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Title:Twin peaks: Convergence empirics of economic growth across Indian States PDF Logo
Authors:Bandyopadhyay, Sanghamitra
Issue Date:2001
Series/Report no.:WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/142
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 per cent of the national average income. Income disparities seem to have declined over the sixties, only to increase over the following three decades. The observed polarisation is strongly explained by the disparate distribution of infrastructure and to an extent by a number of macroeconomic indicators; that of, capital expenditure and fiscal deficits.
Subjects:convergence clubs
conditional convergence
distribution dynamics
capital investment
macroeconomic stability
panel data
Document Type:Working Paper
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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