Econometric perspective of agricultural exports and economic growth relationship: with reference to India and China Online publication date: Tue, 13-Jun-2023
by Shabnam Kumari; Deepti Kakar
International Journal of Indian Culture and Business Management (IJICBM), Vol. 29, No. 2, 2023
Abstract: The present study is entitled to disseminate the relationship between agricultural exports and economic growth of India and China for the period of 1990 to 2020. And, the findings evince that the co-integration has been found in terms of both the country's economic growth (GDP) and other macroeconomic variables: consumer price index, gross fixed capital, labour force, and exports of fresh fruits, fresh vegetables and whole cow milk. Later on, the vector error correction model confirms the existence of long-term causality in the log series of China but not in India. The results of forecasted error variance decomposition (FEVD) and impulse response function exhibit that one fourth of the variation in GDP returns of India and China has been caused by the inflation in their respective country. The results of the present study are of immense use to agricultural exporters, government institutions, and policymakers of the Indian and Chinese economies.
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