This paper answers the puzzling questions that why under the similar set of economic conditions service sector in India grew while manufacturing could not and how economic reforms in 1990s accelerated the productivity growth. The paper provides a very innovative and convincing explanation. Two...

Studies on Indian manufacturing have been unable to provide consistent estimates of productivity and its growth rates. This paper performs detailed and exhaustive set of accounting exercises for the period 1970-2003 using production function, index number and envelopment analysis methods. TFP...

Constructing data series from various sources, I do comprehensive growth accounting for the Indian Economy. Without accounting for human capital, total factor productivity differences over time accounts for 48% to 69% of output variation. TFP growth accounts for 35% to 70% of the total GDP...

This paper discusses the effect of technological innovation on consump- tion side. Apart from Quality effect (improvement in the quality of service or reduction in constant-quality price), there is another ”Consolidation effect”. This takes form of more features (which can be enjoyed...

”Software/ Skills” capital differs from usual physical capital (or hard- ware) in the sense that it is non-rival and can be replicated at a cost (e.g. patent fee or training costs). A basic model of production is developed which involves production sector and training or replication sector...