کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5083803 1477822 2011 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The dynamics of market structure and firm-level adjustment to India's pro-market economic liberalizing reforms, 1988-2006: A Time Varying Panel Smooth Transition Regression (TV-PSTR) approach
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
The dynamics of market structure and firm-level adjustment to India's pro-market economic liberalizing reforms, 1988-2006: A Time Varying Panel Smooth Transition Regression (TV-PSTR) approach
چکیده انگلیسی
This paper for the first time employs the Time Varying Panel Smooth Transition Regression (TV-PSTR) approach to model the dynamic adjustments of firms and the evolution of industrial structure in the bigger setting of decades against the backdrop of India's dramatic liberalizing reform starting from 1991. Using Indian manufacturing firm data, it finds that the transition of market structure and productivity after liberalization did follow a smooth transition process. Instead of the previously assumed instantaneous 'big-bang' shift just after reforms, it actually took years for the Indian manufacturing industries start to react to the reforms, and the transitional impact of reforms took approximately four to eight years to complete. There is strong evidence of increased competition after the transition, with shrinked returns to scale (RTS) in most industries except for leather and chemical industries. The results on total factor productivity (TFP) are mixed: most import-competing industries, which suffer most from the shrinking of market size experienced no change or decreasing TFP growth; whereas the export-oriented industry, as the industry which benefits most from economy of scale, enjoyed a huge TFP growth following the reforms.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 20, Issue 4, October 2011, Pages 506-519
نویسندگان
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