Presence of Persistence in Industrial production: The Case of India
Pami Dua () and
Tapas Mishra ()
Indian Economic Review, 1999, vol. 34, issue 1, 23-38
This paper tests for the presence of persistence in Indian industrial production. Persistence implies the existence of a unit root in the series. We therefore employ the augmented Dickey Fuller and the Phillips Perron tests as well as the KPSS test. We also use the Bayesian framework, which is superior to classical hypothesis testing. Our results generally support the existence of a unit root thus differing from findings of earlier studies. The existence of persistence in industrial output has important policy implications.
JEL-codes: E32 E63 (search for similar items in EconPapers)
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Indian Economic Review is currently edited by Pami Dua (Editor) & Ram Singh (Associate Editor) and Sunil Kanwar
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