Does public investment boost economic growth? Evidence from an open-economy macro model for India

Pal, Soubarna 2008. Does public investment boost economic growth? Evidence from an open-economy macro model for India. [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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Abstract

Using annual data for India for the period 1984-2003 and employing parametric technique (GMM), the present paper jointly determines GDP growth, real exchange rate and net foreign assets in Indian economy. There is evidence that public investment exerts a significant influence on real exchange rate and the growth rate and does so non-linearly. A comparison of the Indian estimates with those available for the UK and the USA economies is also revealing and highlights the role of governance on the effects of public investment.

Item Type:	Monograph (Working Paper)
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Subjects:	H Social Sciences > HB Economic Theory
Publisher:	Cardiff University
Date of First Compliant Deposit:	30 March 2016
Last Modified:	06 Oct 2015 13:03
URI:	https://orca.cardiff.ac.uk/id/eprint/77804

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