Saving, Investment, and Growth in India
本书基于1955至1996年印度数据，分析储蓄、投资与增长的关系，运用内生增长理论和亨德里方法检验斯科特模型，避免虚假回归问题。
This short book is a well‐documented and interesting account of the trends and determinants of savings, investment and growth in India between 1955 and 1996. Given the critical role that savings and investment play in the process of economic growth, the authors closely examine the saving‐investment nexus and the interaction between investment and growth in the context of the new endogenous growth theory [EGT]. In the light of the emergence of the ‘new’ view of growth, it is now acknowledged that economic policies [e.g. public, financial, trade] matter in influencing long run economic growth. And thanks to the EGT, economic growth is no longer regarded as the ‘manna’ from heaven which could happen on the crest of an accident like technical progress. In this book, the authors have selected the Scott model as the most appropriate vehicle to test the validity of the EGT in economic development of India for the past four decades. Since the authors have used the long‐run time‐series data, they have rightly chosen the ‘Hendry method’, i.e. the ‘general to specific’ methodology [GSM] as the cross‐country regression analysis is based on the restrictive and dubious assumption of ‘homogeneity’ in the observed relationships across countries. The GSM allow the researchers to avoid the problems of spurious regressions which are frequently encountered in time‐series analysis.