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The Mahalanobis Growth Model

A Macrodynamics Approach

  • Explains Mahalanobis growth model in simple and precise manner in a single go-to reference

  • Handpicks main papers surrounding the model, solves, then simulates them in Matlab/Octave in a single go-to source

  • Provides new Matlab/Octave codes that users can use to simulate various models

  • 162 Accesses

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  • ISBN: 978-981-16-8980-2
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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xix
  2. Introduction

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 1-17
  3. The Mahalanobis Two-Sector Model

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 19-49
  4. The Stochastic Two-Sector Mahalanobis Model

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 51-68
  5. Critiques of the Two-Sector Mahalanobis Model

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 69-108
  6. Open Economy Extensions of the Mahalanobis Model

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 109-150
  7. The Mahalanobis Four-Sector Model

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 151-176
  8. Optimal Savings Plough-Back and the Wage-Goods Model

    • Chetan Ghate, Pawan Gopalakrishnan, Srishti Grover
    Pages 177-199
  9. Back Matter

    Pages 201-205

About this book

This book provides an analytical and computational approach to solving and simulating the Mahalanobis model and the papers surrounding it. The book comes up, perhaps for the first time, with a holistic examination of an important growth model that emerged out of India in the 1950s. It contains detailed derivations of the Mahalanobis model and the several critiques and extensions surrounding it with an organized synthesis of the main results. Computationally, the book simulates the model and its many variants, thus making it accessible to a wider audience. Advanced undergraduates and beginning graduate students in the fields of Economics, Mathematics, and Statistics will gain immensely from understanding both the mathematical aspects as well as the computational aspects of the Mahalanobis model. In the absence of a single 'go-to' source on all aspects of the model -- analytical and computational -- this book is a definitive volume on the Mahalanobis model that has all the derivations of all the papers surrounding the model, its dissents and critiques, and extensions as in the wage goods model suggested by Vakil and Brahmananda. 

Keywords

  • The Mahalanobis Model
  • The 2nd Five Year Plan
  • Multi-sector Growth Models
  • Indian Economic Development
  • Planning and Development

Authors and Affiliations

  • Economics and Planning Unit, Indian Statistical Institute, New Delhi, India

    Chetan Ghate

  • Department of Economic and Policy Research, Reserve Bank of India, Mumbai, India

    Pawan Gopalakrishnan

  • Former MSQE Student (Batch of 2021), Indian Statistical Institute, New Delhi, India

    Srishti Grover

About the authors

Chetan Ghate is an Indian macroeconomist. He is a professor of Economics at the Indian Statistical Institute – Delhi, where he has been teaching since 2000, and since February 2022, he has been serving as Director, Institute of Economic Growth (IEG), New Delhi, India. He is a winner of the 2014 Mahalanobis Memorial Gold Medal (MMM) given to the best research economist in India under the age of 45. He was a member of India’s first Monetary Policy Committee between 2016-2020. His research interests lie in macroeconomics, monetary economics, and growth and development. 

Pawan Gopalakrishnan is Manager/Research at Reserve Bank of India. He completed his doctoral studies from the Indian Statistical Institute, New Delhi. He works on macroeconomics of the Indian economy and taught for a brief time at the law school and the school of government and public policy at O.P. Jindal Global University, India, before joining the RBI. His research interests are macroeconomics, endogenous growth theory, real business cycle models, DSGE, fiscal and monetary policy.

Srishti Grover is a (former) student of (the) Master of Science in Quantitative (space) Economics course at (the) Indian Statistical Institute, New Delhi.

Bibliographic Information

Buying options

eBook USD 59.99
Price excludes VAT (USA)
  • ISBN: 978-981-16-8980-2
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book USD 79.99
Price excludes VAT (USA)