Is Population Growth beneficial or detrimental for Economic Growth? : An Indian Experience
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| Title | Is Population Growth beneficial or detrimental for Economic Growth? : An Indian Experience |
| Authors | |
| Abstract | The nature, direction and pattern of the causal relationship between population growth and economic growth has been the subject of very old debate among economists, demographers, policy-makers and researchers which is an open issue in development economics. This study seeks to examine the fundamental issue concerning causality between population development and economic development for India. Therefore, the paper tries to assess empirically the dynamic relationship between population growth and economic growth in India using annual data over the period 1952-53 to 2010-11. The unit root properties of the data were examined using the Augmented Dickey Fuller test (ADF) and Phillip-Perron (P-P) after which the cointegration and causality tests were conducted. The result suggests that the series of both variables of our consideration-POP and GDP, namely, population growth and economic growth are found to be integrated of order one using the ADF and Phillips-Perron tests for unit root. The cointegration test confirmed that economic growth and export are cointegrated, indicating an existence of long run equilibrium relationship in Indian context between the two as confirmed by the Johansen cointegration test results. The Granger causality test finally confirmed the presence of uni-directional causality which runs from India’s population expansion to its economic growth but not vice versa . |
| Publisher | World Science Publisher |
| Date | 2012-05-14 |
| Source | 2167-6429 |
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