The Indian growth miracle and endogenous growth

Jakob B. Madsen, Shishir Saxena, James B Ang

Research output: Contribution to journalArticlepeer-review

66 Citations (Scopus)


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.

Original languageEnglish
Pages (from-to)37-48
Number of pages12
JournalJournal of Development Economics
Issue number1
Publication statusPublished - 1 Sept 2010
Externally publishedYes


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