Elasticity of Substitution & Returns to Scale in Indian Chemical Industry
Publication Type:Journal Articles
Source:The Indian Journal of Industrial Relations, Shri Ram Centre for IR and HR, Volume 47, Number 1, p.36–42 (2011)
This paper examines whether there has been a change in the elasticity of substitution and returns to scale in the Indian Chemical industry due to the reforms introduced in 1991. The results reveal that reforms have helped the chemical industry in India adapt new technology which is more capital intensive. As a result, the elasticity of substitution as well as the returns to scale has changed in the post-reforms period from those in the pre-reforms period.
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