Globalization and Structural Changes in the Indian Industrial Sector: An Analysis of Production Functions
This study investigates the structural changes in the manufacturing sector of India brought about by liberalization and globalization of the economy. Structural changes in terms of employment of labor and capital, indicated by replacement of the former by the latter, and changes in returns to scale have been examined by estimating Constant Elasticity of Substitution (CES), Zellner-Revankar, Transcendental, Diewert and Bruno’s production functions. State-wise data for 1990-91 and 2003-04 have been analyzed. The findings have indicated that the rise in industrial output during the reference period is accountable to substitution of capital for labor in almost all states. The elasticity of substitution has declined for most of the states. In the pre-globalization period, the industries experienced increasing returns to scale. Globalization has given way to diminishing returns to scale. Along with a rise in industrial output, globalization has led to a decline in regional disparities in terms of population-deflated indices of employment of manpower and capital, and the resultant output.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): V (2007)
Issue (Month): 4 (November)
|Contact details of provider:|| |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mishra, SK, 2006. "Global Optimization by Differential Evolution and Particle Swarm Methods: Evaluation on Some Benchmark Functions," MPRA Paper 1005, University Library of Munich, Germany.
- Mishra, SK, 2006.
"Estimation of Zellner-Revankar Production Function Revisited,"
1172, University Library of Munich, Germany.
- SK Mishra, 2007. "Estimation of Zellner-Revankar Production Function Revisited," Economics Bulletin, AccessEcon, vol. 3(14), pages 1-7.
- Dasgupta, Madhuchhanda & Mishra, SK, 2004. "Least absolute deviation estimation of linear econometric models: A literature review," MPRA Paper 1781, University Library of Munich, Germany.
- Williams, Martin & Laumas, Prem S, 1984. "Economies of Scale for Various Types of Manufacturing Production Technologies in an Underdeveloped Economy," Economic Development and Cultural Change, University of Chicago Press, vol. 32(2), pages 401-12, January.
- Nigel L. Driffield & Uma S. Kambhampati, 2003. "Trade Liberalization and the Efficiency of Firms in Indian Manufacturing," Review of Development Economics, Wiley Blackwell, vol. 7(3), pages 419-430, 08.
- Shaikh, Anwar, 1974. "Laws of Production and Laws of Algebra: The Humbug Production Function," The Review of Economics and Statistics, MIT Press, vol. 56(1), pages 115-20, February.
- Kaliappa Kalirajan & Shashanka Bhide, 2004. "The Post-reform Performance of the Manufacturing Sector in India," Asian Economic Papers, MIT Press, vol. 3(2), pages 126-157.
- Sankar, Ulaganathan, 1970. "Elasticities of Substitution and Returns to Scale in Indian Manufacturing Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 399-411, October.
When requesting a correction, please mention this item's handle: RePEc:icf:icfjme:v:05:y:2007:i:4:p:56-81. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (G R K Murty)
If references are entirely missing, you can add them using this form.