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 presents a comprehensive set of stylised facts for business cycles in India from 1950-2010. We show that most macroeconomic variables are less volatile in the post reform period, even though the volatility of macroeconomic variables is still high and similar to other emerging market...

Introduction / Chetan Ghate -- India's historical development -- India and the world economy : 1757-1947 / Tirthankar Roy -- Battles half won : political economy of India's growth and economic policy since independence / Sadiq Ahmed and Ashutosh Varshney -- New insights into tackling rural...

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