Revisiting India’s Growth Transitions
Deepankar Basu ()
Additional contact information
Deepankar Basu: Department of Economics, University of Massachusetts Amherst
UMASS Amherst Economics Working Papers from University of Massachusetts Amherst, Department of Economics
This paper reconsiders two questions relating to India’s economic growth: structural breaks in growth and the impact of equipment investment on aggregate economic growth. First, statistical tests of structural change show that economic growth in post-independence India has witnessed four structural breaks: in 1964-65, in 1978-79, in 1990-91, and in 2004-05. However, substantial growth accelerations, i.e. increase of more than 1.0% per annum in the growth rate of per capita real GDP, occurred only at two points: 1978-79 and 2004-05. Second, to analyze the impact of equipment investment on growth, I use an ARDL bounds testing methodology. I find a positive and statistically significant long run positive impact of private investment in equipment and machinery on the growth rate of real GDP.
Keywords: India; economic growth; structural change; ARDL bounds testing. (search for similar items in EconPapers)
JEL-codes: O11 O47 O53 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa and nep-gro
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://scholarworks.umass.edu/cgi/viewcontent.cgi ... xt=econ_workingpaper (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ums:papers:2020-01
Access Statistics for this paper
More papers in UMASS Amherst Economics Working Papers from University of Massachusetts Amherst, Department of Economics Thompson Hall, Amherst, MA 01003. Contact information at EDIRC.
Bibliographic data for series maintained by Daniele Girardi ().