Financial Development and Productivity of Manufacturing Sector in India
An Econometric Analysis
Bibliographic Data
| ID | 12326464 |
|---|---|
| Authors | Manisha Manisha (0000-0002-7614-8680, Central University of Haryana, corresponding author), Ranjan Aneja (0000-0001-8445-2239, Central University of Haryana) |
| Year | 2023 |
| Volume | 16 |
| Issue | 4 |
| Pages | 613-638 |
| Publication date | 2023-07-17 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Millennial Asia (JOURNAL) |
| Journal identifiers | ISSN: 2321-7081 • E-ISSN: 0976-3996 |
| Publisher | SAGE Publishing (PUBLISHER • US) |
| DOI | 10.1177/09763996231176438 |
| OpenAlex | W4384558544 |
| Language | EN |
| References cited | 40 |
Financial system is considered an important factor to enhance the productivity growth. Financial development (FD) is closely related with economic process as it leads to higher saving and efficiency. The nexus between FD and economic growth is increasingly well established. This paper measures the effect of development in financial sector on the total factor productivity (TFP) of Indian manufacturing sector for the period of 1998–2017. This study used autoregressive distributed lag co-integration approach and Granger causality test to investigate relationship between the financial development index (FDI) and productivity. The results of the study revealed that there is long-run association between FDI and productivity growth of manufacturing sector in India. The study also investigated that the unidirectional relationship exists between FD and TFP of Indian manufacturing sector from FDI to TFP change
Distributed lag · Econometrics · Economics · Financial sector · Financial sector development · Foreign direct investment · Granger causality · Index (typography · International economics · Macroeconomics · Manufacturing sector · Monetary economics · Nexus (standard · Productivity · Total factor productivity · Economic Growth and Productivity · Engineering · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact · Finance
Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models
Some recent development in a concept of causality
Finance and Growth
The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity
Moving towards a sustainable environment
Introducing a New Broad-based Index of Financial Development
Human Capital and Growth
Forecasting Using Principal Components From a Large Number of Predictors
Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root
Null
Testing for a unit root in time series regression
Bounds testing approaches to the analysis of level relationships
Maximum Likelihood Estimation and Inference on Cointegration — With Applications to the Demand for Money
Investigating Causal Relations by Econometric Models and Cross-spectral Methods
Manufacturing Growth and Financial Development
Liberalisation and Technological Accumulation Strategy in Industries from Developing Economies
Structural Change and Economic Growth across Major States of India
Internationalization of Firms from China and India
Can Trade Liberalization Stimulate Economic Growth in Africa
Productivity and Growth in Indian Manufacturing
A Model of Economic Growth
The Myth of Asia's Miracle
| Highly cited | No |
|---|