ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Yield Spread as a Lead Indicator of Real Economic Activity

An Empirical Exercise on the Indian Economy

This paper provides evidence on the ability of the yield spread to predict industrial activity in India. The study also shows that the linkage demand for working capital responds to changes in yield spread, and that working capital makes a significant contribution to output generation. Thus yield spread could act as a lead indicator of industrial growth in the country.

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