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The Productivity-Wage And Productivityemployment Nexus - A Panel Data Analysis Of Indian Manufacturing

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Author Info
Mita Bhattacharya
Paresh K. Narayan
Stephen Popp
Badri N. Rath

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Abstract

This paper investigates the long-run relationship between labour productivity and employment, and between labour productivity and real wages in the case of the Indian manufacturing sector. The panel data set consists of 17 two-digit manufacturing industries for the period 1973-74 to 1999-2001. We find that productivity-wages and productivity-employment are panel cointegrated for all industries. We find that both employment and real wages exert a positive effect on labour productivity. We argue that flexible labor market has a significant influence on manufacturing productivity, employment and real wages in case of Indian manufacturing.

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File URL: http://www.buseco.monash.edu.au/units/dru/papers/working-papers-09/09-07productivitybhattacharyanarayanpopprath.pdf
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Paper provided by Monash University, Department of Economics in its series Development Research Unit Working Paper Series with number 07-09.

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Length: 34 pages
Date of creation: 02 Apr 2009
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Handle: RePEc:mos:druwps:2009-07

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Related research
Keywords: Labour Productivity; Real Wages; Panel Unit Root Tests; Panel Cointegartion Tests; Manufacturing.;

Find related papers by JEL classification:
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General
O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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  1. Lall, Somik V. & Shalizi, Zmarak & Deichmann, Uwe, 2004. "Agglomeration economies and productivity in Indian industry," Journal of Development Economics, Elsevier, vol. 73(2), pages 643-673, April. [Downloadable!] (restricted)
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  2. Bell, Clive & Rousseau, Peter L., 2001. "Post-independence India: a case of finance-led industrialization?," Journal of Development Economics, Elsevier, vol. 65(1), pages 153-175, June. [Downloadable!] (restricted)
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  3. Bhalotra, Sonia R, 1998. "The Puzzle of Jobless Growth in Indian Manufacturing," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(1), pages 5-32, February.
  4. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July. [Downloadable!] (restricted)
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  5. Diebold, Francis X & Mariano, Roberto S, 1995. "Comparing Predictive Accuracy," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(3), pages 253-63, July.
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  6. Junsoo Lee & Mark C. Strazicich, 2003. "Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 1082-1089, 07. [Downloadable!] (restricted)
  7. Rashmi Banga, 2005. "Impact of liberalisation on wages and employment in Indian manufacturing industries," Indian Council for Research on International Economic Relations, New Delhi Working Papers 153, Indian Council for Research on International Economic Relations, New Delhi, India. [Downloadable!]
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  8. Pedroni, Peter, 1999. " Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 653-70, Special I. [Downloadable!] (restricted)
  9. Unel Bulent, 2003. "Productivity Trends in India's Manufacturing Sectors in the Last Two Decades," IMF Working Papers 03/22, International Monetary Fund. [Downloadable!]
  10. Hasan, Rana, 2002. "The impact of imported and domestic technologies on the productivity of firms: panel data evidence from Indian manufacturing firms," Journal of Development Economics, Elsevier, vol. 69(1), pages 23-49, October. [Downloadable!] (restricted)
  11. Peter Pedroni, 2001. "Purchasing Power Parity Tests In Cointegrated Panels," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 727-731, November. [Downloadable!] (restricted)
  12. Devashish Mitra & Beyza Ural, 2008. "Indian manufacturing: A slow sector in a rapidly growing economy," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 17(4), pages 525-559. [Downloadable!] (restricted)
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