The Case of India 1 1 9 



estimate is based on the estimated productivity effect, which is of 

 low statistical quality. '^ Thus the lADP program probably had a 

 payoff of approximately the same order of magnitude as other 

 development efforts, with the glaring exception of investment in 

 research. 



15. This supposes a iwo-year average lag belween lADP expenditures and llie 

 realization of benefits. 



