Pub Date : 2024-03-19DOI: 10.1177/00194662241238588
Pooja Misra, Jaya Gupta
The COVID-19 pandemic ignited an unprecedented emergency for countries across the globe. The twin threats to lives and livelihood caused due to the pandemic brought severe ramifications to the Indian economy. The labour market faced the brunt exponentially, and the same is evident from the extensive research studies undertaken in this realm. A large volume of research has been published in this domain analysing the impact of COVID-19. This bibliometric study presents the dominant areas of current research upon analysing the extant literature on the economic impact of the pandemic. The study identifies prevalent topics and themes mapped from the existing knowledge base by applying natural language processing (NLP) and machine learning. The study proposes areas for further research. JEL Codes: I1, I3, E7 1, E2
{"title":"Envisioning Emerging Research \u2028Trends on Impact of COVID-19 on Indian Economy: A Bibliometric \u2028Study Applying Latent Semantic Analysis and Text Mining Technique","authors":"Pooja Misra, Jaya Gupta","doi":"10.1177/00194662241238588","DOIUrl":"https://doi.org/10.1177/00194662241238588","url":null,"abstract":"The COVID-19 pandemic ignited an unprecedented emergency for countries across the globe. The twin threats to lives and livelihood caused due to the pandemic brought severe ramifications to the Indian economy. The labour market faced the brunt exponentially, and the same is evident from the extensive research studies undertaken in this realm. A large volume of research has been published in this domain analysing the impact of COVID-19. This bibliometric study presents the dominant areas of current research upon analysing the extant literature on the economic impact of the pandemic. The study identifies prevalent topics and themes mapped from the existing knowledge base by applying natural language processing (NLP) and machine learning. The study proposes areas for further research. JEL Codes: I1, I3, E7 1, E2","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"56 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140230927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-19DOI: 10.1177/00194662241235489
I. Chowdhury, Anusree Paul
The present study is based on the remote opencast coal mining region of a mineral-rich Indian state, Odisha. Our estimation confirms our primary hypothesis that proximity to opencast mining, triggers the likelihood of respiratory illness (RI). Moreover, our investigation affirms the presence of selection bias possibly due to underreporting in the self-reported RI episodes. We try to address the above causality through the pathways of both exogeneity and endogeneity of RI. After controlling for the endogeneity of RI episodes, it is evident that the effect of RI reporting on related health expenditure is grossly overestimated under the assumption of exogeneity. In the regressions, the variable of prime importance, that is, the distance from mine, treatment dummy and per capita income are statistically significant, indicating the high likelihood of RI episodes in closer proximity to the mining region, in the treatment villages over control villages. The positive significance of per capita income also supports the presence of selection bias possibly associated with self-reported RI episodes. Both estimation methods indicate that the proximity to the pollution source increases the health expenditure on RI. For treatment villages, a higher distance to healthcare facilities reduces health expenditure. The pollution load and healthcare inaccessibility are implicated through a latent burden of disease which warrants a serious policy intervention towards partial correction of the externalities for achieving sustainable and equitable development. JEL Codes: C36, I15, Q53
本研究以印度矿产丰富的奥迪沙邦的偏远露天采煤区为基础。我们的估计结果证实了我们的主要假设，即靠近露天开采的煤矿会引发呼吸道疾病（RI）。此外，我们的调查还证实了选择偏差的存在，这可能是由于在自我报告的 RI 事件中存在漏报。我们试图通过 RI 的外生性和内生性途径来解决上述因果关系。在控制了风险 感染事件的内生性后，可以明显看出，在外生性假设下，风险感染报告对相关医疗支出的影 响被严重高估。在回归中，最重要的变量（即与矿区的距离）、治疗虚拟变量和人均收入在统计上显著，表明治疗村比对照村更接近矿区，更有可能发生区域感染事件。人均收入的正显著性也支持了可能与自我报告的 RI 事件相关的选择偏差的存在。两种估算方法都表明，距离污染源越近，用于 RI 的医疗支出就越高。对于治疗村而言，与医疗设施的距离越远，医疗支出就越少。污染负荷和医疗保健的不可得性与潜在的疾病负担有关，需要采取严肃的政策干预措施，以部分纠正外部效应，实现可持续的公平发展。JEL Codes：C36, I15, Q53
{"title":"Respiratory Health and Air Pollution in Opencast Coal Mining Region: A Study in Mahanadi Coalfield, Odisha, India","authors":"I. Chowdhury, Anusree Paul","doi":"10.1177/00194662241235489","DOIUrl":"https://doi.org/10.1177/00194662241235489","url":null,"abstract":"The present study is based on the remote opencast coal mining region of a mineral-rich Indian state, Odisha. Our estimation confirms our primary hypothesis that proximity to opencast mining, triggers the likelihood of respiratory illness (RI). Moreover, our investigation affirms the presence of selection bias possibly due to underreporting in the self-reported RI episodes. We try to address the above causality through the pathways of both exogeneity and endogeneity of RI. After controlling for the endogeneity of RI episodes, it is evident that the effect of RI reporting on related health expenditure is grossly overestimated under the assumption of exogeneity. In the regressions, the variable of prime importance, that is, the distance from mine, treatment dummy and per capita income are statistically significant, indicating the high likelihood of RI episodes in closer proximity to the mining region, in the treatment villages over control villages. The positive significance of per capita income also supports the presence of selection bias possibly associated with self-reported RI episodes. Both estimation methods indicate that the proximity to the pollution source increases the health expenditure on RI. For treatment villages, a higher distance to healthcare facilities reduces health expenditure. The pollution load and healthcare inaccessibility are implicated through a latent burden of disease which warrants a serious policy intervention towards partial correction of the externalities for achieving sustainable and equitable development. JEL Codes: C36, I15, Q53","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"65 s93","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140229972","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-15DOI: 10.1177/00194662241235618
Sandhya Dubey
{"title":"Ashok K. Lahiri, India in Search of Glory: Political Calculus and Economy. Penguin, Gurugram, Haryana, India, 2022, Hardcover: 712 pp. Price: ₹1499, ISBN: 9780670092079","authors":"Sandhya Dubey","doi":"10.1177/00194662241235618","DOIUrl":"https://doi.org/10.1177/00194662241235618","url":null,"abstract":"","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"50 226","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140236990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-11DOI: 10.1177/00194662241230657
Sumit Kumar, Baljit Kaur
The topic of public expenditure efficiency has gained a key position in the spheres of public policy goals. This article tries estimating the efficiency of public spending on health and education sectors across Indian states from 1990–1991 to 2016–2017. In input–output linkage, we have computed efficiency using a slacks-based measure model of data envelopment analysis through different orientations. The study also captures the externalities of public spending efficiency with some exogenous factors. It also suggests that these exogenous factors (such as good governance, per capita income and proportion of literates in the household) have significantly improved the output efficiency score of the health as well as the education sectors across Indian states. JEL Codes: H51, H52, H21, E61
{"title":"Evaluating Public Spending Efficiency and its Determinants Towards Social Outcomes: Empirical Evidence from Indian States","authors":"Sumit Kumar, Baljit Kaur","doi":"10.1177/00194662241230657","DOIUrl":"https://doi.org/10.1177/00194662241230657","url":null,"abstract":"The topic of public expenditure efficiency has gained a key position in the spheres of public policy goals. This article tries estimating the efficiency of public spending on health and education sectors across Indian states from 1990–1991 to 2016–2017. In input–output linkage, we have computed efficiency using a slacks-based measure model of data envelopment analysis through different orientations. The study also captures the externalities of public spending efficiency with some exogenous factors. It also suggests that these exogenous factors (such as good governance, per capita income and proportion of literates in the household) have significantly improved the output efficiency score of the health as well as the education sectors across Indian states. JEL Codes: H51, H52, H21, E61","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"59 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140252193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-03DOI: 10.1177/00194662241230658
Aditya Keshari, Amit Gautam
The study examines the influence of tradable assets in integrating the Indian stock market with global stock markets. The movement in the foreign indices has a direct spillover effect on the assets cross-listed on these exchanges in the form of American depository receipts and global depositary receipts, and the effect is simultaneously shifted to the domestic market index due to the dual listing of domestic assets. The findings of the study indicate that there is a prolonged effect of all markets combined on the Indian market during the period, and that the long-term effect between the Indian and US markets is also consistent in the long run, while the Wald test also supports the presence of a short-term effect between the Indian and US markets. Long-term and short-term causation patterns are lacking in the Luxembourg market, illustrating the partial integration of the financial markets. The present study is instrumental for investors in identifying exogenous markets for portfolio diversification, thus enabling businesses to have a global reach. JEL Codes:J C32, C58, D53
{"title":"Stock Market Integration Through Internationally Tradable Assets","authors":"Aditya Keshari, Amit Gautam","doi":"10.1177/00194662241230658","DOIUrl":"https://doi.org/10.1177/00194662241230658","url":null,"abstract":"The study examines the influence of tradable assets in integrating the Indian stock market with global stock markets. The movement in the foreign indices has a direct spillover effect on the assets cross-listed on these exchanges in the form of American depository receipts and global depositary receipts, and the effect is simultaneously shifted to the domestic market index due to the dual listing of domestic assets. The findings of the study indicate that there is a prolonged effect of all markets combined on the Indian market during the period, and that the long-term effect between the Indian and US markets is also consistent in the long run, while the Wald test also supports the presence of a short-term effect between the Indian and US markets. Long-term and short-term causation patterns are lacking in the Luxembourg market, illustrating the partial integration of the financial markets. The present study is instrumental for investors in identifying exogenous markets for portfolio diversification, thus enabling businesses to have a global reach. JEL Codes:J C32, C58, D53","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"74 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140267261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-27DOI: 10.1177/00194662241227587
Shikha Malhotra, Chaya Bagrecha
The augment of economic globalisation and financial integration in the past few decades has changed the dynamics of international developments. This has resulted in discussions on the immediate and frequent impact of global factors on emerging and developing economies. The objective of this research is to determine how the global economy’s output and liquidity affect India’s economic growth. The period of the study chosen is from 2000 to 2019 (quarterly). The empirical findings from the application of the NARDL approach suggest that the increase in global economic output increases domestic growth. Domestic economic growth is boosted by rising global liquidity, but both falling global liquidity and falling global economic production have no statistically significant results. JEL Codes: B22, C32, F21, F36, F43
{"title":"Asymmetrical Effects of Global Liquidity and Global Economic Output on Domestic Economic Growth: Evidence from India based on NARDL Approach","authors":"Shikha Malhotra, Chaya Bagrecha","doi":"10.1177/00194662241227587","DOIUrl":"https://doi.org/10.1177/00194662241227587","url":null,"abstract":"The augment of economic globalisation and financial integration in the past few decades has changed the dynamics of international developments. This has resulted in discussions on the immediate and frequent impact of global factors on emerging and developing economies. The objective of this research is to determine how the global economy’s output and liquidity affect India’s economic growth. The period of the study chosen is from 2000 to 2019 (quarterly). The empirical findings from the application of the NARDL approach suggest that the increase in global economic output increases domestic growth. Domestic economic growth is boosted by rising global liquidity, but both falling global liquidity and falling global economic production have no statistically significant results. JEL Codes: B22, C32, F21, F36, F43","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"25 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140426121","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-25DOI: 10.1177/00194662241230655
Tahir Fazal Choudhary, Meenakshi Gupta
The study examines the impact of climatic changes on the production of the major crops grown in India. The study estimates the panel data from 1970 to 2020 by using the Panel Autoregressive Distributed Lag technique. The results of the study show that in the long run, maximum temperature has a negative impact on crop production, whereas carbon dioxide emissions have a positive impact on crop production. In the short run, maximum temperature and average precipitation positively affect crop production, whereas minimum temperature negatively affects the production of crops. Besides climatic variables, the study also incorporates non-climatic variable such as the area under crop. The results revealed that the area under crop has a positive significant effect on crop production both in the short run and long run. JEL Codes: C50, Q1, Q15, Q54
{"title":"Impact of Climate Change on Agriculture: Evidence from Major Crop Production in India","authors":"Tahir Fazal Choudhary, Meenakshi Gupta","doi":"10.1177/00194662241230655","DOIUrl":"https://doi.org/10.1177/00194662241230655","url":null,"abstract":"The study examines the impact of climatic changes on the production of the major crops grown in India. The study estimates the panel data from 1970 to 2020 by using the Panel Autoregressive Distributed Lag technique. The results of the study show that in the long run, maximum temperature has a negative impact on crop production, whereas carbon dioxide emissions have a positive impact on crop production. In the short run, maximum temperature and average precipitation positively affect crop production, whereas minimum temperature negatively affects the production of crops. Besides climatic variables, the study also incorporates non-climatic variable such as the area under crop. The results revealed that the area under crop has a positive significant effect on crop production both in the short run and long run. JEL Codes: C50, Q1, Q15, Q54","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"2 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140433071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-25DOI: 10.1177/00194662241230659
Smruti Ranjan Sahoo
India’s exports of electronics products underwent two major phases after 2000–2001. A boom phase from 2000–2001 to 2008–2009, where growth of Indian electronic exports increased significantly, and a bust phase from 2009–2010 to 2019–2020, with drastic decline in its growth. This gives us an opportunity to estimate and compare the factors that help firms to sustain exports in different phases of export growth. Using firm-level panel data and instrumental variable Tobit (IVTobit) model, this study shows that during the boom period, firms’ spending on research and development (R&D), imported technology and raw materials explain their exports. Firms’ age and multinational enterprises (MNEs) affiliation are also important for export in this phase. In the bust period, along with firms’ age, import of technology and raw materials, domestic raw materials, size, advertisement expenses and production efficiency of firms have emerged as important factors in determining export. These finding suggests that larger firms with high technical efficiency manage to export even during the bust period. Moreover, to export during the bust period, firms need to spend on domestic raw material, import of technologies and promotion of their products rather than spending on R&D activities. JEL Codes: F440, L6, L63, F140, L250, C240, C260
{"title":"Determinants of Export in Boom and Bust: Evidence from the Indian Electronics Industry","authors":"Smruti Ranjan Sahoo","doi":"10.1177/00194662241230659","DOIUrl":"https://doi.org/10.1177/00194662241230659","url":null,"abstract":"India’s exports of electronics products underwent two major phases after 2000–2001. A boom phase from 2000–2001 to 2008–2009, where growth of Indian electronic exports increased significantly, and a bust phase from 2009–2010 to 2019–2020, with drastic decline in its growth. This gives us an opportunity to estimate and compare the factors that help firms to sustain exports in different phases of export growth. Using firm-level panel data and instrumental variable Tobit (IVTobit) model, this study shows that during the boom period, firms’ spending on research and development (R&D), imported technology and raw materials explain their exports. Firms’ age and multinational enterprises (MNEs) affiliation are also important for export in this phase. In the bust period, along with firms’ age, import of technology and raw materials, domestic raw materials, size, advertisement expenses and production efficiency of firms have emerged as important factors in determining export. These finding suggests that larger firms with high technical efficiency manage to export even during the bust period. Moreover, to export during the bust period, firms need to spend on domestic raw material, import of technologies and promotion of their products rather than spending on R&D activities. JEL Codes: F440, L6, L63, F140, L250, C240, C260","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"13 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140432162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-20DOI: 10.1177/00194662241227585
B. Basnayake, N. Chandrasekara
The exchange rate is one of the main components that represents the status of a country’s economic condition. This study mainly focuses on identifying an appropriate distribution that can capture the asymmetric behaviour of important currency exchange rates related to Sri Lanka. The true behaviour of the exchange rates of USD, EURO, JPY, AUD, GBP, CHF, SGD and CAD in terms of LKR was determined using flexible distributions of generalised lambda distribution (GLD), Normal Inverse Gaussian and Skew-Normal. The parameter estimation was carried out by maximum likelihood estimation (MLE), while for GLD, few more parameter estimation techniques were applied. To understand how well the fitted distributions identify the real behaviour of data, we conducted the goodness-of-fit (GOF) tests. The results from Cramer–Von Mises (CvM) and Anderson–Darling (AD) GOF tests pointed out that the exchange rates data follow a GLD with the parameter estimation of maximum product of spacings (MPS). Further, plots of histograms with theoretical densities, cumulative distribution functions (CDFs) with empirical CDF and Quantile–Quantile plots illustrated the same idea. This study presented the findings based on different suitable parameter estimation techniques and this study is the first investigation on the distribution identification of exchange rates in Sri Lanka. JEL Codes: C12,C13,G10
{"title":"Identifying the Probability Distribution of Exchange\u2028Rates in Sri Lanka","authors":"B. Basnayake, N. Chandrasekara","doi":"10.1177/00194662241227585","DOIUrl":"https://doi.org/10.1177/00194662241227585","url":null,"abstract":"The exchange rate is one of the main components that represents the status of a country’s economic condition. This study mainly focuses on identifying an appropriate distribution that can capture the asymmetric behaviour of important currency exchange rates related to Sri Lanka. The true behaviour of the exchange rates of USD, EURO, JPY, AUD, GBP, CHF, SGD and CAD in terms of LKR was determined using flexible distributions of generalised lambda distribution (GLD), Normal Inverse Gaussian and Skew-Normal. The parameter estimation was carried out by maximum likelihood estimation (MLE), while for GLD, few more parameter estimation techniques were applied. To understand how well the fitted distributions identify the real behaviour of data, we conducted the goodness-of-fit (GOF) tests. The results from Cramer–Von Mises (CvM) and Anderson–Darling (AD) GOF tests pointed out that the exchange rates data follow a GLD with the parameter estimation of maximum product of spacings (MPS). Further, plots of histograms with theoretical densities, cumulative distribution functions (CDFs) with empirical CDF and Quantile–Quantile plots illustrated the same idea. This study presented the findings based on different suitable parameter estimation techniques and this study is the first investigation on the distribution identification of exchange rates in Sri Lanka. JEL Codes: C12,C13,G10","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"22 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139958377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-19DOI: 10.1177/00194662241227582
Tonmoyee Hasan, Mohammad Morshedul Hoque
Due to the growing importance of Bangladesh’s service economy and the country’s expanding industrial sector, strengthening the service sector has become a primary objective. Given the size and interconnectedness of the services sector with the rest of the economy, it is critical to understand how it affects other macroeconomic variables, most notably output growth. Our primary objective is to survey and analyse the service sector’s current state to ascertain its contribution to economic growth. This study undertakes this investigation using systematic econometric approaches and annual data from 1972 to 2021. Findings suggest that expanding the service industry in Bangladesh positively impacts the country’s per capita income (PCI) growth rate. Particularly, if the service sector growth increases by one percentage point, the growth of per capita real GDP will increase by 0.62 percentage points. The finding has important policy implications. Most importantly, government needs to enact policies to promote the service sector of the country in an effort to achieve economic prosperity. JEL Codes: L80, O11, O14
{"title":"An Empirical Study of the Implications of Service Sector Growth for Output Growth in Bangladesh","authors":"Tonmoyee Hasan, Mohammad Morshedul Hoque","doi":"10.1177/00194662241227582","DOIUrl":"https://doi.org/10.1177/00194662241227582","url":null,"abstract":"Due to the growing importance of Bangladesh’s service economy and the country’s expanding industrial sector, strengthening the service sector has become a primary objective. Given the size and interconnectedness of the services sector with the rest of the economy, it is critical to understand how it affects other macroeconomic variables, most notably output growth. Our primary objective is to survey and analyse the service sector’s current state to ascertain its contribution to economic growth. This study undertakes this investigation using systematic econometric approaches and annual data from 1972 to 2021. Findings suggest that expanding the service industry in Bangladesh positively impacts the country’s per capita income (PCI) growth rate. Particularly, if the service sector growth increases by one percentage point, the growth of per capita real GDP will increase by 0.62 percentage points. The finding has important policy implications. Most importantly, government needs to enact policies to promote the service sector of the country in an effort to achieve economic prosperity. JEL Codes: L80, O11, O14","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"101 17","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140451416","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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