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Presence of Persistence in Industrial production: The Case of India

Author

Listed:
  • Pami Dua

    (Delhi School of Economics and Economic Cycle Research Institute, New York)

  • Tapas Mishra

    (Delhi School of Economics)

Abstract

This paper tests for the presence of persistence in Indian industrial production. Persistence implies the existence of a unit root in the series. We therefore employ the augmented Dickey Fuller and the Phillips Perron tests as well as the KPSS test. We also use the Bayesian framework, which is superior to classical hypothesis testing. Our results generally support the existence of a unit root thus differing from findings of earlier studies. The existence of persistence in industrial output has important policy implications.

Suggested Citation

  • Pami Dua & Tapas Mishra, 1999. "Presence of Persistence in Industrial production: The Case of India," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 34(1), pages 23-38, January.
    • Handle: RePEc:dse:indecr:v:34:y:1999:i:1:p:23-38
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    Cited by:

    1. Dutt, Amitava K. & Ros, Jaime, 2007. "Aggregate demand shocks and economic growth," Structural Change and Economic Dynamics, Elsevier, vol. 18(1), pages 75-99, March.
    2. Pami Dua & Deepika Goel, 2021. "Inflation Persistence in India," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 19(3), pages 525-553, September.
    3. Patrick Marie Nga Ndjobo & Nadège Ngah Otabela, 2023. "Can Income Inequality be Affected by the Interaction Between ICTs and Human Capital?: The Evidence from Developing Countries," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 21(1), pages 235-264, March.

    More about this item

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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