This short note provides some supplementary analysis to the regressions in Section 5 of Ghate and Wright (forthcoming), that was carried out after the refereeing process for that paper was completed, and hence could not be included in the published version. It is not a free-standing paper, but...

The ratio of Indian to US per capita output over the past 45 years has displayed a distinctive "V"-shaped pattern. We show that a strikingly similar V-shaped pattern is visible not just in aggregate output figures, but also as the primary determinant of long-term movements in the cross-sectional...

The ratio of Indian to US per capita output over the past 45 years has displayed a distinctive "V"-shaped pattern. We show that a strikingly similar V-shaped pattern is visible not just in aggregate output .figures, but also as the primary determinant of long-term movements in the...

Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common "V-Factor" accounts for a large part of the significant shift in the cross-sectional...

In Ghate & Wright Journal of Development Economics, vol. 99 (2012) pp 58–67, it was noted that there was considerable variation in the extent to which different Indian states participated in the Great Indian Growth Turnaround. In this paper it is investigated whether there was any...

We analyze a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. Using principal components (Bai, 2004; Bai and Ng, 2004) we find that a single common “V-factor” captures well the significant shift in the cross-sectional distribution of state-sectoral...

Although political scientists have in the last few decades learned much about the abstract properties of multicandidate electoral systems, we have accumulated little theoretical knowledge on the ways in which strategic behavior of voters and candidates changes when we move from one voting system...

A predictive regression for y(t) and a time series representation of the predictors, x(t), together imply a univariate reduced form for y(t). In this paper we work backwards, and ask: if we observe y(t), what do its univariate properties tell us about any x(t) in the "predictive space"...

In 1997 the new Labour government launched major initiatives in the area of financial regulation, setting up the Financial Services Authority as a comprehensive regulatory body, supported by the legislative framework of the Financial Services and Markets Act 2000. We evaluate the Labour...

Any non-stationary series can be decomposed into permanent (or 'trend') and transitory (or 'cycle') components. Typically some atheoretic pre-filtering procedure is applied to extract the permanent component. This paper argues that analysis of the fundamental underlying stationary economic...