The study explores the asymmetric effects of cereals crops, namely wheat, rice, and maize production on agricultural economic growth in India during 1960–2019. The asymmetric ARDL method is used in this study to analyze the asymmetric relationship between the independent and dependent variables. The findings reveal a link between cereal crop growth and agricultural economic growth. The NARDL findings indicate that positive maize and rice shocks have a considerable short- and long-term influence on agricultural economic growth. In contrast, the positive shock of wheat production is not significant. While the negative shocks of maize, rice and wheat production significantly impact agricultural economic growth. In a nutshell, the study reveals that agriculture growth has an asymmetric relationship with maize, wheat and rice production. The study's findings imply that policymakers should develop long- and short-term plans to boost agricultural growth and productivity in order to help farmers.
This study investigates the stability issues of real money balances considering financial development. We estimate real narrow (M1) and broad (M3) money demand in India during the post-financial reform, from 1996:Q2 to 2016:Q3. To check the short- and long-run relationships, this study uses the autoregressive distributed lag model of cointegration and other various time series techniques. After incorporating financial development into money demand, we determined short- and long-run relationships and a well-defined open-economy stable money demand specification (M1 and M3) in India. Having established money demand function, the policymaker and central bankers can use monetary aggregates as an indicator or information variable to predict output gaps and inflationary expectations under the inflation-targeting framework.
The aim of this study is to revisit the relationship between foreign direct investment (FDI) and economic growth. The motivation behind this study is that there is ambiguous evidence across countries on FDI and economic growth. However, there have been many studies conducted across countries but there is a scanty literature available on FDI and economic growth in India. The relation between FDI and economic growth is vague. Therefore, this study is an addition to all previous studies, try to posit the relationship between economic growth and FDI. Energy consumption has been taken as a control variable into consideration. The study has covered time-series data from 1990 to 2019. The ARDL bound test approach has been employed to confirm the cointegration among the variables. The bound test confirmed the existence of a long-run relationship between FDI and economic growth. The error-correction term negative sign indicates that there is a divergence between dependant and independent variables in the short-run. The empirical results state that FDI has a significant impact on economic growth
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