THE INDIAN GROWTH MIRACLE AND ENDOGENOUS GROWTH

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

No 03/09, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: Using over half a century of R&D data for India, this paper tests whether the second-generation endogenous growth theories are consistent with India's growth experience. Furthermore, the paper also examines the extent to which growth in India can be explained by R&D activity, international R&D spillovers, catch-up to the technology frontier and policy reforms. The empirical results show that the growth in India over the past five decades has been significantly driven by research intensity following the predictions of Schumpeterian growth theory.

Keywords: Schumpeterian growth; semi-endogenous growth; R&D. (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse and nep-cwa
Date: Written
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Related works:
Working Paper: THE INDIAN GROWTH MIRACLE AND ENDOGENOUS GROWTH (2008)
Working Paper: THE INDIAN GROWTH MIRACLE AND ENDOGENOUS GROWTH (2008)
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