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Shock persistence in a dual economy model of India

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  • Richard Tiffin
  • P. J. Dawson

Abstract

This article examines shock persistence in agricultural and industrial output in India. Drawing on the dual economy literature, the linkages between the sectors through the terms of trade are emphasised. However, different dual economy models make differing assumptions regarding the categorisation of variables as being either endogenous or exogenous and this distinction is crucial in explaining the pattern of shock persistence. Using annual data for 1955-95, our results show that shocks to both output series are permanent while those to the terms of trade are transient.

Suggested Citation

  • Richard Tiffin & P. J. Dawson, 2003. "Shock persistence in a dual economy model of India," Journal of Development Studies, Taylor & Francis Journals, vol. 40(1), pages 32-47.
  • Handle: RePEc:taf:jdevst:v:40:y:2003:i:1:p:32-47
    DOI: 10.1080/00220380412331293657
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    Cited by:

    1. Tarlok Singh, 2016. "On the sectoral linkages and pattern of economic growth in India," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 21(2), pages 257-275, April.
    2. V N Pandit & Harish Mani & G Balachandran, 2011. "Public Investment in Agricultural and GDP Growth: Another Look at the Inter Sectoral Linkages and Policy Implications," Working Papers id:4385, eSocialSciences.

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