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The Indian Growth Miracle And Endogenous Growth

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

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Abstract

Using over half a century of R&D data for India, this paper examines the extent to which India’s recent growth experience can be explained by R&D, international R&D spillovers, catch-up to the technology frontier and financial liberalization. Furthermore, the paper also tests whether any of the competing second-generation endogenous growth theories can explain India’s growth experience. The findings provide support for Schumpeterian growth theory and indicate that the recent high growth rates in India are likely to continue well into the future.

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File URL: http://cbe.anu.edu.au/research/papers/camawpapers/Papers/2008/Madsen_Saxena_Ang_292008.pdf
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Bibliographic Info

Paper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2008-29.

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Length: 28 pages
Date of creation: Aug 2008
Date of revision:
Handle: RePEc:een:camaaa:2008-29

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