The 'V-Factor': Distribution, Timing and Correlates of the Great Indian Growth Turnaround

42 Pages Posted: 6 May 2008

See all articles by Chetan Ghate

Chetan Ghate

Indian Statistical Institute - Planning Unit; German Institute for Economic Research (DIW Berlin)

Stephen H. Wright

Birkbeck College, University of London

Date Written: April 2008

Abstract

The ratio of Indian to US per capita output over the past 45 years has displayed a distinctive "V"-shaped pattern. We show that a strikingly similar V-shaped pattern is visible not just in aggregate output .figures, but also as the primary determinant of long-term movements in the cross-sectional distribution within the All-India total, at both sectoral and state output levels. We also carry out preliminary investigations of correlates of the "V-Factor", using a new panel data set for Indian states from 1960 to 2005 that extends and encompasses all previous datasets relevant to macroeconomic analysis of the Indian states.

Keywords: Principal components, divergence, Indian States

JEL Classification: O10, O40, O53, O47

Suggested Citation

Ghate, Chetan and Wright, Stephen H., The 'V-Factor': Distribution, Timing and Correlates of the Great Indian Growth Turnaround (April 2008). DIW Berlin Discussion Paper No. 783, Available at SSRN: https://ssrn.com/abstract=1129771 or http://dx.doi.org/10.2139/ssrn.1129771

Chetan Ghate (Contact Author)

Indian Statistical Institute - Planning Unit ( email )

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German Institute for Economic Research (DIW Berlin) ( email )

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Berlin, 10117
Germany

Stephen H. Wright

Birkbeck College, University of London ( email )

Malet St
London, WC1 E7HX
United Kingdom

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