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Shock persistence in a dual economy model of India

Lookup NU author(s): Dr Philip Dawson

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Abstract

This article examines shock persistence in agricultural and industrial output in India. Drawing on the dual economy literature, the linkages between the sectors through the terms of trade are emphasised. However, different dual economy models make differing assumptions regarding the categorisation of variables as being either endogenous or exogenous and this distinction is crucial in explaining the pattern of shock persistence. Using annual data for 1955-95, our results show that shocks to both output series are permanent while those to the terms of trade are transient.

Publication metadata

Author(s): Tiffin R, Dawson PJ

Publication type: Article

Publication status: Published

Journal: Journal of Development Studies

Year: 2003

Volume: 40

Issue: 1

Pages: 32-47

Print publication date: 01/10/2003

ISSN (print): 0022-0388

ISSN (electronic): 1743-9140

Publisher: Routledge

URL: http://dx.doi.org/10.1080/00220380412331293657

DOI: 10.1080/00220380412331293657

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