Exporter’s Performance on the Financial Growth of India in the Reform Era
Keywords:
Exports, Economic Growth, G.D.P, Inflation, Exporter’s performanceAbstract
The current study is to explore the connections between the evolution of economic growth, international commerce, and India's financial development. Real GDP, which has taken the position of economic growth, export and import services, international trade, gross capital creation, and exchange rate as independent variables, has been the main focus of the study. It is frequently discovered that more frequent traders have superior advancement rates and positively impact the expansion of the financial sector and the economy. The study will also look at whether trade growth, financial development, and other macroeconomic variables in India from 2000 to 2018 have a consistent relationship with one another. To determine if financial development, economic growth, and trade factors remain related over a long period of time, the study used the Johansen co-integration technique, KPSS, ADF, and PP. These methods were also used to look at the long-term connections between specific variables. The Granger causality test can be used to determine the direction of causation between variables. The study shows that there is a long-term association between financial development, economic growth, and international commerce, and all of the variables have been demonstrated to be non-stationary. The study's findings demonstrate how trade, financial development, and economic development are interdependent; nevertheless, even while macroeconomic policy remains stable, unfavourable macroeconomic factors, like rising inflation, may obstruct economic growth.
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