Post-Cold War and Economic Development

Abstract

War in any form and at any point in time in human existence is horrific. Among all the expectations of human race and nation, war is not one, including cold war. No doubt, cold war has always been with humanity. The author in this study set out to explore the effect of the post-cold war on the Indian economic growth and development. Due to the nature of the variables of the study, a quantitative econometric model formed the research methodology. The data scope covered the period of 39 years. The overall empirical results show that some macroeconomic variables have significant effect and positive relationship with the Indian economic development. The implication is that these factors in the long run are statistically significant and positively related to the Indian economic development. It is concluded from the study that long run relationships exist among the variables though the speed of adjustment differs.