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The "V-Factor": Distribution, Timing and Correlates of the Great Indian Growth Turnaround

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  • Chetan Ghate
  • Stephen Wright

Abstract

The ratio of Indian to US per capita output over the past 45 years has displayed a distinctive "V"-shaped pattern. We show that a strikingly similar V-shaped pattern is visible not just in aggregate output .figures, but also as the primary determinant of long-term movements in the cross-sectional distribution within the All-India total, at both sectoral and state output levels. We also carry out preliminary investigations of correlates of the "V-Factor", using a new panel data set for Indian states from 1960 to 2005 that extends and encompasses all previous datasets relevant to macroeconomic analysis of the Indian states.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.82513.de/dp783.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 783.

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Length: 39 p.
Date of creation: 2008
Date of revision:
Handle: RePEc:diw:diwwpp:dp783

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Keywords: Principal components; divergence; Indian States;

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  1. Hausmann, Ricardo & Pritchett, Lant & Rodrik, Dani, 2004. "Growth Accelerations," Working Paper Series rwp04-030, Harvard University, John F. Kennedy School of Government.
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  5. Rodrik, Dani & Subramanian, Arvind, 2004. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," Working Paper Series rwp04-013, Harvard University, John F. Kennedy School of Government.
  6. Chetan Ghate & Stephen Wright, 2008. "The "V-Factor": Distribution, Timing and Correlates of the Great Indian Growth Turnaround," Discussion Papers of DIW Berlin 783, DIW Berlin, German Institute for Economic Research.
  7. Lee, Jong-Wha, 1995. "Capital goods imports and long-run growth," Journal of Development Economics, Elsevier, vol. 48(1), pages 91-110, October.
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  11. Chetan Ghate, 2008. "Understanding divergence in India: a political economy approach," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 11(1), pages 1-9.
  12. Chetan Ghate & Stephen Wright, 2011. "Correlates of statewise participation in the great Indian growth turnaround: some preliminary robustness results," Birkbeck Working Papers in Economics and Finance 1104, Birkbeck, Department of Economics, Mathematics & Statistics.
  13. Aditya Bhattacharjea, 2006. "Labour Market Regulation and Industrial Performance in India--A Critical Review of the Empirical Evidence," Working papers 141, Centre for Development Economics, Delhi School of Economics.
  14. Jushan Bai & Pierre Perron, 2003. "Computation and analysis of multiple structural change models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 1-22.
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Citations

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Cited by:
  1. Sabyasachi Kar & Debajit Jha & Alpana Kateja, 2011. "Club-convergence and polarization of states: A nonparametric analysis of post-reform India," Indian Growth and Development Review, Emerald Group Publishing, vol. 4(1), pages 53-72, April.
  2. Kevin S. Nell, 2013. "A Total Factor Productivity-Capital Accumulation Hypothesis of India’s Growth Transitions," CEF.UP Working Papers 1313, Universidade do Porto, Faculdade de Economia do Porto.
  3. Kala Seetharam Sridhar & A. Venugopala Reddy, 2011. "Investment and Economic Opportunities: Urbanization, Infrastructure and Governance in The North and South of India," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 18(1), pages 1-46, June.
  4. Chetan Ghate & Stephen Wright, 2009. "The "V-Factor": Distribution, Timing and Correlates of the Great Indian Growth Turnaround," Jena Economic Research Papers 2009-010, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  5. Castelló-Climent, Amparo & Mukhopadhyay, Abhiroop, 2013. "Mass education or a minority well educated elite in the process of growth: The case of India," Journal of Development Economics, Elsevier, vol. 105(C), pages 303-320.
  6. Banerjee, Rajabrata & Roy, Saikat Sinha, 2014. "Human capital, technological progress and trade: What explains India's long run growth?," Journal of Asian Economics, Elsevier, vol. 30(C), pages 15-31.
  7. Chetan Ghate & Stephen Wright, 2011. "Correlates of statewise participation in the great Indian growth turnaround: some preliminary robustness results," Birkbeck Working Papers in Economics and Finance 1104, Birkbeck, Department of Economics, Mathematics & Statistics.

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