J-Curve of Productivity and Growth; Indian Manufacturing Post-Liberalization
Most estimates of Indian manufacturing productivity find a slowdown in the 1990s. This has puzzled analysts, given that 1990s reforms were deeper and wider than the 1980s reforms that raised the growth rate of the Indian economy by 2 per cent points. This paper tests the hypothesis of the J curve of Productivity and Growth following major liberalization and finds it to be broadly supported by the data: Technological obsolescence, gradual adoption of new technology and learning by doing result in negative effects on measured productivity.
|Date of creation:||01 Jul 2011|
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- Helpman, Elhanan & Rangel, Antonio, 1999.
"Adjusting to a New Technology: Experience and Training,"
Journal of Economic Growth,
Springer, vol. 4(4), pages 359-83, December.
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