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The Indian Growth Miracle And Endogenous Growth

  • Jakob Madsen
  • Shishir Saxena
  • James Ang

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.

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Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 17/08.

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Length: 27 pages
Date of creation: 05 Jun 2008
Date of revision:
Handle: RePEc:mos:moswps:2008-17
Contact details of provider: Postal: Department of Economics, Monash University, Victoria 3800, Australia
Phone: +61-3-9905-2493
Fax: +61-3-9905-5476
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