UGC Approved Journal no 63975(19)

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Published in:

Volume 9 Issue 7
July-2022
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2207632


Registration ID:
500487

Page Number

g226-g236

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Title

CAUSAL RELATIONSHIP BETWEEN ECONOMIC GROWTH AND SOCIO-ECONOMIC & ENVIRONMENTAL VARIABLES IN INDIA: A TIME SERIES ANALYSIS

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Abstract

This study makes a modest attempt to examine the causal relationships between economic growth and socio-economic and environmental factors for India over the period 1991-2018. The data is collected from World Development Indicators maintained by the World Bank. The study uses correlation analysis, logarithmic regression and VAR model along with Granger Causality test, Impulse response function and Variance decomposition functions to determine the inter-dependencies among the 5 variables viz GDP, unemployment rate, CO2 emissions, school enrollment ratio and life expectancy at birth. There have been numerous studies on GDP and its possible determinants. However, there are very few studies for India individually which includes varied kinds of variables and the inter-dependencies among them. The reason for the selection of these variables is that previous literature suggests possible causal relationships among the variables considered. The study attempts to answer some the following questions: Which indicators have a significant impact on GDP? Is the relationship causal? Can we forecast GDP based on these relationships? Is there an impact of social indicators on GDP? Does Environmental degradation impact GDP? If yes, then how? Can these relationships help in policy making? This study can be useful for other researchers and analysts attempting to discover relationships among Economic Growth, Unemployment rate, CO2 emissions, school enrollment rate and life expectancy at birth. This study can also be used for policy making by the government to determine if increased expenditures on health or education will increase the nation’s growth. The study revealed a strong correlation among the variables. Most variables exhibit unidirectional relationship. Only school enrollment and life expectancy displayed a bi-directional causal relationship over the period. In the long run, there is an impact among the variables of the model.

Key Words

Causal, economic growth, correlation, regression, VAR, GDP, unemployment, CO2 emissions, school enrollment, life expectancy at birth.

Cite This Article

" CAUSAL RELATIONSHIP BETWEEN ECONOMIC GROWTH AND SOCIO-ECONOMIC & ENVIRONMENTAL VARIABLES IN INDIA: A TIME SERIES ANALYSIS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 7, page no.g226-g236, July-2022, Available :http://www.jetir.org/papers/JETIR2207632.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

" CAUSAL RELATIONSHIP BETWEEN ECONOMIC GROWTH AND SOCIO-ECONOMIC & ENVIRONMENTAL VARIABLES IN INDIA: A TIME SERIES ANALYSIS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 7, page no. ppg226-g236, July-2022, Available at : http://www.jetir.org/papers/JETIR2207632.pdf

Publication Details

Published Paper ID: JETIR2207632
Registration ID: 500487
Published In: Volume 9 | Issue 7 | Year July-2022
DOI (Digital Object Identifier):
Page No: g226-g236
Country: Dehradun, Uttarakhand, India .
Area: Other
ISSN Number: 2349-5162
Publisher: IJ Publication


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