Have the Monetary and Fiscal Policies been Effective in India?

Kishore Kulkarni and Sweta Saxena

Global Business Review, 2003, vol. 4, issue 2, 229-237

Abstract: This paper analyzes the impact of fiscal and monetary policies on output in India.The econometric evidence suggests that less than 5 per cent of the variation in output is explained by fiscal and monetary policies before the crisis in 1991. However, post-crisis data reveals the growing importance of both the macro-economic policies in explaining output variation. The paper discusses theoretical arguments, surveys prior studies and attempts to explain the reasons for the empirical results.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:4:y:2003:i:2:p:229-237

DOI: 10.1177/097215090300400202

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