Do Macroeconomic Conditions Matter for Agriculture? The Indian Experience

Shashanka Bhide, Meenakshi Rajeev () and B.P. Vani

No 162, Working Papers from Institute for Social and Economic Change, Bangalore

Abstract: Macroeconomic instability, characterised by high inflation, a fragile foreign exchange position, high rates of interest, increases uncertainty for any investor or producer and hence slows down economic growth. While this is generally accepted, the usual perception about the agricultural sector, particularly in India, is that it is immune to general macroeconomic shocks. In this paper, we intend to examine this perception formally using a vector auto regressive model. By studying the significance of macroeconomic conditions to the agricultural sector, we observe that the sector is not insulated from macroeconomic shocks.

Keywords: Agricultural Growth; Macroeconomic instability (search for similar items in EconPapers)
Pages: 33 pages
Date: 2005
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Citations: View citations in EconPapers (1)

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