Impact of Macroeconomic Determinants on Economic Growth in India: An Empirical Assessment
Management Journal for Advanced Research || Volume-3 Issue-4 || August 2023 || PP. 16-21
6 Pages Posted: 19 Sep 2023
Prasenjit Makur
Calcutta Girls' College
Date Written: August 18, 2023
The impact of macroeconomic determinants on Indian economic growth measured by GVA is the foundation of this study. There are some factors that affect foreign direct investments. It consists of the country's political stability, trade openness, inflation rate, economic stability, investment policies, rules and regulations imposed on exchange rates, and foreign reserves. Additionally, foreign direct investments both increase trade and provide financial aid. Foreign direct investments have helped the Indian economy's balance of payment issues. This paper's main goal is to examine how macroeconomic factors affect the expansion of the Indian economy. FDI Inflows (FDI), Consumer Price Index (Inflation Rate), Foreign Exchange Rate with US$, and Gross Value Added (GVA) are used as the study's variables. The influence of the study’s variable on the Indian economy is examined using simple regression and Pearson's correlation approaches. The study is based on secondary data gathered from 2005 to 2020 via the World Bank website and RBI DBIE database. According to the empirical findings, there is a strong correlation between GVA and Exchange Rate with US$ and CPI, whereas a moderate correlation between FDI and GVA exists which is important for the expansion of the Indian economy.
Keywords: investment, growth, inflation, development, exchange rate, regression
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Prasenjit Makur (Contact Author)
Calcutta girls' college ( email ).
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Technological Upgrading and Educational Composition of the Workforce
- Published: 25 September 2024
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- Dev Nathan 1 , 2 ,
- S. Rahul ORCID: orcid.org/0000-0002-9638-6248 3 ,
- Joonkoo Lee 4 ,
- Shengjun Zhu 5 ,
- William Milberg 6 &
- Lauren Johnston 7
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In the global production system, there is a division of labour, based on a division of knowledge between lead (headquarter) firms and contract suppliers. While lead firms have, so far, largely been located in the Global North, some countries of the Global South have advanced along to progress from supplier to headquarter firms. This paper studies the manner in which the skill requirement or educational composition of the workforce changes in this process of technological advancement. The countries studied are China, India, and South Korea with the United States of America (USA) taken as the comparator country. The paper starts with the overall trajectory of technological upgrading in these countries. It then analyses the ways in which firm-level research & development (R&D), taken as the indicator and driver of firms’ technology development strategies, is related to changes in productivity and the educational composition of the workforce. The paper shows that there is a broad positive correlation between the three variables, R&D investment, labour productivity and educational composition of the workforce. It points to the need to advance this analysis to look at other workforce indicators, such as the gender composition, wages, the quality of employment and the nature of supervision. At a methodological level, the paper argues that it is necessary to look at the role of a firm within a global value chain (GVC) to understand the composition of its workforce.
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Nathan, D., Rahul, S., Lee, J. et al. Technological Upgrading and Educational Composition of the Workforce. Ind. J. Labour Econ. (2024). https://doi.org/10.1007/s41027-024-00521-5
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Published : 25 September 2024
DOI : https://doi.org/10.1007/s41027-024-00521-5
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