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Economic reforms and manufacturing productivity: Evidence from India

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  • Saibal Ghosh

Abstract

Using data on 2-digit industry for 1981-2004, the study examines the association between growth in total factor productivity and economic reforms. Accordingly, we first compute industry-level productivity growth using advanced econometric techniques and thereafter ascertain the time frame over which economic reforms impact productivity. The evidence suggests that productivity growth is not reliably higher after reforms than prior to reforms. In addition, the findings indicate that it is primarily the interest rate channel that is important in explaining changes in productivity. Among macroeconomic policies, trade reforms and industrial delicensing appear to be instrumental in explaining productivity changes.

Suggested Citation

  • Saibal Ghosh, 2010. "Economic reforms and manufacturing productivity: Evidence from India," EERI Research Paper Series EERI_RP_2010_32, Economics and Econometrics Research Institute (EERI), Brussels.
  • Handle: RePEc:eei:rpaper:eeri_rp_2010_32
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    File URL: http://www.eeri.eu/documents/wp/EERI_RP_2010_32.pdf
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    Keywords

    Economic reforms; total factor productivity; Levinsohn Petrin; Indian manufacturing.;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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