Main > IndiaINDIA'S ECONOMIC PROSPECTS A Macroeconomic and Econometric Analysis by Thampy Mammen (St. Norbert College, USA)
This book provides a macroeconomic analysis of the Indian economy. It is a long-run study that spans the period from
1950–51 to 1992–93, encompassing the various turning points in India's economic policy and development strategies. The
macroeconometric model used in the book integrates the monetary and real sectors of the economy. In order to provide
theoretical underpinnings for the model, the book traces the development of macroeconomic theory including Keynesian,
structuralist, and supply-side economics. The model explains the public sector's current and capital expenditures, rather than
treating them as exogenous variables. A sub-recursive system of prices is formulated in terms of unit cost based on the flow of
factor income generated in the process of production, monetary variable, and agriculture supply factor
INDIA'S ECONOMIC PROSPECTS