The internal dynamic of Indian economic growth

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