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Services Reform and Manufacturing Performance : Evidence from India / Jens Matthias Arnold
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Arnold, Jens Matthias
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Banks & Banking Reform.
- E-Business.
- Economic Theory & Research.
- Emerging Markets.
- Foreign direct investment.
- Industry.
- International Economics & Trade.
- Manufacturing productivity.
- Services reform.
- Transport Economics Policy & Planning.
- Local Subjects:
- Banks & Banking Reform.
- E-Business.
- Economic Theory & Research.
- Emerging Markets.
- Foreign direct investment.
- Industry.
- International Economics & Trade.
- Manufacturing productivity.
- Services reform.
- Transport Economics Policy & Planning.
- Physical Description:
- 1 online resource (59 pages)
- Other Title:
- Services Reform and Manufacturing Performance
- Place of Publication:
- Washington, D.C., The World Bank, 2012
- System Details:
- data file
- Summary:
- The growth of India's manufacturing sector since 1991 has been attributed mostly to trade liberalization and more permissive industrial licensing. This paper demonstrates the significant impact of a neglected factor: India's policy reforms in services. The authors examine the link between those reforms and the productivity of manufacturing firms using panel data for about 4,000 Indian firms from1993 to 2005. They find that banking, telecommunications, insurance and transport reforms all had significant, positive effects on the productivity of manufacturing firms. Services reforms benefited both foreign and locally-owned manufacturing firms, but the effects on foreign firms tended to be stronger. A one-standard-deviation increase in the aggregate index of services liberalization resulted in a productivity increase of 11.7 percent for domestic firms and 13.2 percent for foreign enterprises.
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