Counter factual policy simulations of sustained increase in public investment in infrastructure, financed through borrowing from commercial banks, shows substantial increase in private investment and thereby output in this sector. Further, due to increase in absorption, real private investment...

This paper attempts to build an aggregative, structural, macroeconometric model for India. Investment and output in the model are disaggregated into four sectors, viz., (a) agriculture including forestry & fishing, (b) manufacturing, (c) infrastructure, which includes power, transport,...

A new model of economic growth introduces the knowledge filter between new knowledge and economically useful knowledge. It identifies both new ventures and incumbent firms as the mechanisms that penetrate the knowledge filter. Recent empirical work has shown that new firms are more proficient at...

A new model of economic growth introduces the knowledge filter between new generic knowledge and economically-useful knowledge. It identifies both the formation of new ventures and the absorptive capacity of incumbent firms as the mechanisms that penetrate the knowledge filter. Recent empirical...

This thesis first presents India’s economy and financial system’s recent history and current issues. Then, with an emphasis on the recent turmoil period, it studies the question of financial integration in various markets: equity markets are dealt with in the 1st chapter, CDS spreads are...

China and India have emerged as highly dynamic economies in recent years. In the Asian region their growth and economic expansion has generated its own complementarities. The paper has empirically shown that surge in the exports of these two countries have significantly contributed to their...

Among fast growing developing countries, India is distinctive for the role of the service sector. However, sceptics have raised doubts about both the quality and sustainability of the increase in service sector activity and its implications for economic development. Using National Accounts...

Analysing the impact of trade on manufacturing employment in India, it is found that exports had a favourable effect on industrial employment, but the positive effect of export increase was offset by the negative effect of increases in imports. The net effect was marginal. The failure of trade...

In this paper, we develop an endogenous growth model that combines structural change with repeated product improvements. There are two sectors in the present paper, one is traditional sector, and the other is modern sector. The technological progress in the traditional sector takes the form of...