TY - JOUR
T1 - The Indian growth miracle and endogenous growth
AU - Madsen, Jakob B.
AU - Saxena, Shishir
AU - Ang, James B
PY - 2010/9/1
Y1 - 2010/9/1
N2 - Using over half a century of R&D data for India, this paper tests whether the second-generation endogenous growth theories are consistent with India's growth experience. Furthermore, the paper examines the extent to which growth in India can be explained by R&D activity, international R&D spillovers, catch-up to the technology frontier and policy reforms. The empirical results show that the growth in India over the past five decades has been driven by research intensity following the predictions of Schumpeterian growth theory.
AB - Using over half a century of R&D data for India, this paper tests whether the second-generation endogenous growth theories are consistent with India's growth experience. Furthermore, the paper examines the extent to which growth in India can be explained by R&D activity, international R&D spillovers, catch-up to the technology frontier and policy reforms. The empirical results show that the growth in India over the past five decades has been driven by research intensity following the predictions of Schumpeterian growth theory.
KW - R&D
KW - Schumpeterian growth
KW - Semi-endogenous growth
UR - http://www.scopus.com/inward/record.url?scp=77953208876&partnerID=8YFLogxK
U2 - 10.1016/j.jdeveco.2009.06.002
DO - 10.1016/j.jdeveco.2009.06.002
M3 - Article
AN - SCOPUS:77953208876
SN - 0304-3878
VL - 93
SP - 37
EP - 48
JO - Journal of Development Economics
JF - Journal of Development Economics
IS - 1
ER -