Does Financial Growth Lead Economic Performance in India? Causality-Cointegration Using Unrestricted Vector Error Correction Models
| dc.contributor.author | Dr. Manoj Subhash Kamat | |
| dc.contributor.author | Dr. Manasvi M. Kamat | |
| dc.date.accessioned | 2025-02-27T07:26:05Z | |
| dc.date.available | 2025-02-27T07:26:05Z | |
| dc.date.issued | 2025-02-27 | |
| dc.description.abstract | Using contemporary models this paper explores the time-series properties of financial infrastructure and economic growth indicators to investigate the nexus between developments in financial intermediation with the economic growth for India over the 1971-2004 periods. Both over short-run and the long-run perspective the paper seeks to answer; whether the financial infrastructure variables are complementary or a substitute for economic performance? and in what way economic growth is affected by the financial infrastructural development indicators? We find evidence in favor of a short run financial infrastructure led economic growth. Finance is found to be a leading sector only in the short-term link in Granger causality tests with stationary variables. The study provides robust empirical evidence in favor of supply leading hypothesis for the Indian economy. | |
| dc.identifier.uri | http://mescollege.ndl.gov.in/handle/123456789/45 | |
| dc.language.iso | en | |
| dc.relation.ispartofseries | SSRN | |
| dc.title | Does Financial Growth Lead Economic Performance in India? Causality-Cointegration Using Unrestricted Vector Error Correction Models | |
| dc.type | Article |
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