This paper examines the dynamic relationship between fiscal deficits, money supply, and price level in India during the period 1960-61 to 1999-2000. Using vector autoregression (VAR) econometric methodology, which allows variables to be treated as potentially endogenous, the study finds that...

This paper examines the validity of Purchasing Power Parity (PPP) in the context of South Asian countries namely India, Sri Lanka and Pakistan. The study verifies the PPP hypothesis that it is more pronounced either in developed countries as a group or developing countries but not between...

This paper examines the long-run relationship between the real exchange rate and productivity differentials on traded and non-traded goods in India and Japan by using the data relating to the period from 1974 to 1998. The study uses the co-integration technique and finds that there is an...

In this paper, the causal nexus between savings and economic growth in India is investigated within the framework of causality, co-integration and error correction in the presence of a structural break, using annual data from 1950-1951 to 1998-1999. Identifying the structural breaks in both...

Using the annual data from 1960-61 to 1996-97, this paper attempts to test the causal nexus between total central government expenditures and total central government revenues in the case of India, within the empirical framework of causality, cointegration and error correction mechanism in the...

This paper attempts to test the long run relationships among exports, imports, gross domestic capital formation, trade policy and GDP in India using annual data from 1965- 66 to 1997- 98. The empirical framework of Vector Autoregressions (VARs) augmented with an error correction mechanism has...