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Savings and Economic Growth in India: The Long-Run Nexus

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  • Pravakar Sahoo

    (Institute for Social and Economic Change)

  • Geethanjali Nataraj

Abstract

In this paper, the causal nexus between savings and economic growth in India is investigated within the framework of causality, co-integration and error correction in the presence of a structural break, using annual data from 1950-1951 to 1998-1999. Identifying the structural breaks in both savings and economic growth in different time period, this study finds support for the long-run equilibrium between savings and economic growth. Further, the study reveals that there is a unidirectional causality from economic growth to savings, thereby repudiating the classical view that savings has been the engine of economic growth.

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Bibliographic Info

Paper provided by Institute for Social and Economic Change, Bangalore in its series Working Papers with number 77.

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Length: 18 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:sch:wpaper:77

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Keywords: Savings; Economic Growth;

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Cited by:
  1. Verma, R. & Wilson, E.J., 2005. "A Multivariate Analysis of Savings, Investment, and Growth in India," Economics Working Papers wp05-24, School of Economics, University of Wollongong, NSW, Australia.
  2. Verma, R. & Wilson, E.J., 2005. "Savings, Investment, Foreign Inflows and Economic Growth of the Indian Economy 1950-2001," Economics Working Papers wp05-23, School of Economics, University of Wollongong, NSW, Australia.

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