학술논문
Sectoral Contribution to Economic Development in India: A Time-Series Co-Integration Analysis
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- 영문명
- 발행기관
- 한국유통과학회
- 저자명
- Sandip SOLANKI Krishna Murthy INUMULA Asmita CHITNIS
- 간행물 정보
- 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.9, 191~200쪽, 전체 10쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2020.09.30
무료
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국문 초록
영문 초록
This research paper examines the causal relationship between India’s economic growth and sectoral contribution to Gross Domestic Product (GDP) and vice versa, in the short-run and long-run, over a 10 years time period. Johansen’s method of cointegration is used to study the cointegration between the sectoral contributions to Indian GDP vis-à-vis India’s economic growth. Further, the route of interconnection between economic growth and sectoral contribution is tested by using Vector Auto Regression (VAR) model. Special attention was given for investigating impulse responses of economic growth depending on the innovations in sectoral contribution using time-series data from 1960 to 2015. This paper highlighted a dynamic co-relationship among industrial sector contribution and agricultural sector contribution and economic development. In the long run, one percent change in industrial sector contribution causes an increase of 3.42 percent in the economic growth and an increase of 1.12 percent in the primary sector contribution, while in the short run industrial and service sector contributions showed significant impact on economic development and agriculture sector. The changing composition of sector contribution is going to be an important activity for the policymakers to monitor and control where the technology and integration of sectors play a significant role in economic development.
목차
1. Introduction
2. Literature Review
3. Data and Methods
4. Results and Discussion
5. Conclusion
References
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