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The Indian Growth Miracle And Endogenous Growth

Author

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  • Jakob B. Madsen
  • Shishir Saxena
  • James B. Ang

Abstract

Using over half a century of R&D data for India, this paper examines the extent to which India’s recent growth experience can be explained by R&D, international R&D spillovers, catch-up to the technology frontier and financial liberalization. Furthermore, the paper also tests whether any of the competing second-generation endogenous growth theories can explain India’s growth experience. The findings provide support for Schumpeterian growth theory and indicate that the recent high growth rates in India are likely to continue well into the future.

Suggested Citation

  • Jakob B. Madsen & Shishir Saxena & James B. Ang, 2008. "The Indian Growth Miracle And Endogenous Growth," CAMA Working Papers 2008-29, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:een:camaaa:2008-29
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    More about this item

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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