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Article
Publication date: 14 June 2019

Deb Kusum Das, Suresh Chand Aggarwal, Abdul Azeez Erumban and Pilu Chandra Das

The dynamics of economic growth in India continues to engage economists and still remains much debated. The trends and patterns of growth observed in India have seen…

Abstract

Purpose

The dynamics of economic growth in India continues to engage economists and still remains much debated. The trends and patterns of growth observed in India have seen acceleration in growth in Indian economy in the period following macroeconomic reforms and policy changes in investment and trade regimes. However, when and how did India transform itself from Hindu rate of growth to the present growth regime continues to be debated.

Design/methodology/approach

Using INDIA KLEMS data set, this study provides a distinctive perspective on India’s economic growth. A unique data set comprising 27 sectors of Indian economy at a disaggregate industry level for a period of 30 years, beginning 1980s, attempts to understand the dynamics of India’s growth from the contribution of industries that comprise the Indian economy.

Findings

This productivity data set offers a new way of analyzing the dynamics of growth including the sources of growth. The growth empirics allow evaluation of the relative significance of total factor productivity growth vis-a-vis input accumulation in accounting for output growth. In addition, the authors were able to document the industry contributions to aggregate growth. In this way, they were able to analyze the importance of the constituent industries within the different sectors of the economy − agriculture, manufacturing, construction and market, as well as non-market services in accounting for the observed growth in India. In conclusion, the industry perspective offers a new and analytical way of discerning new aspects of India’s march to higher growth regimes in post-1990s era.

Originality/value

A unique data set comprising 27 sectors of Indian economy at a disaggregate industry level for a period of 30 years, beginning 1980s, attempts to understand the dynamics of India’s growth from the contribution of industries that comprise the Indian economy.

Details

Indian Growth and Development Review, vol. 13 no. 1
Type: Research Article
ISSN: 1753-8254

Keywords

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Article
Publication date: 12 April 2013

Prachi Mishra and Deb Kusum Das

This paper aims to examine the relationship between trade liberalization and wages in India.

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Abstract

Purpose

This paper aims to examine the relationship between trade liberalization and wages in India.

Design/methodology/approach

This paper uses an empirical approach based on the “mandated wage equations”.

Findings

The main result in the paper is that trade reforms have been associated with a rise in the relative wages of medium‐skilled workers (defined as having completed secondary schooling). The authors do not find any evidence for trade reforms to be associated with an increase or decrease in wage inequality between low and high‐skilled workers. The results are consistent with the predictions of the Stolper‐Samuelson theorem.

Originality/value

The main contribution of this paper is to add to the debate on trade reforms and inequality in India by focusing on the variation in skill categories.

Details

Indian Growth and Development Review, vol. 6 no. 1
Type: Research Article
ISSN: 1753-8254

Keywords

Content available
Article
Publication date: 12 April 2013

Devashish Mitra and Priya Ranjan

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Abstract

Details

Indian Growth and Development Review, vol. 6 no. 1
Type: Research Article
ISSN: 1753-8254

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Article
Publication date: 14 June 2019

Bishwanath Goldar, Isha Chawla and Smruti Ranjan Behera

The purpose of this paper is to assess the impact of India’s trade liberalization during the late 1990s and 2000s on productivity of manufacturing firms and verify whether…

Abstract

Purpose

The purpose of this paper is to assess the impact of India’s trade liberalization during the late 1990s and 2000s on productivity of manufacturing firms and verify whether the productivity-enhancing impact of reductions in input tariffs was greater than that of output tariff cuts, as found in some earlier studies.

Design/methodology/approach

Firm-level (company-level) data drawn from Prowess database are used for the estimation of total factor productivity (TFP) at the firm level, done by using the Levinsohn–Petrin methodology. Econometric models are estimated to explain firm-level TFP. The explanatory variables used are output and input tariff rates and quantitative restrictions on imports at the industry level and firm characteristics such as firm size, export intensity and import intensity. Firm-level panel data for 2002-2010 or for a longer period 1998-2010 are used for the estimation of econometric models. Model estimation is done by applying the fixed-effects model and IV-2SLS, 3SLS estimators and EC2SLS estimators.

Findings

Trade liberalization had a significant positive effect on the productivity of Indian manufacturing firms. The lowering of output tariff had a greater beneficial impact on TFP of Indian manufacturing firms than the lowering of tariff on intermediate inputs.

Originality/value

Good deal of care has been taken in the measurement of output and inputs for the purpose of TFP measurement. Two alternative frameworks, gross output and value added, are used. This helps in making a better estimate of the impact of trade liberalization on TFP.

Details

Indian Growth and Development Review, vol. 13 no. 1
Type: Research Article
ISSN: 1753-8254

Keywords

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Article
Publication date: 17 September 2019

Pami Dua and Niti Khandelwal Garg

The study aims to empirically investigate the trends and determinants of labour productivity of the two broad sectors –industry and services – and their components…

Abstract

Purpose

The study aims to empirically investigate the trends and determinants of labour productivity of the two broad sectors –industry and services – and their components, namely, manufacturing and market services sectors, in the case of major developing and developed economies of Asia-Pacific over the period 1980-2014 and make a comparison thereof.

Design/methodology/approach

The study uses econometric methodology of panel unit root tests, panel cointegration and group-mean full modified ordinary least squares (FMOLS).

Findings

The study finds that while capital deepening, government size, institutional quality, productivity of the other sector and financial openness affect productivity of all the sectors significantly, the impact of human capital and trade openness varies across sectors in the case of developing economies. Furthermore, the impact of technological progress becomes significant in the post-liberalization reforms period in the developing economies. The study further finds that capital deepening, human capital, government size, institutional quality, productivity of the other sector, government size and trade openness are significant determinants of productivity of all sectors of developed economies under consideration. However, the impact of technological progress is stronger for manufacturing sector than services and its components. Furthermore, while both equity and debt liabilities (as measures of financial openness) influence sectoral productivity of industry and manufacturing sectors positively and significantly in case of developed economies, only equity liabilities have a significant influence on the productivity of developing economies. This may indicate existence of more developed financial markets in the case of developed economies.

Originality/value

The study identifies important structural differences in determinants of productivity both across sectors and across developing and developed economies of Asia-Pacific.

Details

Indian Growth and Development Review, vol. 13 no. 1
Type: Research Article
ISSN: 1753-8254

Keywords

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