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Economic growth in India: the role of physical and social infrastructure

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  • Ranjan Ku Dash
  • Pravakar Sahoo

Abstract

We investigate the role of physical and social infrastructure in economic growth in India after controlling for other important variables such as investment, labour force, and trade, using the Two‐Stage Least Squares (TSLS) and Dynamic Ordinary Least Squares (DOLS) techniques, for the period 1970 to 2006. In this context we develop a composite index of physical infrastructure stocks and examine its impact on output. We find that physical and social infrastructures have a significant positive impact on output apart from gross domestic capital formation and international trade. Further, the causality analysis supports the results, revealing unidirectional causality from infrastructure development and human capital to output growth in India.

Suggested Citation

  • Ranjan Ku Dash & Pravakar Sahoo, 2010. "Economic growth in India: the role of physical and social infrastructure," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 13(4), pages 373-385.
    • Handle: RePEc:taf:jecprf:v:13:y:2010:i:4:p:373-385
    DOI: 10.1080/17487870.2010.523980
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    Cited by:

    1. Hülya Saygılı & K. Azim Özdemir, 2021. "Regional economic growth in Turkey: the effects of physical, social and financial infrastructure investment," Empirical Economics, Springer, vol. 60(4), pages 2039-2061, April.
    2. Gao, Yuan & Tian, Li & Cao, Yandong & Zhou, Lin & Li, Zhibin & Hou, Deyi, 2019. "Supplying social infrastructure land for satisfying public needs or leasing residential land? A study of local government choices in China," Land Use Policy, Elsevier, vol. 87(C).
    3. Zhang, Yijia & Cheng, Lu, 2023. "The role of transport infrastructure in economic growth: Empirical evidence in the UK," Transport Policy, Elsevier, vol. 133(C), pages 223-233.
    4. Wang, Shih-Hsu, 2016. "An analytical model for benchmarking the development of national infrastructure items against those in similar countries," International Journal of Critical Infrastructure Protection, Elsevier, vol. 13(C), pages 3-18.
    5. Madhusudan Ghosh, 2017. "Infrastructure and Development in Rural India," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 11(3), pages 256-289, August.
    6. Xuan Sun & Weikai Wang & Tao Sun & Ya Ping Wang, 2018. "Understanding the Living Conditions of Chinese Urban Neighborhoods through Social Infrastructure Configurations: The Case Study of Tianjin," Sustainability, MDPI, vol. 10(9), pages 1-17, September.
    7. Nisha S. Simon & P. Natarajan, 2017. "Nonlinearity between Infrastructure Inequality and Growth," Review of Market Integration, India Development Foundation, vol. 9(1-2), pages 66-82, April.
    8. Kumari, Anita & Kumar Sharma, Anil, 2017. "Infrastructure financing and development: A bibliometric review," International Journal of Critical Infrastructure Protection, Elsevier, vol. 16(C), pages 49-65.
    9. Pravakar Sahoo & Abhirup Bhunia, 2014. "China's Manufacturing Success Lessons for India," IEG Working Papers 344, Institute of Economic Growth.
    10. Yeonsoo Kim & Jooseok Oh & Seiyong Kim, 2020. "The Transition from Traditional Infrastructure to Living SOC and Its Effectiveness for Community Sustainability: The Case of South Korea," Sustainability, MDPI, vol. 12(24), pages 1-16, December.
    11. Timilsina,Govinda R. & Stern,David S. & Das,Debasish Kumar, 2021. "How Much Does Physical Infrastructure Contribute to Economic Growth ? An Empirical Analysis," Policy Research Working Paper Series 9888, The World Bank.
    12. Timilsina,Govinda R. & Hochman,Gal & Song,Ze, 2020. "Infrastructure, Economic Growth, and Poverty : A Review," Policy Research Working Paper Series 9258, The World Bank.
    13. Pravakar Sahoo & Ashwani Bishnoi, 2021. "Investment Slowdown in India: Role of Fiscal-Monetary policy and Economic Uncertainty," IEG Working Papers 439, Institute of Economic Growth.
    14. Pravakar Sahoo & Ashwani Bishnoi, 2021. "Drivers of Corporate Investment Slowdown in India: A Firm Level Analysis," IEG Working Papers 441, Institute of Economic Growth.
    15. Ahmed MUSABEH & Mehdi ZOUAOUI, 2020. "Policies and Variables affecting FDI: A Panel Data Analysis of North African Countries," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 7(1), pages 1-20, January.
    16. Eberechukwu Uneze, 2013. "The relation between capital formation and economic growth: evidence from sub-Saharan African countries," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 16(3), pages 272-286, September.
    17. Wooseok Kang & Narang Park & Wookjae Heo, 2021. "Improvements in Evaluating Grids for Basic Living Infrastructure: The Case of Gwangjin District in Seoul, South Korea," Social Sciences, MDPI, vol. 10(1), pages 1-14, January.
    18. Pravakar Sahoo & Ashwani Bishnoi, 2021. "Investment Behavior in India: What led to Investment Slowdown and how to Revive it?," IEG Working Papers 436, Institute of Economic Growth.
    19. Ignas Lukosevicius, 2020. "European Union Transport Infrastructure: Roads and Railways Subsectors Case," Eurasian Journal of Business and Management, Eurasian Publications, vol. 8(4), pages 305-318.
    20. Feng, Wei & Yuan, Hang, 2023. "The impact of medical infrastructure on regional innovation: An empirical analysis of China's prefecture-level cities," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).
    21. Ghosh, Prabir Kumar, 2020. "Nexus between Infrastructure and Economic Growth: An Empirical Study in the Post-Reform period in India," MPRA Paper 117709, University Library of Munich, Germany, revised May 2021.

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