Globalization and Structural Changes in the Indian Industrial Sector: An Analysis of Production Functions
AbstractThis study investigates the structural changes in the manufacturing sector of India brought about by liberalization and globalization of the economy. Structural changes in terms of employment of labor and capital, indicated by replacement of the former by the latter, and changes in returns to scale have been examined by estimating Constant Elasticity of Substitution (CES), Zellner-Revankar, Transcendental, Diewert and Bruno’s production functions. State-wise data for 1990-91 and 2003-04 have been analyzed. The findings have indicated that the rise in industrial output during the reference period is accountable to substitution of capital for labor in almost all states. The elasticity of substitution has declined for most of the states. In the pre-globalization period, the industries experienced increasing returns to scale. Globalization has given way to diminishing returns to scale. Along with a rise in industrial output, globalization has led to a decline in regional disparities in terms of population-deflated indices of employment of manpower and capital, and the resultant output.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by IUP Publications in its journal The IUP Journal of Managerial Economics.
Volume (Year): V (2007)
Issue (Month): 4 (November)
Contact details of provider:
Other versions of this item:
- S.K. Mishra, 2007. "Globalization and Structural Changes in the Indian Industrial Sector: An Analysis of Production Functions," Working Papers id:788, eSocialSciences.
- Mishra, SK, 2006. "Globalization and Structural Changes in the Indian Industrial Sector: An Analysis of Production Functions," MPRA Paper 1231, University Library of Munich, Germany.
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Satish Chand & Kunal Sen, 1996.
"Trade Liberalization and Productivity Growth: Evidence from Indian Manufacturing,"
Trade and Development
96/11, Australian National University, Department of Economics.
- Chand, Satish & Sne, Kunal, 2002. "Trade Liberalization and Productivity Growth: Evidence from Indian Manufacturing," Review of Development Economics, Wiley Blackwell, vol. 6(1), pages 120-32, February.
- Satish Chand & Kunal Sen, 1996. "Trade Liberalization and Productivity Growth: Evidence from Indian Manufacturing," Departmental Working Papers 1996-11, The Australian National University, Arndt-Corden Department of Economics.
- Mishra, SK, 2006. "Global Optimization by Differential Evolution and Particle Swarm Methods: Evaluation on Some Benchmark Functions," MPRA Paper 1005, University Library of Munich, Germany.
- Dasgupta, Madhuchhanda & Mishra, SK, 2004. "Least absolute deviation estimation of linear econometric models: A literature review," MPRA Paper 1781, University Library of Munich, Germany.
- Nigel L. Driffield & Uma S. Kambhampati, 2003. "Trade Liberalization and the Efficiency of Firms in Indian Manufacturing," Review of Development Economics, Wiley Blackwell, vol. 7(3), pages 419-430, 08.
- Mishra, SK, 2006.
"Estimation of Zellner-Revankar Production Function Revisited,"
1172, University Library of Munich, Germany.
- SK Mishra, 2007. "Estimation of Zellner-Revankar Production Function Revisited," Economics Bulletin, AccessEcon, vol. 3(14), pages 1-7.
- Sankar, Ulaganathan, 1970. "Elasticities of Substitution and Returns to Scale in Indian Manufacturing Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 399-411, October.
- Alcala, Francisco & Ciccone, Antonio, 2001.
"Trade and Productivity,"
CEPR Discussion Papers
3095, C.E.P.R. Discussion Papers.
- Francisco Alcalá & Antonio Ciccone, 2003. "Trade and Productivity," Working Papers 12, Barcelona Graduate School of Economics.
- Francisco Alcalá & Antonio Ciccone, 2001. "Trade and productivity," Economics Working Papers 580, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2002.
- Shaikh, Anwar, 1974. "Laws of Production and Laws of Algebra: The Humbug Production Function," The Review of Economics and Statistics, MIT Press, vol. 56(1), pages 115-20, February.
- Kaliappa Kalirajan & Shashanka Bhide, 2004. "The Post-reform Performance of the Manufacturing Sector in India," Asian Economic Papers, MIT Press, vol. 3(2), pages 126-157.
- Williams, Martin & Laumas, Prem S, 1984. "Economies of Scale for Various Types of Manufacturing Production Technologies in an Underdeveloped Economy," Economic Development and Cultural Change, University of Chicago Press, vol. 32(2), pages 401-12, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (G R K Murty).
If references are entirely missing, you can add them using this form.