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- Variable Description Source ln( cpy / ) Natural logarithm of real GDP per capita at market prices (Base year: 2004-2005) Reserve Bank of India ln(s) Natural logarithm of gross domestic saving as a share of nominal GDP at market prices Reserve Bank of India Gross domestic fixed investment rate Aggregate fixed investment as a share of nominal GDP at market prices Reserve Bank of India Pop Population Reserve Bank of India ln( n tg~ ) Natural logarithm of the population growth rate ( )[ ]100PoplnPopln~ 1 ×−≡ −tt n tg Dummy: D65 Equals 1 in 1965; 0 otherwise Represents the macroeconomic crisis of 1965, a severe drought and war with Pakistan. See Panagariya (2008).
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