When does growth trickle down to the poor? The Indian case |
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| Authors: | Basu, Santonu Mallick, Sushanta |
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| Affiliation: | * Queen Mary, University of London/University of Cambridge and Queen Mary, University of London, respectively. An earlier version of this paper was presented at the Arthur Lewis Conference, University of Manchester and at the Economic Growth Conference, University of Cambridge |
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| Abstract: | A theoretical analysis and several econometric tests have beenundertaken to examine whether the trickle down effect took placein rural India over a long time period. We found little evidenceto suggest that the trickle down effect had occurred at all;our analysis suggests that the emergence of capital-labour substitutionwas primarily responsible for preventing growth from reducingpoverty. The decline in poverty and a higher growth rate thattook place during the late 1970s and 1980s were largely a resultof government anti-poverty measures teamed with the more equitabledistribution of credit and inputs to smaller and marginal farmers. |
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| Keywords: | Trickle down effect Rural poverty Economic growth Capital formation |
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