Show simple item record

dc.contributor.advisorBala Subrahmanya, M H
dc.contributor.advisorBhattacharya, Puranjoy
dc.contributor.authorSoni, Swapnil
dc.date.accessioned2021-11-22T04:23:53Z
dc.date.available2021-11-22T04:23:53Z
dc.date.submitted2021
dc.identifier.urihttps://etd.iisc.ac.in/handle/2005/5517
dc.description.abstractIndia is one of the largest and fastest-growing economies in the world. Its growth is supported by the vibrant manufacturing sector which has strong linkages with other sectors. The manufacturing sector plays a pivotal role in a nation’s investments, trade, employment, income and exports. Given its importance, the Indian manufacturing industry is consistently promoted through policy stimuli and reforms. But historically, it exhibited no significant improvement in terms of productivity, growth and share in national output and employment. This necessitates the study of the Indian manufacturing industry at a granular level. Manufacturing industry exhibits heterogeneity, stemming from the varying compositions of factor inputs across different industries, as characterised by the industrial structure. Industrial structure influences the nature of production, productivity, output, and thereby growth of industries. Price changes, captured by inflation, also alter the industrial structure, resource allocation, and outcomes in the form of productivity, output and growth. This necessitates a due consideration for inflation while exploring industrial structure, productivity and growth. Against this backdrop, the present study explores the registered Indian manufacturing industry along with price influence on it. Specifically, we analyse: 1) industrial structure, 2) growth, 3) productivity, 4) inflation, and 5) their interrelationships, as our research objectives. To this end, we use secondary panel data on industry (input, output and employment) and inflation. The period of study is from 1981-82 to 2016-17, covering major policy developments in the Indian industry. We employ statistical methods including descriptive, predictive and time-series modelling to analyse the research objectives empirically. We find that industries exhibit a steady capital intensification that raises the demand for capital as well as energy. Given an increasing dependence on capital and energy, industries are turning more sensitive to capital and fuel prices that deter industrial growth. Fuel inflation hampers capital productivity as well, which is a major driver of industrial growth. Further, such an effect of inflation hampering growth and productivity is contingent upon the industrial structure. Based on the results, we derive certain industry-specific policy recommendation. We recommend the promotion of the capital goods industry to generate productive employment, promote capital intensification and contain capital inflation. Energy efficiency is the key to make the industries resilient to fuel inflation. To increase energy efficiency, we recommend technological upgradation and efficient capital utilization in industries. Our study’s results and recommendations can contribute to judicious policy making to achieve robust (inflation resilient) and sustainable (efficient, productive and stable) industrial growth in the country.en_US
dc.description.sponsorshipInfosys Limiteden_US
dc.language.isoen_USen_US
dc.rightsI grant Indian Institute of Science the right to archive and to make available my thesis or dissertation in whole or in part in all forms of media, now hereafter known. I retain all proprietary rights, such as patent rights. I also retain the right to use in future works (such as articles or books) all or part of this thesis or dissertationen_US
dc.subjectEconomicsen_US
dc.subjectEconometricsen_US
dc.subjectIndustrial Economicsen_US
dc.subjectIndustryen_US
dc.subjectIndustrial Structureen_US
dc.subjectProductivityen_US
dc.subjectInflationen_US
dc.subjectTime Seriesen_US
dc.subjectPanel Dataen_US
dc.subject.classificationResearch Subject Categories::SOCIAL SCIENCES::Business and economicsen_US
dc.titleIndustrial Structure, Productivity, Growth and Inflation: A Study on Interrelationships, Causality and Effectsen_US
dc.typeThesisen_US
dc.degree.namePhDen_US
dc.degree.levelDoctoralen_US
dc.degree.grantorIndian Institute of Scienceen_US
dc.degree.disciplineEngineeringen_US


Files in this item

This item appears in the following Collection(s)

Show simple item record