This paper presents a simple model of technology development that leads to a reduction in production costs. With constant returns to scale, it assumes that q_t= kappa (t) f_t (k_t) where q_t and k_t are respectively output and capital both per unit of labour and kappa reflects the efficiency of...

Majority of the studies estimating productivity in the Indian organized manufacturing sector have reported a slowdown in productivity growth in the 1990s, baffling the analysts as this came in backdrop of major economic reforms that were initiated in 1991. Some felt that productivity could...

This paper reviews India's growth performance since independence. One of the innovations in this paper is to take explicit account of rainfall variations that play a very important role in the Indian economy. This allows us to determine whether the Indian economy has become less dependent on the...