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The Indian Growth Miracle And Endogenous Growth

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

Using over half a century of R&D data for India, this paper tests whether the second-generation endogenous growth theories are consistent with India’s growth experience. Furthermore, the paper also examines the extent to which growth in India can be explained by R&D activity, international R&D spillovers, catch-up to the technology frontier and policy reforms. The empirical results show that the growth in India over the past five decades has been significantly driven by research intensity following the predictions of Schumpeterian growth theory.

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File URL: http://www.buseco.monash.edu.au/eco/research/papers/2009/0309indianmadsensaxenaang.pdf
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Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 03-09.

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Length: 37 pages
Date of creation: Aug 2009
Date of revision:
Handle: RePEc:mos:moswps:2009-03
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