An Econometric Analysis of Impact of Public Issue on Economic Development in India during 1989-2009
AbstractThis paper examines the empirical association between public issue and economic development (GDP) during the period 1989-2009. With help of log-lin regression model, we found that public issue had a positive significant impact on India’s economic development during this period, which survives almost all diagnostic tests of Classical Linear Regression Model. But, the relationship between public issue and economic development during this period, though had drastically undergone a structural change after 1997 South-east Asian Crisis, evidenced by residuals of recursive least squares, CUSUM test, CUSUMSQ test and Chow’s Predictive Failure test, but had remained stable after 2007 Subprime Crisis.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 53066.
Date of creation: Jul 2012
Date of revision: Sep 2012
Publication status: Published in Inrternational Journal of Management, IT & Engineering 10.2(2012): pp. 679-693
Public Issue; Economic Development; Econometric Analysis;
Find related papers by JEL classification:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
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