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The Indian growth miracle and endogenous growth

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  • Madsen, Jakob B.
  • Saxena, Shishir
  • Ang, James B.

Abstract

Using over half a century of R&D data for India, this paper tests whether the second-generation endogenous growth theories are consistent with India's growth experience. Furthermore, the paper examines the extent to which growth in India can be explained by R&D activity, international R&D spillovers, catch-up to the technology frontier and policy reforms. The empirical results show that the growth in India over the past five decades has been driven by research intensity following the predictions of Schumpeterian growth theory.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Development Economics.

Volume (Year): 93 (2010)
Issue (Month): 1 (September)
Pages: 37-48

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Handle: RePEc:eee:deveco:v:93:y:2010:i:1:p:37-48

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Keywords: Schumpeterian growth Semi-endogenous growth R& D;

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