The productivity-wage and productivity-employment nexus: a panel data analysis of Indian manufacturing |
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| Authors: | Mita Bhattacharya Paresh Kumar Narayan Stephan Popp Badri Narayan Rath |
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| Institution: | (1) Department of Economics, University of Southern California, Los Angeles, USA;(2) Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China |
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| Abstract: | This article investigates the long-run relationship between labour productivity and employment, and between labour productivity
and real wages in the case of the Indian manufacturing sector. The panel data set consists of 17 two-digit manufacturing industries
for the period 1973–1974 to 1999–2001. We find that productivity-wages and productivity-employment are panel cointegrated
for all industries. We find that both employment and real wages exert a positive effect on labour productivity. We argue that
flexible labour market has a significant influence on manufacturing productivity, employment and real wages in the case of
Indian manufacturing. |
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