• Dr.(Mrs.) Harish

An alarming issue concerning development economics is whether a government should endeavor to improve the human well-being of the populace or focus entirely on the country's economic upliftment. The review of the existing literature reveals a variety of points of view in this regard. In order to answer this question, the current study employs the Toda Yamomoto test with seemingly unrelated regression (SURE). It seeks to determine the “causal relation between human well-being and per capita gross real product” (a measure of a country's economic accomplishment). It employs a set of 23 variables in this context to create five sub-indices: demographic, education, quality of life, health, and women empowerment. Making use of Principal Component Analysis, these five indexes are then translated to the Social Development Index. The social development index is utilized as a measure of human well-being, and the “causal relationship between Economic Growth and Social Development” is then established.

"UNDER STRUCTURAL ADJUSTMENT PROGRAMME IN INDIA WHAT HAPPENED TO SOCIAL DEVELOPMENT AND ECONOMIC GROWTH: AN APPLICATION OF TODA YAMOMOTO TEST", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.2, Issue 10, page no.470-485, October-2015, Available :http://www.jetir.org/papers/JETIR1701A66.pdf

"UNDER STRUCTURAL ADJUSTMENT PROGRAMME IN INDIA WHAT HAPPENED TO SOCIAL DEVELOPMENT AND ECONOMIC GROWTH: AN APPLICATION OF TODA YAMOMOTO TEST", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.2, Issue 10, page no. pp470-485, October-2015, Available at : http://www.jetir.org/papers/JETIR1701A66.pdf