*Assistant Professor, Department of Management Studies, JSS Academy of Technical Education, C-20/1, Sector-62, Noida-201301, Uttarpradesh (India)
**Assistant Professor, Galgotia's Institute of Management & Technology, Plot No: 1, Knowledge Park. II, Greater Noida-201306, Uttarpradesh (India)
Online published on 30 September, 2013.
This study examines the empirical association between public issue and economic development (GDP) during the period 1989–2009. With help of log-lin regression model, we found that public issue had a positive significant impact on India's economic development during this period, which survives almost all diagnostic tests of Classical Linear Regression Model. But, the relationship between public issue and economic development during this period, though had drastically undergone a structural change after 1997 South-east Asian Crisis, evidenced by residuals of recursive least squares, CUSUM test, CUSUMSQ test and Chow's Predictive Failure test, but had remained stable after 2007 Subprime Crisis.
Public Issue, Economic Development, Econometric Analysis
