Scholarlink

Sources of India’s economic growth during 1951–1952 to 2019–2020 and five sub-periods, 1951–1966, 1967–1979, 1980–1993, 1994–2007 and 2008–2019 are analysed using the growth accounting framework. The analysis is undertaken at the aggregate economy level and for five major sectors of the economy. The trends in employment and capital formation in the sub-periods and the overall period are examined. The growth in real gross value added and the changes in the sectoral composition are studied. Further, how the sectoral pattern of aggregate TFP has evolved over time is investigated which brings out that the primary factor influencing sectoral variations in contributing to aggregate TFP growth was the relatively weak productivity growth performance of the manufacturing and non-manufacturing industries sector during the period prior to the initiation of liberal market reforms in India. An econometric analysis of determinants of TFP growth is undertaken which shows that education, trade openness, structural change and ICT investments have contributed to TFP growth.

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Sources of Growth in the Indian Economy: Looking Back at the Last 75 Years Since India’s Independence

  • 章节

  • 发表日期：

    2025年

查看全文
  • Bishwanath Goldar,
  • Dibyendu Maiti,
  • Suresh Chand Aggarwal,
  • Abdul Azeez Erumban,
  • Pilu Chandra Das

摘要

Sources of India’s economic growth during 1951–1952 to 2019–2020 and five sub-periods, 1951–1966, 1967–1979, 1980–1993, 1994–2007 and 2008–2019 are analysed using the growth accounting framework. The analysis is undertaken at the aggregate economy level and for five major sectors of the economy. The trends in employment and capital formation in the sub-periods and the overall period are examined. The growth in real gross value added and the changes in the sectoral composition are studied. Further, how the sectoral pattern of aggregate TFP has evolved over time is investigated which brings out that the primary factor influencing sectoral variations in contributing to aggregate TFP growth was the relatively weak productivity growth performance of the manufacturing and non-manufacturing industries sector during the period prior to the initiation of liberal market reforms in India. An econometric analysis of determinants of TFP growth is undertaken which shows that education, trade openness, structural change and ICT investments have contributed to TFP growth.