Profitability and Investment: Evidence from India's Organized Manufacturing Sector

被引：15
|
作者：
Basu, Deepankar [1 ]
Das, Debarshi [2 ]
机构：
[1] Univ Massachusetts, Dept Econ, 1012 Thompson Hall 200 Hicks Ways, Amherst, MA 01003 USA
[2] Indian Inst Technol Guwahati, Dept Humanities & Social Sci, Gauhati, Assam, India
来源：
METROECONOMICA | 2017年 / 68卷 / 01期
关键词：
PANEL-DATA; PROFIT; GROWTH; TESTS; MODEL; GMM;
D O I：
10.1111/meca.12126
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using a state-industry panel data set of 55 industries for 19 major Indian states over the period 1983-84 to 2007-08, we analyze the contemporaneous and long run impacts of the rate of profit and its componentsprofit share, capacity utilization rate and capacity-capital ratioon investment using linear dynamic panel data models. Our results show that: (a) the rate of profit has both short and long run positive impacts on investment; (b) the profit share and capacity-capital ratio have mainly long run positive impacts, but the capacity utilization rate has a more complex pattern of impact on investment.
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页码：47 / 90
页数：44
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