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A Time Series Analysis Of The Role Of Imports In India's Phenomenal Economic Growth, Peter J. Saunders
A Time Series Analysis Of The Role Of Imports In India's Phenomenal Economic Growth, Peter J. Saunders
All Faculty Scholarship for the College of Business
This paper investigates the role of imports in India's impressive economic growth. Annual data ranging from 1970 to 2005 are used to investigate the impact of imports on economic growth that is measured by the real GDP. Johansen's ( 1988) cointegration tests indicate that these two variables are cointegrated. Therefore, a long run relationship between imports and the real GDP exists. A vector error correction (VEC) testing framework is used in a further data analysis. VEC tests indicate that imports have impacted positively India's economic growth in the short run. Therefore, imports may have played an important role in India's …