J-Curve of Productivity and Growth: Indian Manufacturing Post-Liberalization

35 Pages Posted: 19 Jul 2011

See all articles by Arvind Virmani

Arvind Virmani

Indian Council for Research on International Economic Relations (ICRIER)

Danish A. Hashim

affiliation not provided to SSRN

Date Written: July 2011

Abstract

Most estimates of Indian manufacturing productivity find a slowdown in the 1990s. This has puzzled analysts, given that 1990s reforms were deeper and wider than the 1980s reforms that raised the growth rate of the Indian economy by 2 per cent points. This paper tests the hypothesis of the J curve of Productivity and Growth following major liberalization and finds it to be broadly supported by the data: Technological obsolescence, gradual adoption of new technology and learning by doing result in negative effects on measured productivity.

Suggested Citation

Virmani, Arvind and Hashim, Danish A., J-Curve of Productivity and Growth: Indian Manufacturing Post-Liberalization (July 2011). IMF Working Paper No. 11/163, Available at SSRN: https://ssrn.com/abstract=1888906

Arvind Virmani (Contact Author)

Indian Council for Research on International Economic Relations (ICRIER) ( email )

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Danish A. Hashim

affiliation not provided to SSRN ( email )

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