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Convergence Club Empirics: Some Dynamics and Explanations of Unequal Growth across Indian States

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  • Bandyopadhyay, Sanghamitra

Abstract

This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and time series analyses. The findings reveal twin-peaks dynamics - the existence of two income convergence clubs, one at 50 per cent, another at 125% of the national average income. Income disparities across states seem to have declined over the sixties, only to increase over the following three decades. The observed polarization is strongly explained by the disparate distribution of infrastructure, and that of education, and to an extent by a number of macroeconomic indicators, that of capital expenditure and fiscal deficits.

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Bibliographic Info

Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Papers with number UNU-WIDER Research Paper DP2003/77.

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Length: 28 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:unu:wpaper:dp2003-77

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Keywords: convergence clubs; conditional convergence; distribution dynamics; infrastructure; capital investment; macroeconomic stability; File-URL: http://www.wider.unu.edu/stc/repec/pdfs/rp2003/dp2003-77.pdf;

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References

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  1. Levine, Ross & Zervos, Sara, 1993. "Looking at the facts : what we know about policy and growth from cross-country analysis," Policy Research Working Paper Series 1115, The World Bank.
  2. Eric M. Engen & Jonathan Skinner, 1992. "Fiscal Policy and Economic Growth," NBER Working Papers 4223, National Bureau of Economic Research, Inc.
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  6. Bruno, Michael & Easterly, William, 1998. "Inflation crises and long-run growth," Journal of Monetary Economics, Elsevier, vol. 41(1), pages 3-26, February.
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  12. Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December.
  13. Carlino, Gerald A. & Mills, Leonard O., 1993. "Are U.S. regional incomes converging? : A time series analysis," Journal of Monetary Economics, Elsevier, vol. 32(2), pages 335-346, November.
  14. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, vol. 62(4), pages 540-52, September.
  15. Quah, Danny T, 1996. " Convergence Empirics across Economies with (Some) Capital Mobility," Journal of Economic Growth, Springer, vol. 1(1), pages 95-124, March.
  16. Danny Quah, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEP Discussion Papers dp0280, Centre for Economic Performance, LSE.
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Citations

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Cited by:
  1. Shingal, ANIRUDH, 2010. "Services growth and convergence: Getting India’s states together," MPRA Paper 32813, University Library of Munich, Germany.
  2. FE, Doukouré Charles, 2010. "Réduction de Droits de Douane et Convergence Réelle dans l'UEMOA
    [Tariffs Reduction and Real Convergence in WAEMU]    ," MPRA Paper 26763, University Library of Munich, Germany.
  3. Petia Topalova, 2005. "Trade Liberalization, Poverty, and Inequality: Evidence from Indian Districts," NBER Working Papers 11614, National Bureau of Economic Research, Inc.
  4. Amartya Lahiri & Kei-Mu Yi, 2006. "A tale of two states: Maharashtra and West Bengal," Working Papers 06-16, Federal Reserve Bank of Philadelphia.
  5. Roberto Basile, 2007. "Productivity polarization across regions in Europe," Quaderni del Dipartimento di Economia, Finanza e Statistica 31/2007, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
  6. Artelaris, Panagiotis & Arvanitidis, Paschalis & Petrakos, George, 2006. "Theoretical and Methodological Study on Dynamic Growth Regions and Factors Explaining their Growth Performance," Papers DYNREG02, Economic and Social Research Institute (ESRI).
  7. REY, Serge, 2005. "Convergence réelle et convergence nominale dans les Pays de la région MENA
    [Real and nominal convergence amongst MENA countries]    ," MPRA Paper 30206, University Library of Munich, Germany.

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