India's economic prospects : a macroeconomic and econometric analysis / Thampy Mammen.

Format:

Book

Author/Creator:

Mammen, Thampy.

Series:

Economic ideas leading to the 21st century ; vol. 4.

Economic ideas leading to the 21st century ; vol. 4

Language:

English

Subjects (All):

Economic development--India.

Economic development.

India--Economic conditions--1947---Econometric models.

India.

Physical Description:

1 online resource (379 p.)

Place of Publication:

Singapore ; River Edge, NJ : World Scientific, c1999.

Language Note:

English

Summary:

This book provides a macroeconomic analysis of the Indian economy. It is a long-run study that spans the period from 1950-51 to 1992-93, encompassing the various turning points in India's economic policy and development strategies. The macroeconometric model used in the book integrates the monetary and real sectors of the economy. In order to provide theoretical underpinnings for the model, the book traces the development of macroeconomic theory including Keynesian, structuralist, and supply-side economics. The model explains the public sector's current and capital expenditures, rather than tr

Contents:

Foreword; Acknowledgments; Contents; Chapter 1 Evolution of Economic Policy since Independence; 1.1. Review of Economic Policy; 1.2. Achievements; 1.3. Critical Appraisal of Achievements; 1.4. Policy Changes in the Eighties; 1.5. The Third Stage and Concluding Remarks; Appendix 1A. Economic Policy Changes Since 1991; 1. Exchange Rate and Convertibility; 2. Foreign Trade; 3. Industrial Policy; 4. Tax Policy; Appendix 1B. Compound Rate of Growth; Appendix 1C. Average Annual Percentage Change; Appendix 1D. Average (COR) and Incremental Capital Output Ratio (ICOR)

Appendix 1E. Industry Wise Share of Real Fixed Investment - AverageAppendix 1F. Industry Wise Real Fixed Investment as Percentage of RGDP - Average; Appendix 1G. Sectoral Shares (Averages); Appendix 1H. Trade Deficit (-)/Surplus (+) (Billion Rs); Chapter 2 An Overview of Macroeconomic Theory; Introduction; 2.1. Classical Model; 2.2. Neoclassical Theory of Interest; 2.3. The Liquidity Preference Theory of Interest; 2.4. Keynesian-Monetarist Debate; 2.5. Post-Keynesian Framework; 2.6. Further Challenges to the IS-LM Framework; 2.7. Growth in Developing Countries

Chapter 3 India's Private Sector3.1. Consumption Function; 3.2. Personal Consumption; 3.3. Investment Expenditures; 3.4. Estimated Equations; Chapter 4 Public Sector; 4.1. Role of Government; 4.2. Tax Revenues; 4.3. Current Expenditures; 4.4. Public Sector Investments; 4.5. Overall Assessment of the Public Sector; Chapter 5 Foreign Sector; 5.1. Trend and Review of Trade Policy; 5.2. Trade Theory; 5.3. Estimates; 5.4. Devaluation and the Balance of Payments; Chapter 6 Supply and Demand for Money; 6.1. Demand for Money; 6.2. Money Supply; 6.3. Reserve Bank of India and Money Supply

6.4. Estimates of the Monetary SectorChapter 7 Price Formation and Completion of the Model; 7.1. Model for Price Formation; 7.2. Price Level and Unit Factor Cost; 7.3. Miscellaneous Equations to Complete the Model; Chapter 8 Model of the Indian Economy, 1950-51 and 1992-93; 8.1. System of Equations; 8.2. Simulation of the Model; 8.3. Policy Simulation; 8.4. Prediction; 8.5. Conclusion; Appendix 8A; I. Endogenous Variables; II. Exogenous Variables; III. Values of All Exogenous Variables; IV. Binary (Dummy) Variables; Appendix 8B; APPENDIX 8C; Chapter 9 Analysis and Conclusion

9.1. Supply Side Considerations9.2. Feasible Growth Rate of Output Under Various Scenarios; 9.2.1. Common minimum program and policy changes; 9.2.2. Baseline assumptions; 9.2.3. Baseline and benchmark cases; 9.2.4. Benchmark, monetary policy, and economic growth; 9.2.5. Fiscal and monetary policies, and economic growth; 9.2.6. Alternative expenditure reduction; 9.2.7. Fiscal, monetary, and trade policy mix and economic growth; 9.2.8. Equilibrium exchange rate; 9.2.9. Ninth plan; 9.2.10. Scenarios with endogenous money supply; 9.2.11. Equilibrium, exchange rate with endogenous money supply

9.2.12. Comparison with link model projection

Notes:

Description based upon print version of record.

Includes bibliographical references (p. 331-351) and index.

ISBN:

9789812812575

9812812571