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This chapter investigates the trajectory of economic growth in India in the post-independence period. The study identifies various phases of growth of aggregate GDP and its sectors using the methodology of Bai and Perron (Econometrica 66:47–78, 1998). The methodology has the advantage that it is immune to the researcher’s prior beliefs. The chapter discusses the growth phases of the aggregate economy, thus, identifies their origins in terms of sectoral growth changes. In the last section, the chapter discusses the significance of the growth accelerations of the economy and the different explanations provided.

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Economic Growth in India: A Longer View

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  • 发表日期：

    2025年

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  • M. Parameswaran,
  • Pulapre Balakrishnan

摘要

This chapter investigates the trajectory of economic growth in India in the post-independence period. The study identifies various phases of growth of aggregate GDP and its sectors using the methodology of Bai and Perron (Econometrica 66:47–78, 1998). The methodology has the advantage that it is immune to the researcher’s prior beliefs. The chapter discusses the growth phases of the aggregate economy, thus, identifies their origins in terms of sectoral growth changes. In the last section, the chapter discusses the significance of the growth accelerations of the economy and the different explanations provided.