Growth Dynamics in a General Equilibrium Macroeconomic Model for India

Ashima Goyal

MPRA Paper from University Library of Munich, Germany

Abstract: Medium-run growth dynamics of a “modern” sector are examined in a simple aggregative general equilibrium macromodel. The effect of agriculture-industry interactions on the growth path are then analysed in a ten-sector disaggregated applied general equilibrium model (AGEM) for agriculture policy analysis. The model endogenously generates a relatively rigid mark-up and large quantity response to shocks. The latter explains endogenous growth amplifications. The model is used to understand the Indian growth experience. The emphasis on dynamics helps to identify policy interventions that, by changing parameters in desirable directions, can amplify growth.

Keywords: applied general equilibrium; agriculture-industry interactions; growth amplifications (search for similar items in EconPapers)
JEL-codes: D58 E32 (search for similar items in EconPapers)
Date: 1994
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Citations: View citations in EconPapers (4)

Published in Journal of Policy Modeling 3.16(1994): pp. 265-289

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Related works:
Journal Article: Growth dynamics in a general equilibrium macroeconomic model for India (1994)
Working Paper: Growth Dynamics: In a General Equilibrium Macroeconomic Model for India (1992)
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