Economic growth in India revisited: an application of cointegration and error correction mechanism
By: Haldar, Sushil Kumar.
Material type:
ArticlePublisher: 2009Description: p.105-26.Subject(s): Economic growth -India | Economic growth
In:
South Asia Economic JournalSummary: This article tries to examine the relevance of the three distinct types of the growth models, namely, physical capital accumulation - led growth, export-led growth and Lucas-type human capital accumulation-led growth in India taking a long-time series data from 1950-51 to 2003-04. Employing the Johansen's cointegration and error correction model, we find that the human capital investment plays a crucial role both in the long run as well as in the short rn. The export-led growth hypothesis a partially valid whereas the physical capital investment-led growth appears to be insignificant in our findings. - Reproduced.
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Articles
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Indian Institute of Public Administration | Volume no: 10, Issue no: 1 | Available | AR84904 |
This article tries to examine the relevance of the three distinct types of the growth models, namely, physical capital accumulation - led growth, export-led growth and Lucas-type human capital accumulation-led growth in India taking a long-time series data from 1950-51 to 2003-04. Employing the Johansen's cointegration and error correction model, we find that the human capital investment plays a crucial role both in the long run as well as in the short rn. The export-led growth hypothesis a partially valid whereas the physical capital investment-led growth appears to be insignificant in our findings. - Reproduced.
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