This paper examines the link between structural change and growth in India. 1988 is a structural break in the two time series, consistent with Panagariya (2008). There is a one-way causality from structural change to growth in 1988-2007, but no linkage pre-1988.

The challenges threatening financial stability have grown owing to the increasing uncertainties in the global markets since the financial crisis. This has led policymakers to grant a larger role to financial stability in their implementations. Accordingly, the Turkish Central Bank modified its...

This paper contributes to the debate on the effects of fiscal stimuli by showing that the impact of government expenditure depends on its composition. Government spending is not homogeneous and its effects on economic variables vary depending on its type. Comparing the effects of three types of...

What contribution can information technology (IT) make to India’s overall economic development? This paper provides an analytical framework centred around the concepts of comparative advantage, complementarities, and innovation. There is strong evidence that India has a strong and sustainable...

Purpose: The Green Revolution transformed agriculture in the Indian State of Punjab, with positive spillovers to the rest of India, but recently the state’s economy has fallen dramatically in rankings of per capita state output. Understanding the trajectory of Punjab’s economy has important...

Purpose – The purpose of this paper is to examine the impact of transaction costs on economic welfare and development, and the role of information technology (IT) in reducing transaction costs. Design/methodology/approach – The paper extends the static model of Romer, in which transaction...

Purpose – This paper aims to examine the experience of ten Asian countries with respect to growth, trade and FDI. It seeks to explore relationships between the nature of exports and imports and growth, as well as the relevance of FDI as a channel for these relationships....