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MSME Promotion, Inequality and Decentralized Wealth Creation: A Strategic Policy Perspective

Author

Listed:
  • Saransh Royal

    (University School of Management, Kurukshetra University, Haryana, India)

  • Kamaljit Singh

    (��University School of Business, Chandigarh University, Mohali, India)

  • Ramesh Chander

    (University School of Management, Kurukshetra University, Haryana, India)

Abstract

The study aims to ascertain the impact of micro, small and medium enterprises (MSMEs) growth on wealth creation and its distribution in India concerning macroeconomic variables such as GDP (Gross Domestic Product) per capita, unemployment, Foreign direct investment (FDI), human development index (HDI) and the urban population (URP). The research has examined the underlying short-term association using ECM, FMOLS, DOLS and CCR to estimate the long-run association between the identified variables. It documents a positive relationship between the share of the B50 populace and the FDI. On the other hand, per capita GDP, in the long run, had a negative association with MSME share, URP and HDI. Similarly, for the top 10 percentile (T10) share, there was a positive relationship between MSME share and URP. Therefore, the results document a decentralized wealth creation for an MSME-focused development strategy in the short run to address skewed wealth creation in emerging societies.

Suggested Citation

  • Saransh Royal & Kamaljit Singh & Ramesh Chander, 2023. "MSME Promotion, Inequality and Decentralized Wealth Creation: A Strategic Policy Perspective," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 14(03), pages 1-22, October.
    • Handle: RePEc:wsi:jicepx:v:14:y:2023:i:03:n:s1793993323500163
    DOI: 10.1142/S1793993323500163
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