The Mechanism of Long-Term Growth in India

Pulapre Balakrishnan, Mausumi Das () and M. Parameswaran ()

Working Papers from eSocialSciences

Abstract: This paper aim to provide an account of growth in India based on its internal dynamics. This helps to place the relative roles of policy, shocks, and internal dynamics. The paper leads us to conclude that the internal dynamics of the growth process are at least as important as changes in the policy regime to understand growth over the long term in the country.

Keywords: long-term; growth; India; mechanism; internal dynamics; policy; shocks; increasing returns; production; Cumulative Causation; manufacturing; service sectors; Phillips-Perron (PP) Test; ADF Test; KPSS test; Zivot and Andrews Test. (search for similar items in EconPapers)
Date: 2015-01
Note: Institutional Papers
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