Open Access
Subscription Access
Open Access
Subscription Access
Output Measurement of Services:Case Studies of Medical Care and Retail Trade in India
Subscribe/Renew Journal
The sectoral composition of the Indian economy has undergone a structural shift over the years. It is best exemplified in changes in the shares of GDP contributed by agriculture, industry and service sectors. From a primary agro-based economy during the early years of planning, the Indian economy has emerged as predominant in the services sector during the last couple of decades. This note has tried to shed lights on this 'service-led' growth from the angle of official data base and its estimation procedures. It has been argued that appropriate data and proper estimation procedures can explain and even alter the conclusions drawn previously, particularly in the case of phenomenal growth of services sector in the few decades.
Subscription
Login to verify subscription
User
Font Size
Information
- Fuchs, V.R. (1968), The Service Economy, National Bureau of Economic Research, Columbia University Press, New York, USA.
- Grilliches, Z. (Ed.) (1992), Output Measurement in the Services Sectors, Studies in Income and Wealth, No. 56, (Chicago: University of Chicago Press and National Bureau of Economic Research).
- Kochhar, et. al. (2006), India’s Pattern of Development: What happened? What Follows? Journal of Monetary Economics, 53(5): 982, July.
- Nagaraj, R. (2009), Is Services Sector Output Overestimated? An Inquiry, Economic and Political Weekly, 44 (05): 40-45, January.
- Schettkat, R. and L. Yocarini (2006), The Shift to Services Employment: A Review of the Literature, Structural Change and Economic Dynamics, 7(2): June.
- Triplett, J.E. and B.P. Bosworth (2001), Productivity in the Services Sector, in R.M. Stern (Ed.), Services in the International Economy, Ann Arbor: University of Michigan Press.
Abstract Views: 549
PDF Views: 0