THE INDIAN GROWTH MIRACLE AND ENDOGENOUS GROWTH

Jakob B. Madsen (), Shishir Saxena and James B. Ang ()

CAMA Working Papers from Australian National University, Centre for Applied Macroeconomic Analysis

Abstract: Using over half a century of R&D data for India, this paper examines the extent to which India’s recent growth experience can be explained by R&D, international R&D spillovers, catch-up to the technology frontier and financial liberalization. Furthermore, the paper also tests whether any of the competing second-generation endogenous growth theories can explain India’s growth experience. The findings provide support for Schumpeterian growth theory and indicate that the recent high growth rates in India are likely to continue well into the future.

JEL-codes: O3 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa and nep-knm
Date: 2008-08
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Working Paper: THE INDIAN GROWTH MIRACLE AND ENDOGENOUS GROWTH (2008)
Working Paper: THE INDIAN GROWTH MIRACLE AND ENDOGENOUS GROWTH (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:acb:camaaa:2008-29

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