MALLICK, HRUSHIKESH; AGARWAL, SHASHI - In: The Singapore Economic Review (SER) 52 (2007) 02, pp. 215-231
The study attempts to evaluate the impact of short-term real interest rate on growth rate in India in a liberalized financial and trade regime (March 1993 to March 2005). Using ARDL approach to cointegration of Pesaran and Shin (1999), the study finds that interest rate does not have a direct...