Browsing by Author "Bhat, Gulshan Farooq"

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    The Determinants of Economic Growth: Experience of China, Japan, South Korea and India
    (SCMS Group of Educational Institutions, 2022-07-30T00:00:00) Bhat, Gulshan Farooq; Kaur, Sandeep
    The present paper is a sincere effort to analyse the role of the various determinants of economic growth in China, Japan, South Korea, and India for the period of 1980-2016. Panel Cointegration, Panel Vector Error Correction Model, and Granger Causality have been incorporated to determine the causal relationship among the selected determinants of economic growth. There is evidence of significant long-run causality of selected variables, i.e. services value-added, gross fixed capital formation, exports, and school enrollment ratio, but industrial value-added has not shown a significant impact on GDP per capita and also has not shown the long-run causality with selected variables. Also, the school enrolment ratio, GDP per capita, and service value-added have an important role in causeand- effect relationships among selected variables. The study suggests that there is a need to raise productivity and rapid industrialisation in these economies. In addition, improvement in technology, reduction in corruption, general welfare and happiness of people, and Research and Development (R&D) are required to recognise the maximum benefits of growth and development. � 2022 SCMS Group of Educational Institutions. All rights reserved.
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    An empirical analysis of growth determinants in India and South Korea: Possible lessons for India
    (Asociacion Euro-Americana de Estudios del Desarrollo, 2017) Bhat, Gulshan Farooq; Bhatia, Sandeep Kaur; Bhat, G.F.; Bhatia, S.K.
    Since the second half of the twentieth century, most imperative experience in the rise of the global economy had been the upswing of East Asian industrializing countries including South Korea. The spectacular sociopolitical and economic revolution of South Korea in the last few decades made it a development model worth replicable. The study advances the theoretical and empirical research on the role and performances of major sectors and indicators in India and South Korea and to find out the possible lessons for India. The comparative analysis identified that India lags behind as a wide gap emerges between systematic quality, management and development expenditures of various important sectors including Education, R&D and some other correlated sectors including corruption. Korea made an impressive and enormous strides in the fields, especially Capital formation, Manufacturing, Trade mainly exports and Innovation (R&D), controlling red tape, which in turn helped them a great deal in the overall development. The empirical study makes it that Education, Trade, Manufacturing, R&D that augmented the development process in Korea and made it a replicable model, may also prove the same for India if followed sensibly.