ELASTICITY OF SUBSTITUTION BETWEEN LABOUR AND CAPITAL ACROSS TWENTY SIX MAJOR INDUSTRIES IN INDIA DURING 2004-05

Mulakala Upender

International Journal of Applied Econometrics and Quantitative Studies, 2009, vol. 9, issue 1, 101-110

Abstract: The magnitude of the elasticity of substitution between labour and capital across twenty six major Industries [Factory Sector] in India has been estimated in the present paper by fitting a Constant Elasticity of Substitution Production Function for the year 2004-05.The empirical results emerged out of the cross section data demonstrate that the estimate of the elasticity of substitution between labour and capital across the major Indian Industries is significantly more than unity implying that substitution possibilities are rather more in favour of labour in the Indian major Industries

Keywords: Industry; Production Function; India; Elasticity of Substitution; Economic Development (search for similar items in EconPapers)
JEL-codes: C51 O5 O53 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (2)

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