Understanding Indian economic growth: some observations
Abstract
The history of economic growth after
independence in India has been an
active field of empirical research leading to
debates on effectiveness of policy regimes.
The latest contribution by Balakrishnan and
Parameshwaran (henceforth B-P, 2007),
published in EPW on July 14, applying the
state of the art statistical techniques to find
breakdates in the time trend of the gross
domestic product (GDP) endogenously,
is a welcome addition to this literature.
The purpose of this note is to consider
a few findings of earlier studies (missed
out by B-P 2007) and thereby add to our
outstanding of Indian economic growth.
Had B-P gone back to 1992 for selecting
their references, they would have found
at least three studies directly relevant to
their methodology and findings.
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