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...

This paper attempts to examine, compare and forecast the per capita GDP of India, the USA, China, and Japan for a period of ten years from 2020 to 2029. It studies the concept of economic convergence which states that the developing economies’ per capita income levels tend to move at a faster...