Economic and Business Cycle of India: Evidence from ICT Sector

Chukiat Chaiboonsri (), Satawat Wannapan () and Anuphak Saosaovaphak
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Chukiat Chaiboonsri: Faculty of Economics, Chiang Mai University
Satawat Wannapan: Faculty of Economics, Chiang Mai University
Anuphak Saosaovaphak: Faculty of Economics, Chiang Mai University

Chapter Chapter 3 in Advances in Panel Data Analysis in Applied Economic Research, 2018, pp 29-43 from Springer

Abstract: Abstract This paper aims to study the relationship between Indian ICT industries and GDP by applying Bayesian inference. Five yearly predominant indexes collected during 2000–2015, including Indian GDP, fixed phone usages, mobile phone distributions, Internet servers, and broadband suppliers, are analyzed by employing the Markov-switching model (MS model) and Bayesian vector autoregressive (BVAR) models. In addition, the Bayesian regression model is used to investigate the ICT multiplier related to Indian economic growth. The empirical results indicate that IT sectors are becoming the major role of Indian economic expansion in the forthcoming future, compared with telecommunication sectors. Moreover, the result of the ICT multiplier confirms that high technological industrial zones should be systematically enhanced continuously, in particular, research and development in cyberspace.

Keywords: Information and Communication Technology (ICT); Bayesian inference; Markov-switching model (MS model); Bayesian vector autoregressive (BVAR) model (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-70055-7_3

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DOI: 10.1007/978-3-319-70055-7_3

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