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Hatekar, Neeraj
- India's Growth Experience and the Missing Transition
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Authors
Affiliations
1 Center for Computational Social Sciences, University of Mumbai, Mumbai 400032, Maharashtra, IN
2 NIIT University, Neemrana, Alwar 301705, Rajasthan, IN
1 Center for Computational Social Sciences, University of Mumbai, Mumbai 400032, Maharashtra, IN
2 NIIT University, Neemrana, Alwar 301705, Rajasthan, IN
Source
Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics, Vol 54, No 2 (2012), Pagination: 115-137Abstract
This paper examines the structure of growth acceleration of the postindependence Indian economy using national as well as state level output figures and capital stock series at the national level. By examining the manner in which growth accelerations at various national and sub-national disaggregated series are clustered in time, we argue that they began in the 1980s and caught momentum in the 1990s. In moving away from excessive dependence on agriculture, Indian economy seems to have missed the Kuznets transition to an increased share of the manufacturing sector. This has important implications for employment and rural poverty.- The Demographic Basis of the ‘Middle Class’ in Maharashtra, 1900-1950
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Authors
Affiliations
1 Centre for Computational Social Sciences, University of Mumbai, Vidyanagari, Kalina, Santa Cruz (East), Mumbai 400 098, IN
2 Symbiosis Centre for Management and Human Resource Development, Pune, IN
3 Department of Economics, SIES College of Arts and Science, Sion, Mumbai, IN
1 Centre for Computational Social Sciences, University of Mumbai, Vidyanagari, Kalina, Santa Cruz (East), Mumbai 400 098, IN
2 Symbiosis Centre for Management and Human Resource Development, Pune, IN
3 Department of Economics, SIES College of Arts and Science, Sion, Mumbai, IN
Source
Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics, Vol 50, No 4 (2008), Pagination: 410-432Abstract
The middle class is often seen as the backbone of the market economy as well as democracy. However, the concrete processes through which the middle class takes on shape are still rather ambiguous. This paper argues that a key to the emergence of the middle class lies in the historical process by which some groups underwent a demographic transformation: delayed age at marriage, lower fertility and higher degrees of human capital formation as compared to other social groups. This paper examines in particular how a quintessential middle class community, the chitpavan Brahmins of Maharashtra, underwent a transformation in the age at marriage for women, between 1900 and 1950 in Maharashtra, and links it to larger ideological concerns over and above the usual material forces that shape demographic behaviour. The paper points to the importance of ideology and culture in understanding long term processes of demographic change that are often neglected by formal and a historical accounts in neoclassical models of demographic behaviour.- Book Review
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This book is a welcome addition to the Great Divergence debate, following the publication of Before and Beyond Divergence by R.Bin Wong and Why the West Rules for Now by Ian Morris. This book tries to apply the ‘California hypothesis’ to the Indian case. The California Hypothesis was essentially postulated by Kenneth Pomeranz in his ‘The Great Divergence: China, Europe and the Making of the Modern World Economy’, published in 2001, and ‘Re-Orient: The Global Economy in the Asian Age’ by Andre Gunder Frank, published in 1998. The broad lines of argument here are that instead of falling behind since the Ming age, the Chinese economy actually functioned rather well till the 18th century. The Industrial revolution gave Europe a temporary advantage, leading to the emergence of the ‘great divergence’ in modern times. Parthasarathi has tried to apply this argument in the Indian context.
Authors
Affiliations
1 Department of Economics, University of Mumbai, Kalina, Santa Cruz (East), Mumbai-400098, IN
1 Department of Economics, University of Mumbai, Kalina, Santa Cruz (East), Mumbai-400098, IN
Source
Journal of Indian School of Political Economy, Vol 24, No 1-4 (2012), Pagination: 721-723Abstract
Why Europe grew rich and Asia did not: global divergence, 1600-1850This book is a welcome addition to the Great Divergence debate, following the publication of Before and Beyond Divergence by R.Bin Wong and Why the West Rules for Now by Ian Morris. This book tries to apply the ‘California hypothesis’ to the Indian case. The California Hypothesis was essentially postulated by Kenneth Pomeranz in his ‘The Great Divergence: China, Europe and the Making of the Modern World Economy’, published in 2001, and ‘Re-Orient: The Global Economy in the Asian Age’ by Andre Gunder Frank, published in 1998. The broad lines of argument here are that instead of falling behind since the Ming age, the Chinese economy actually functioned rather well till the 18th century. The Industrial revolution gave Europe a temporary advantage, leading to the emergence of the ‘great divergence’ in modern times. Parthasarathi has tried to apply this argument in the Indian context.
- Empirical Tests of the Real Business Cycle Model for the Indian Economy
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Authors
Affiliations
1 Department of Economics, University of Bombay, Bombay, IN
1 Department of Economics, University of Bombay, Bombay, IN
Source
Journal of Indian School of Political Economy, Vol 7, No 2 (1995), Pagination: 326-336Abstract
In this paper, we have attempted to test some major implications of the real business cycles model of Long and Plosser [1931] using aggregate level annual data on the Indian economy for the period 1951-1985. Real business cycles imply that nominal magnitudes and real money balances cannot be exogenous driving mechanisms of the business cycle. These propositions have been tested in this paper. Section 1 discusses the low frequency properties of non-detrended data. In particular. those series in whose case the hypothesis of one or more unit ischolar_mains could not be rejected are identified on the basis of Phillips-Perron tests. Along with this, a system having secondary sector output and real balances and another having secondary sector output and wholesale prices is estimated via Johansen's 119881 cointegration, and tests of bidirectional causality following Miller and Russek [1990] have been taken. The short run business cycle is identified with data detrended using the Hodrick-Prescott filter with a weight of 400. Correlations of detrended gdp with various other detrended series are described. Section 2 takes tests of Granger causality and weak exogeneity for nominal and real money magnitudes and gdp over the cycle. Granger causality is confirmed from money to output. Though the results are somewhat ambiguous, they do not give clear cut support to the real business cycle model in the short run. In the long run, however, there is substantial support for the neutrality of money and prices.- Historical Behaviour of The Business Cycle in India: Some Stylized Facts for 1951-1985
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Authors
Affiliations
1 Department of Economics, University of Bombay, Bombay, IN
1 Department of Economics, University of Bombay, Bombay, IN
Source
Journal of Indian School of Political Economy, Vol 6, No 4 (1994), Pagination: 684-706Abstract
In this paper, we investigate some of the stylized facts about the business cycle in India over the period 1951-52 to 1985-86. The business cycle is identified with Hodrick-Prescott filtered data. In all, sixty-four different time series are detrended and their historical time paths and comovements with other time series are described. Some business cycle regularities in respect of these features are documented. It is suggested that such stylized facts should form the basis of dynamic general equilibrium modelling of the business cycle.- Money-Output Dynamics Over the Business Cycle-A Case Study of India
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Authors
Affiliations
1 University of Bombay, Kalina, Santa Cruz (East), Bombay-400098, IN
1 University of Bombay, Kalina, Santa Cruz (East), Bombay-400098, IN