Econometric Model of India

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Introduction: the macro-model
the data
the outline
A theory of stagnation and growth: a macro-model in a closed economy
money in growth
growth and the foreign sector
the summary
The statistical form of the model: production functions
employment functions
investment functions
money, wages and prices
miscellaneous equations
the model as a whole
method of estimation of the parameters of the model - ordinary least squares v. simultaneous equation methods
Production and employment: agricultural production function
food-grains production function
employment function
non-agricultural production function
Money, wages and prices: the money supply and the absolute price level
money wages and prices
miscellaneous price equations
Investment and foreign trade: investment in the agricultural sector
investment in non-agricultural sector
foreign trade sector
Summary of the results: the model
the test statistics
results of simultaneous equation methods
Applications of the model - a simulation approach: a note on simulation approach
prediction within and beyond the sample
planning for a target rate of growth
analysis of the effects of variation in exogenous variables
A note on India's third five year plan
Appendix - the compilation of the data
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