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Analysing the Structural Change and Growth Relationship in India
Examining the link between structural change and growth in India, this study constructs indices of structural change, and performs a panel data analysis using data for India's 16 major states. It finds that there is a one-way positive effect of structural change on growth during the 2000-06 period. This finding emerges when one allows the disturbances to be heteroscedastic, contemporaneously cross-sectionally correlated, and autocorrelated. The results are mostly reinforced when the sample is divided into richer and poorer states.
We are grateful to an anonymous referee for detailed comments and suggestions. Remaining shortcomings are our responsibility. The views expressed here are not those of the organisations we work for.
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