Dynamics Between Sustainable Economic Development and Macro-Economic Variables: Indian Evidence
This paper examines the relationships among selected macro-economic variables such as GDP, GCI, GCNI, SSI, CDI, CPI, and HDI from 2001 to 2022. Utilizing multiple regression analysis, the ARIMA model, co-integration, and causality techniques, the research finds a decreasing trend in economic growth over the coming years. There is a long-run equilibrium relationship among the variables, along with short-run uni-directional relationships among a few variables. The forecasted values of these macroeconomic variables, projected from the base year 2018 up to 2025, indicate that while economic growth (GDP) gradually declines, the other variables show a slow but not significant increase. This suggests that adverse economic growth may hinder the remarkable performance of other variables.
Roy, S. (2024). Dynamics between sustainable economic development and macro-economic variables: Indian evidence. Journal of Applied Economic Sciences, Volume XIX, Summer, 2(84), 179 – 199. https://doi.org/10.57017/jaes.v19.2(84).06
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