sameeksha Current Issue : VOL 45 No. 35 August 28 - September 03, 2010    See Full Contents>>
     Article Details
    Understanding Economic Growth in India: A Prerequisite   (14th July 2007)
     Pulapre Balakrishnan , M Parameswaran
          This article follows a recent development in the estimation and testing of multiple structural breaks in linear models to identify phases of growth in India since 1950. The noteworthy feature of the methodology is that it allows the data to parametrise the model, thus yielding results that are immune to the prior beliefs of the researcher. The resulting estimates reveal that there are two growth regimes in India since 1950. The authors then decompose by sector the contribution to the change in the growth rate across these regimes. Finally, by means of a simple econometric model, they test a hypothesis that emerges from their estimation and testing for structural break in the main sectors of the economy to provide an explanation of the growth transition in India. In passing, the authors consider the bearing of their results on extant explanations of the same transition.


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