Business

Cyclical dynamics and co-movement of business, credit, and investment cycles: empirical evidence from India

R. Garg and A. N. Sah

Explore how the interplay of domestic and global financial cycles influences business, credit, and investment dynamics in India. This research, conducted by Ridhima Garg and A. N. Sah, reveals crucial insights into managing India's business cycles through credit cycles.

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Playback language: English

Index

Abstract

This paper investigates the cyclical dynamics of business, credit, and investment sectors in India using annual data from 1980 to 2021. It examines the impact of domestic and global financial cycles on the business cycle using the Hodrick-Prescott filter, structural vector autoregression (SVAR), and Granger causality tests. Results reveal a divergence between domestic and global financial cycles and a long-run relationship between business, investment, and credit cycles. Credit cycles are shown to provide valuable insights for managing business cycles in India.

Publisher

Humanities and Social Sciences Communications

Published On

Apr 15, 2024

Authors

Ridhima Garg, A. N. Sah

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