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The Service Sector Revolution in India: A Quantitative Analysis

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  • Rubina Verma

Abstract

Following the economic liberalization in India, the service sector has gained prominence in the economy as it accounts for the largest share of GDP and, also that the share of this sector in GDP has been growing very rapidly. Empirical data reveal two significant trends in the service sector following liberalization in 1991: growth in service sector productivity and growth in services' trade. The objective of this paper is to build a simple three sector quantitative model which can capture the increase in the share of service sector in GDP after liberalization.

Suggested Citation

  • Rubina Verma, 2008. "The Service Sector Revolution in India: A Quantitative Analysis," WIDER Working Paper Series RP2008-72, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:rp2008-72
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    File URL: https://www.wider.unu.edu/sites/default/files/rp2008-72.pdf
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    References listed on IDEAS

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    1. Dekle, Robert & Vandenbroucke, Guillaume, 2012. "A quantitative analysis of China's structural transformation," Journal of Economic Dynamics and Control, Elsevier, vol. 36(1), pages 119-135.
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    Cited by:

    1. Rupa Chanda, 2011. "Impact of Services Trade Liberalization on Employment and People Movement in South Asia," Trade Working Papers 23197, East Asian Bureau of Economic Research.
    2. Mudit Kapoor & Shamika Ravi, 2017. "Elasticity of Intertemporal Substitution in Consumption in the Presence of Inertia: Empirical Evidence from a Natural Experiment," Management Science, INFORMS, vol. 63(12), pages 4188-4200, December.
    3. Ghate, Chetan & Pandey, Radhika & Patnaik, Ila, 2013. "Has India emerged? Business cycle stylized facts from a transitioning economy," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 157-172.
    4. Bhattacharya, Rudrani & Patnaik, Ila & Pundit, Madhavi, 2013. "Emerging economy business cycles: Financial integration and terms of trade shocks," Working Papers 13/120, National Institute of Public Finance and Policy.
    5. Saif asif Khan & Sajawal Khan, 2011. "Optimal Taxation, Inflation and the Formal and Informal Sectors," SBP Working Paper Series 40, State Bank of Pakistan, Research Department.
    6. Nagesh Kumar, 2013. "Trade, Capital Flows and the Balance of Payments," Development Papers 1303, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) South and South-West Asia Office.

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    More about this item

    Keywords

    Economic development; International trade; Productivity; Service industries;
    All these keywords.

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