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Presence of Persistence in Industrial Production: The Case of India

Author

Listed:
  • Pami Dua

    (Delhi School of Economics)

  • 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 test as well as the Phillips Perron test. We also use the Bayesian framework which is superior to the classical procedure. 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," Working papers 63, Centre for Development Economics, Delhi School of Economics.
  • Handle: RePEc:cde:cdewps:63
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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.

    More about this item

    Keywords

    Persistence; Unit Roots; Industrial Production;

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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