Editorial

Abstract

The present issue examines relationships between growth and number of other variables such as innovation, per capita electricity consumption and air and road transport in India. The importance of innovation in economic development is well recognised in the academic literature. An article by Ajay K. Sarangi et al. on ‘How does innovation affect economic growth? Evidence from G-20 countries’ points out temporal causality between these two variables over the period 1961–2019 in majority of countries. Another article by Ranjan Aneja and Megha Mathpal on ‘Economic growth and electricity consumption in India: An econometric analysis’ notes that there exists a bidirectional causal relationship between the per capita electricity consumption and per capita gross domestic product whereas there exists unidirectional causality from employment pattern in India to per capita gross domestic product over the period 1991–2018. Prabir Kumar Ghosh and Soumyananda Dinda in an article on ‘Revisited the relationship between economic growth and transport infrastructure in India: An empirical study’ note that road and air transports have significant positive contribution to economic growth during the period 1990–2017. Moutushi Chakraborty and Biswajit Maitra in an article on ‘Import demand function in India under the liberalised trade regime’ analyse the import demand function in India during 1980–2018 and for the postreform period, 1992–2018 in terms of income, consumption, investment and export expenditure. The estimated import demand function is found to be stable and robust during the period. An article by Shilpi Tyagi and Varun Mahajan on ‘What determines profitability in the Indian automobile industry?’ finds that lagged profitability, marketing and advertising intensity, firms market power and operational efficiency have positive impact on firm level profitability whereas impact of raw material import intensity and export intensity has negative impact on firm level profitability. In an interesting study by Ishfaq Hamid and Pabitra Kumar Jena the impact of democracy on FDI flows in India is being examined over a period of 1980–2017. There is a positive and significant impact of democracy on the direct investment flows in India. An article by Poovitha Murugasamy and Vandita Mishra notes the importance of the policy of economies energy mix whereby non-renewable resources are combined with the demand for green energy and efficiency. Gourishankar S. Hiremath and Supratik Deb in the article on ‘Export performance of MSMEs in India: Is credit constraint an invisible Gorilla?’ note that access to foreign currency borrowings improved the performance of the micro, small and medium enterprises. Priyabrata Sahoo et al. in an article on ‘Inclusiveness of poverty reduction: A study of Andhra Pradesh and Telangana’ suggest that the poverty reduction scheme should focus on different sections of the people irrespective of rural and urban sectors to make the poverty reduction programme more inclusive. Vaibhav Sinha and Balaga Mohana Rao in an article on ‘An empirical investigation of global production networks in Indian manufacturing sector’ analyse the long-run and short-run relationship among the factors, which form a global supply chain and their effect on a supply chain, using yearly data from 1984–2017. A review essay is presented by Chandan Kumar Boraiaha and Rashmi Chandan on the future of clean energy minerals in India.