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Dynamics of globalization effect in India
Author(s) -
Gupta Shikha,
Kumar Nand
Publication year - 2021
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3313
Subject(s) - globalization , pace , economics , volatility (finance) , protectionism , dynamics (music) , international economics , economic system , development economics , economic geography , market economy , geography , econometrics , geodesy , physics , acoustics
As India steps in the fourth decade of globalization, we can look at the fruits of globalization more objectively. The relationship of globalization with growth is much more complex with economies opting for protectionism. The aim of the paper is to identify the pace of globalization in the Indian economy by capturing the portion of economic growth explained by foreign factors. The factor‐induced domestic and foreign factor loadings are used in the time‐varying estimations to suggest the evidence of slowbalization in India. The models supplemented with stochastic volatility help in examining the structural changes in the economy.