Savings and Economic Growth in India: The Long-Run Nexus

Pravakar Sahoo and Geethanjali Nataraj ()

No 77, Working Papers from Institute for Social and Economic Change, Bangalore

Abstract: In this paper, the causal nexus between savings and economic growth in India is investigated within the framework of causality, co-integration and error correction in the presence of a structural break, using annual data from 1950-1951 to 1998-1999. Identifying the structural breaks in both savings and economic growth in different time period, this study finds support for the long-run equilibrium between savings and economic growth. Further, the study reveals that there is a unidirectional causality from economic growth to savings, thereby repudiating the classical view that savings has been the engine of economic growth.

Keywords: Savings; Economic Growth (search for similar items in EconPapers)
Pages: 18 pages
Date: 2000
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Citations: View citations in EconPapers (9)

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