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India's Economic Growth History: Fluctuations, Trends, Break Points and Phases

Author

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  • Arvind Virmani

    (Director & CE, Indian Council for Research on International Economic Relations, Core 6A, 4th Floor, India Habitat Center, Lodhi Road, New Delhi 110003, India)

Abstract

This paper reviews India's growth performance since independence. One of the innovations in this paper is to take explicit account of rainfall variations that play a very important role in the Indian economy. This allows us to determine whether the Indian economy has become less dependent on the monsoons ('drought proof'). It also allows a statistically more accurate determination of the different phases of Indian economic growth. These phases are linked to different policy regimes and therefore allow us to evaluate the impact of a set of policies on economic growth.

Suggested Citation

  • Arvind Virmani, 2006. "India's Economic Growth History: Fluctuations, Trends, Break Points and Phases," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 41(1), pages 81-103, July.
  • Handle: RePEc:dse:indecr:v:41:y:2006:i:1:p:81-103
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    Citations

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    Cited by:

    1. Banga, Rashmi & Das, Abhijit, 2010. "Role of trade policies in growth of Indian manufacturing sector," MPRA Paper 35198, University Library of Munich, Germany.
    2. Matthew McCartney, 2011. "Pakistan, Growth, Dependency, and Crisis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(Special E), pages 71-94, September.
    3. Triyakshana Seshadri & Virgil Storr, 2010. "Knowledge problems associated with creating export zones," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(4), pages 347-366, December.
    4. Md., Samsur Jaman, 2014. "Monitoring Structural Changes in NER: -An Empirical Analysis of Mizoram," MPRA Paper 60270, University Library of Munich, Germany.
    5. Arvind Virmani & Danish A Hashim, 2011. "J-Curve of Productivity and Growth; Indian Manufacturing Post-Liberalization," IMF Working Papers 11/163, International Monetary Fund.
    6. Richard Herd & Sean Dougherty, 2007. "Growth Prospects in China and India Compared," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 4(1), pages 65-89, June.
    7. Harish Mani & G. Bhalachandran & V. N. Pandit, 2011. "Public Investment In Agricultural And Gdp Growth-- Another Look At The Inter Sectoral Linkages And Policy Implications," Working papers 201, Centre for Development Economics, Delhi School of Economics.
    8. Arvind Virmani, 2012. "Accelerating And Sustaining Growth; Economic and Political Lessons," IMF Working Papers 12/185, International Monetary Fund.
    9. Chetan Ghate & Stephen Wright, 2008. "V-Factor: Distribution, timing and correlates of the the great Indian growth turnaround," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 08-03, Indian Statistical Institute, New Delhi, India.
    10. Ghate, Chetan & Wright, Stephen, 2012. "The “V-factor”: Distribution, timing and correlates of the great Indian growth turnaround," Journal of Development Economics, Elsevier, vol. 99(1), pages 58-67.
    11. Kala Seetharam Sridhar & A. Venugopala Reddy, 2011. "Investment and Economic Opportunities: Urbanization, Infrastructure and Governance in The North and South of India," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 18(1), pages 1-46, June.
    12. Kevin S. Nell, 2015. "The Complementary Nature Between Technological Progress and Capital Accumulation in India's Long-Run Growth Transitions," Metroeconomica, Wiley Blackwell, vol. 66(4), pages 565-605, November.
    13. World Bank Group, 2014. "Republic of India : Accelerating Agricultural Productivity Growth," World Bank Other Operational Studies 21419, The World Bank.
    14. Kevin S. Nell, 2013. "A Total Factor Productivity-Capital Accumulation Hypothesis of India’s Growth Transitions," CEF.UP Working Papers 1313, Universidade do Porto, Faculdade de Economia do Porto.

    More about this item

    Keywords

    Indian Economy; Economic Growth; Development; Phases of Growth; Socialism; Bharatiya Rate of Growth.;

    JEL classification:

    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • P0 - Economic Systems - - General

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