This book studies pitfalls in value added accounting of sectoral growth in real terms in the context of liberalisation of the Indian economy. Growth of sectoral gross value added can systematically deviate from that of final expenditure (and gross output), even maintaining the broad national...

Structural transformation in most currently developing countries takes the form of a rapid rise in services but limited industrialization. In this paper, we propose a new methodology to structurally estimate productivity growth in service industries that circumvents the notorious difficulties in...