The paper attempts to examine whether there is price convergence across various regions in India. Our results indicate significant presence of cross-sectional de- pendence in prices in India, rendering some of the standard panel unit root tests inapplicable. Using various panel unit root tests...

The existing literature on Indian growth finds no evidence of convergence across states. This represents a puzzle given the relatively free flows of capital, labor and commodities across state borders. We use a new data set of district level income and socio-economic data to explore the...

The present study has two purposes. First, the study examines the most substantive and debatable question: Is there any long-run relationship among money, price and output? It has been found by applying different tests of cointegration that there is no long-run relationship among these three...

The unbalanced nature of India’s growth has caused considerable concern but little is known about its causes. We use a new data set of district-level income and socio-economic data to explore the determinants of transitional growth at the district level. We find that there is absolute...