Bandyopadhyay, Sanghamitra (2003) Convergence club empirics: some dynamics and explanations of unequal growth across Indian states. DARP (69). Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.
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Abstract
This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and time series analyses. The findings reveal twin-peaks dynamics ¿ the existence of two income convergence clubs, one at 50 per cent, another at 125% of the national average income. Income disparities across states seem to have declined over the sixties, only to increase over the following three decades. The observed polarization is strongly explained by the disparate distribution of infrastructure, and that of education, and to an extent by a number of macroeconomic indicators, that of capital expenditure and fiscal deficits.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://sticerd.lse.ac.uk |
| Additional Information: | © 2003 Sanghamitra Bandyopadhyay |
| Divisions: | Economics STICERD |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HJ Public Finance |
| JEL classification: | E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East C - Mathematical and Quantitative Methods > C2 - Econometric Methods: Single Equation Models; Single Variables |
| Date Deposited: | 07 Jul 2008 09:06 |
| Last Modified: | 13 Sep 2024 19:51 |
| URI: | http://eprints.lse.ac.uk/id/eprint/6553 |
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