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PRODID:-//Indira Gandhi Institute of Development Research - ECPv4.1.2//NONSGML v1.0//EN
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X-WR-CALNAME:Indira Gandhi Institute of Development Research
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X-WR-CALDESC:Events for Indira Gandhi Institute of Development Research
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DTSTART;TZID=Asia/Kolkata:20170614T160000
DTEND;TZID=Asia/Kolkata:20170614T170000
DTSTAMP:20260513T204356
CREATED:20170606T052427
LAST-MODIFIED:20170606T052447
UID:4518-1497456000-1497459600@www.igidr.ac.in
SUMMARY:Seminar: ”Reviving Private Investment in India: Determinants and Policy Levers ” by Dr Ajay Chhibber (Visiting Distinguished Professor at the National Institute for Public Finance and Policy and Visiting Scholar at George Washington University)
DESCRIPTION:Dr Ajay Chhibber (Visiting Distinguished Professor at the National Institute for Public Finance and Policy and Visiting Scholar at George Washington University) is presenting a seminar on Wednesday\,14th June 2017 in Seminar Hall 1 at 4:00 p.m.\n\nTitle: "Reviving Private Investment in India: Determinants and Policy Levers"\n\nAbstract\n\nPrivate investment has slumped in India and its revival is vital for accelerating India’s growth rate on a sustained basis. This paper analyzes the determinants of aggregate private investment and its components corporate and non-corporate private investment for the period 1980-81 to 2013-14 using the old GDP series as the new series is unavailable.\n\nThis paper finds that the key determinants of private investment are the size of the public sector capital stock\, the real effective exchange rate\, the   output gap and the availability of credit to the private sector. So\, higher public investment would crowd-in more private investment. When we break it down further private corporate investment is significantly explained by the real exchange rate and the availability of credit to the private sector whereas for non-corporate investment public capital stock is the most significant variable- as it crowds in private investment. Real interest rate has no significant effects on investment.\n\nSimulations show that if India increases public investment by 5% of GDP\, depreciates the real exchange rate by 10-15% and fixes the bad loan problems in the banking sector so that credit growth to the private sector is restored\, India can increase its GDP growth rate by at least 2% points on a long run sustained basis and achieve 8% plus GDP growth.  
URL:http://www.igidr.ac.in/seminars/seminar-reviving-private-investment-india-determinants-policy-levers-dr-ajay-chhibber-visiting-distinguished-professor-national-institute-public-finance/
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