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Title:The "V-Factor": distribution, timing and correlates of the great Indian growth turnaround PDF Logo
Authors:Ghate, Chetan
Wright, Stephen
Issue Date:2009
Series/Report no.:Jena economic research papers 2009,010
Abstract:Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common V-Factor accounts for a large part of the significant shift in the cross-sectional distribution of state-sectoral output growth rates since the mid -1980s. The time profile of the V-Factor appears to be closely related to trade liberalization.
Subjects:Economic Growth
factor models
principal components
convergence
divergence
Indian states
JEL:O10
O40
O53
O47
Document Type:Working Paper
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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