Department Of Economic Studies

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Subject: search.filters.subject.Economic Growth

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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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    Tourism and economic growth in jammu kashmir
    (Central University of Punjab, 2014) Unjum, Irfana; Singh, Kulwinder
    From last few decades "Tourism" has been world's rapidly growing industry. In Jammu and Kashmir, tourism is an important industry as scope of agricultural and industrial development is limited. Present study investigates the role of tourism in the economic growth of Jammu and Kashmir during the period from 2004-05 to 2012-13. It also analyses the impact of tourism on livelihood as well as on the income and expenditure level of the stakeholders involved in this business. Besides secondary data, study is based on the primary data collected from the four tourist destinations namely, Katra, Patnitop, Gulmarg and Pahalgam of the state. Findings of the study reveal that tourism is one of the important sectors of Jammu and Kashmir. Having bi-directional relationship between tourism and economic growth, tourism contributes significantly to the GSDP of the state. The contribution of tourism in income and employment is found to be significant as the stakeholders involved in this business are earning fair income and also the employment provided by this sector is usually permanent. Moreover, average working hours in the tourism business are more for permanent employees than temporary ones, and so is the average monthly income. Income from tourism has positive and significant impact on the expenditure and investment level of the stakeholders.
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    Nexus Between Energy Consumption and Economic Growth: Empirical Evidence From India
    (Asian Journals of Advance Studies, 2017) Habib, Musavir Ul; Mishra, P. K.
    Energy consumption has assumed an indispensible importance in the modern era as it plays a significant role in national production and human development. In particular, the importance of electricity consumption in socio-economic development of a nation cannot be overemphasized. The shortages in the electricity supplies retard the economic growth as most of the economic activities can’t be undertaken altogether due to power outages. In this context, this paper examines the nexus between electricity consumption and economic growth of India for the period 1971 to 2014 by incorporating the energy as measured by electricity consumption in the Mankew-Romer-Weil empirical model of economic growth. The use of Toda-Yamamoto Granger non-causality test lends to support the conservation hypothesis that economic growth is the driver of energy consumption. Thus, the implication is that the energy conservation policy can be adopted without having adverse effects on economic growth of India.
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    Nexus between Tourism and Economic Growth: Empirical Evidence from Odisha, India,
    (Serial Publications Pvt.Ltd., 2016) Rout, Himanshu B.; Mishra, P. K.; Pradhan, B.B.
    In view of the importance of tourism as an instrument for economic growth and employment generation, this paper is an effort to examine the nexus between tourism and economic growth in Odisha during 1990-91 and 2013-14; specifically the aim is to examine the tourism-led growth hypothesis at the state level. The study provides the empirical evidence of the existence of long-run equilibrium relationship between tourism and economic growth in the State. Precisely, it provides the evidence of stable, significant and positive response of tourism to economic growth. This finding is important from policy perspective. The State government is required to priority to the promotion of tourism so as to lead a stable and inclusive growth of Odisha.
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    Education and Skills as Catalyst for Sustainable Growth in India
    (Pedagogy of Learning, 2017) Mishra, P. K.; Mishra, S.K.
    Skill development plays an important role towards achieving faster, sustainable and inclusive growth and making the country’s youth employable. Countries with higher and better levels of skills adjust more effectively to the challenges and opportunities of growth in globalized world. In a developing country like India, the recent consensus among the economists, academicians, planners and policy makers is that education and skills can be mobilized for attaining sustainable development. The primary goal is to impart quality based and skill loaded education to all. This paper is an effort to provide empirical evidence for the relationship that exists between education/skills and economic growth in India. Using statistical tools, the study provides the evidence of the existence of strong association between education/skills and economic growth. However, for sustainability of this linkage well neat plans and policies are needed. The GoI has also been giving utmost importance to it in all its recent days’ schemes and programmes meant for upward mobility of the society at large.