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Intermediate Input Technological Progress Translated into Neoclassical Terms—A Study with Reference to the Indian Economy

In: Applications of the Input-Output Framework

Author

Listed:
  • Partha Pratim Ghosh

    (St. Xavier’s College (Autonomous))

Abstract

While the demand-driven Leontief system leads to a reduction in total output when there is increased efficiency of intermediate inputs, in the neoclassical system technological progress must lead to higher output. This paper presents an explanation of technical progress that resolves the apparent paradox using India’s Input–Output table for 2011–12. The idea of technological improvements has been taken from two current programs of development, namely Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and Pradhan Mantri Gram Sadak Yojana (PMGSY) that would lead to increased efficiency of irrigation and water resource usage and increased efficiency of road connectivity across the country in a multi-sector framework. This paper calculates elasticity of final demands with respect to intermediate inputs, as also price effects arising out of changes in Input–Output coefficients. Results indicate that in order to enhance efficiency of intermediate inputs used in the agricultural sectors, it is necessary to adopt similar efficiency augmenting programs in other sectors of the economy as well. This will lead to a balanced increase in productivity of all sectors and affect agriculture more favorably.

Suggested Citation

  • Partha Pratim Ghosh, 2018. "Intermediate Input Technological Progress Translated into Neoclassical Terms—A Study with Reference to the Indian Economy," Springer Proceedings in Business and Economics, in: Kakali Mukhopadhyay (ed.), Applications of the Input-Output Framework, pages 39-62, Springer.
    • Handle: RePEc:spr:prbchp:978-981-13-1507-7_3
    DOI: 10.1007/978-981-13-1507-7_3
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    More about this item

    Keywords

    Input–Output; Agriculture; Efficiency of intermediate inputs; Technological improvement;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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