The Rise and Fall of India's Relative Investment Price: A Tale of Policy Error and Reform
收藏ICPSR2020-01-01 更新2026-04-16 收录
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https://www.openicpsr.org/openicpsr/project/120319/version/V2/view
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资源简介：
India's relative price of investment rose 44% from 1981 to 1991 and fell 26% from 1991 to 2006. We build a simple DGE model calibrated to Indian data in order to explore the impact of capital import substitution policies and their reform post-1991, in accounting for this rise and fall. Our model delivers a 23% rise before reform and a 31% fall thereafter. GDP per effective labor was 3% lower in 1991 compared to 1981 due to import restrictions on capital goods. Their removal and a 71 percentage point reduction in tariff rates raised GDP per effective labor permanently by 20%.
提供机构：
McMaster University
创建时间：
2020-01-01
