Literature in economic development shows how countries diverge and converge in economic growth owing to technological change and capital accumulation. This paper examines micro-level issues of competitive rivalry of firms and consequent convergence of best practices. Multinational investment in...

Several developing economies, such as India, that had implemented policy reforms towards market mechanism have been experiencing high economic growth. This paper brings out the factors that determine micro level firm level productivity in the context of a developing economy that had undertaken...

The paper uses panel data for Indian industries in the post-reform period to study the direct and indirect productivity effects at firm level generated by foreign investment. It finds no evidence that foreign investment directly increases firm-level productivity, nor that R&D spending is more...

Presence of externalities can be significant in the developing economies, which have been able to augment aggregate economic growth in response to policy reforms. The empirical results of this paper based on firm level panel data for 12 Indian industries indicate presence of external economies...