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Global Economic Crisis: Impact and Restructuring of the Services Sector in India

dc.contributor.authorAbhijit Das
dc.contributor.authorRashmi Banga
dc.contributor.authorDinesh Kumar
dc.date.accessioned2015-04-10T10:17:16Z
dc.date.available2015-04-10T10:17:16Z
dc.date.issued2011-09-15
dc.identifier.urihttp://hdl.handle.net/11540/3899
dc.description.abstractThe Indian economy has shown considerable resilience to the global economic crisis by maintaining one of the highest growth rates in the world. The services sector accounted for around 88% of the growth rate in real gross domestic product in 2008–09. To demystify the relatively resilient growth of the services sector in India, this study examines both the demand-side and the supply-side factors that have contributed to its growth To assess the role of external demand, income elasticity of export demand for the aggregated services and some of the disaggregated services of India were estimated. It was found that the main driver of growth in India’s services sector is growth in the domestic demand for services and not growth in the export of services. The contribution of the growth of the export of services to the growth of the overall services sector was only 22%. In order to examine the role of supply-side factors, total factor productivity growth was estimated in the services sectors that have contributed substantially to overall growth, which are the software and banking services. Using Data Envelopment Analysis at the firm level, it was found that both these sectors experienced productivity growth above 10% after 2000. High domestic demand and high productivity growth largely explain the resilience of India’s services growth.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleGlobal Economic Crisis: Impact and Restructuring of the Services Sector in India
dc.typeWorking Papers
dc.subject.expertEconomic Crisis
dc.subject.expertEconomic Efficiency
dc.subject.expertEconomic Policies
dc.subject.expertRegional Economic Development
dc.subject.expertPublic Sector Wages
dc.subject.adbCrisis
dc.subject.adbUnemployment
dc.subject.adbEconomic cooperation
dc.subject.adbGross domestic product
dc.subject.adbEmployment
dc.subject.adbWage payment systems
dc.subject.adbWages
dc.subject.naturalFinancial crisis
dc.subject.naturalLabor economics
dc.subject.naturalRegional economics
dc.subject.naturalGuaranteed annual wage
dc.subject.naturalWage differentials
dc.subject.naturalWages and labor productivity
dc.title.seriesADBI Working Paper Series
dc.title.volume311
dc.contributor.imprintAsian Development Bank
oar.themeEconomics
oar.themePublic Sector
oar.themeLabor Migration
oar.adminregionSouth Asia Region
oar.countryIndia
oar.identifierOAR-004076
oar.authorDas, Abhijit
oar.authorBanga, Rashmi
oar.authorKumar, Dinesh
oar.importtrue
oar.googlescholar.linkpresenttrue


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    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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