(1)

(2)

(3)

(4)

(5)

(6)

Dependent variable: ∆log(TFP)

TFP in input producing sector

0.76*** (0.15)

0.68*** (0.14)

0.80** (0.33)

1.22*** (0.29)

1.20*** (0.29)

1.42*** (0.31)

Exports (INR)

0.058*** (0.0059)

0.064*** (0.0047)

0.099*** (0.014)

0.063*** (0.0091)

0.063*** (0.0089)

0.066*** (0.0094)

Equipment-structure ratio

−0.12*** (0.032)

−0.16*** (0.031)

∆(equipment-structure ratio)

−1.31** (0.51)

∆(Equipment-structure ratio)-1 year lag

0.055 (0.22)

0.043 (0.22)

−0.16 (0.23)

Adjustment coefficient

−0.25* (0.14)

−0.33* (0.18)

−0.20** (0.085)

−0.23** (0.100)

−0.23** (0.10)

−0.21** (0.094)

Constant

−0.17 (0.11)

−0.25* (0.15)

−0.25** (0.10)

−0.20** (0.10)

−0.20* (0.10)

−0.20* (0.10)

N

126

120

120

120

120

120

Log likelihood

272.66

267.06

267.95

262.45

263.54

273.09

Sample period

1996-2018