- India and the World Economy, 1757–1947
- Battles Half Won: Political Economy of India's Growth and Economic Policy Since Independence
- Estimating Rural Poverty: Distributional Outcomes, Evaluations, and Policy Responses
- Microfinance: The Shg-Linkage Program
- Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market
- Caste and Upward Mobility
- Performance of Indian Manufacturing in the Postreform Period
- Informal Sector and the Developing World: Relating Theory and Evidence to India
- Structural Transformation and Jobless Growth in the Indian Economy
- Development, Displacement, and Food Security: Land Acquisition in India
- Reforming Primary and Secondary Schooling
- Higher Education Reforms in India
- Health and Health Care Policy in India: The Case for Quality of Care
- Population Dynamics in India and Implications for Economic Growth
- The Dynamics and Status of India's Economic Reforms
- Political Economy of Infrastructure Spending in India
- Aspects of Bureaucratic Corruption
- Distributive Conflicts and Indian Economic Policy: Some Notes On Political Economy
- Economic Growth and Ecological Sustainability in India
- Fiscal Rules in India: are they Effective?
- Financial Frictions and Monetary Policy Transmission in India
- Monetary Policy, Capital Flows, and the Exchange Rate
- India's Trade and Exchange-Rate Policies: Understanding the Bop Crisis and the Reforms Thereafter
- Domestic Financial Sector Reforms
- The Convergence Debate and Econometric Approaches: Evidence from India
- The Globalization Debate and India
- India at the WTO: From Uruguay to Doha and Beyond
- An Estimated DSGE Model of the Indian Economy
- Development Patterns in China and India: Perspective with A Ces Production Function
- What More do we want to know about the Indian Economy?
Abstract and Keywords
This article aims to account for the pattern of structural transformation seen in the Indian economy during the period 1970–2007. It develops a three-sector general equilibrium model consisting of agriculture, industry, and services. Output in each sector is produced using capital, labor, and land (in agriculture). The production function in each sector is assumed to be Cobb-Douglas, and different values of capital and labor shares are allowed for as well as different growth rates of total factor productivity (TFP) across the sectors. Using sectoral data, sector-specific TFP growth rates are calculated which are fed exogenously into the model with the objective of examining the model's performance with respect to the evolution of sectoral value-added shares as well as sectoral employment shares over the sample period.
Samarjit Das (Indian Statistical Institute-Kolkata)
Saibal Kar (Centre for Studies in Social Sciences, Calcutta; Institute for the Study of Labor, Bonn, Germany)
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