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The internal dynamic of Indian economic growth

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dc.contributor.author Balakrishnan, Pulapre
dc.date.accessioned 2018-02-15T06:56:36Z
dc.date.available 2018-02-15T06:56:36Z
dc.date.issued 2017
dc.identifier.uri http://hdl.handle.net/2259/967
dc.description Journal of Asian Economics 50 (2017) 46–61: Please see the original of this article at https://www.sciencedirect.com/science/article/pii/S1049007816300501 en_US
dc.description.abstract A stylised fact of India’s economic history since 1950 is that the rate of growth of the economy has accelerated periodically and across policy regimes. In this paper we present a theoretical framework that can generate such a pattern due to cumulative causation through positive feedback. The growth process is then investigated using cointegration analysis. We are able to establish the existence of positive feedback which is at the centre of cumulative causation. We are also able to date the onset of this mechanism which has driven growth in India for close to half a century by now. This leads us to conclude that the internal dynamics are at least as important as the policy regimes to understand growth over the long term in this country. en_US
dc.language.iso en en_US
dc.publisher Journal of Asian Economics: Elsevier en_US
dc.subject Economic growth en_US
dc.subject India en_US
dc.subject Cumulative causation en_US
dc.subject Increasing returns en_US
dc.subject Producer services en_US
dc.title The internal dynamic of Indian economic growth en_US
dc.type Article en_US

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