Global Journal of Human Social Science, E: Economics, Volume 22 Issue 2

© 2022. Dr. Debesh Bhowmik. This research/review article is distributed under the terms of the Attribution-NonCommercial- NoDerivatives 4.0 International (CC BY-NC-ND 4.0). You must give appropriate credit to authors and reference this article if parts of the article are reproduced in any manner. Applicable licensing terms are at https://creativecommons.org/licenses/by-nc-nd/ 4.0/. Global Journal of HUMAN-SOCIAL SCIENCE: E Economics Volume 22 Issue 2 Version 1.0 Year 2022 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Online ISSN: 2249-460x & Print ISSN: 0975-587X Determinants of U.S. Grants, Credits and Assistances to India during Bretton Woods By Dr. Debesh Bhowmik Lincoln University College Abstract- In this paper, author tried to establish econometric relation of US grants, credits and assistance to India with exports and imports of USA and India and gross national income of USA during Bretton Woods regime through cointegration and vector error correction model taking data from US Bureau of Economic Research and United Nations Conference on Trade and Development. The paper observed that US grants, credits and assistance to India during 1945-1970 had been growing at the rate of 39.61% per year significantly which had three upwards structural breaks with long run upward cyclical trend. US grants, credits and assistance to India during 1945-1970 had three significant cointegrating equations with exports and imports of USA and India and national income of USA. The vector error correction model is stable, non-stationary and non-normal having problem of autocorrelation. US grants and credits to India have short run causalities from India’s imports and US gross national income. Keywords: Bretton Woods, US grants, credits and assistance, cointegration, vector error correction model, short run causality, long run causality. GJHSS-E Classification: DeterminantsofUSGrantsCreditsandAssistancestoIndiaduringBrettonWoods Strictly as per the compliance and regulations of: LCC Code: KF26.B39