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on Central and Western Asia |
| By: | Mitra, Arup; Murayama, Mayumi |
| Abstract: | Based on the recent census data this paper analyses the district level rural to urban migration rates (both intra-state and the inter-state) among males and females separately. Both the rates are closely associated irrespective of whether the migrants originate from the rural areas within the state or outside the state. This would suggest that women usually migrate as accompanists of the males. Though many of the relatively poor and backward states actually show large population mobility, which is primarily in search of a livelihood, the mobility of male population is also seen to be prominent in the relatively advanced states like Maharashtra and Gujarat. Rapid migration of rural females within the boundaries of the states is, however, evident across most of the regions. The social networks, which play an important role in the context of migration are prevalent among the short distance migrants and tend to lose their significance with a rise in the distance between the place of origin and destination though there are some exceptions to this phenomenon. Besides the north-south divide in the Indian context is indeed a significant phenomenon with a few exceptions of metropolitan cities. As regards the effect of factors at the place of destination, prospects for better job opportunities are a major determinant of male migration. Low castes and minority groups tend to pull migration through network effects. Among females also these effects are evident though with the inclusion of the male migration rate they become less significant. Finally the paper brings out the policy implications. |
| Keywords: | Rural-to-urban migration, Poverty, India, 2001 census, Gender, Population movement |
| JEL: | J61 R23 |
| Date: | 2008–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper137&r=cwa |
| By: | Paul Conway; Richard Herd |
| Abstract: | Competition in product markets has been found to be an important determinant of economic performance in developed and developing countries. This paper uses the OECD's indicators of product market regulation (PMR) to assess the extent to which India's regulatory environment is supportive of competition in markets for goods and services. The results indicate that although liberalisation has improved the regulatory environment to international best practices in a few areas, the overall stance of product market regulation is still relatively restrictive. The regulatory environment is also found to vary markedly across the 21 Indian states for which the PMR indicators are estimated. The paper goes on to review various aspects of product market regulation in India and suggest a number of policy initiatives that would improve the degree to which competitive market forces are able to operate. This working Paper relates to the 2007 Economic Survey of India (www.oecd.org/eco/surveys/india). <P>Améliorer la réglementation des marchés de produits en inde : comparaison internationale et situation dans les différents États <BR>On sait aujourd'hui que la concurrence sur les marchés de produits est un déterminant important de la performance économique des pays développés et en développement. Utilisant les indicateurs de réglementation des marchés de produits (RMP) mis au point par l'OCDE, la présente note examine dans quelle mesure les dispositions en vigueur en Inde permettent à la concurrence de s'exercer sur les marchés de biens et de services. Il ressort de cette analyse que, bien que l'environnement réglementaire ait été aligné sur les meilleures pratiques internationales dans quelques domaines grâce à des mesures de libéralisation, la réglementation des marchés de produits demeure relativement restrictive dans l'ensemble. Par ailleurs, la situation est très variable suivant les 21 États de la Fédération pour lesquels les indicateurs de RMP sont estimés. Après un examen de différents aspects de la réglementation des marchés de produits en Inde, un certain nombre d'initiatives sont proposées dans le but de faciliter le jeu des mécanismes concurrentiels du marché. Ce document de travail se rapporte à l'Étude économique de l'Inde 2007 (www.oecd.org/eco/etudes/inde). |
| Keywords: | product market regulation, competition, concurrence, indicators, indicateurs, réglementation des marchés de produits |
| JEL: | K2 L5 O1 |
| Date: | 2008–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:599-en&r=cwa |
| By: | Nath, Sushmit |
| Abstract: | This paper deals with the interlinkages between religious beliefs and practices and the economic growth and development of a particular country or region. In the paper I have reviewed some empirical work carried out in the recent times to explain the relationship between religion and growth. I have also tried to present Adam Smith's view on the subject and how it could be understood in the present context. The paper ends with a case study of the state of Gujarat in India, which shows the relationship between religious riots and economic growth. |
| Keywords: | Religion; Economics of Religion; Religion and Growth; Gujarat; Riots; Weber |
| JEL: | Z12 C23 C01 |
| Date: | 2007–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8181&r=cwa |
| By: | Paul Conway; Richard Herd; Thomas Chalaux |
| Abstract: | This paper uses the OECD's indicators of product market regulation to assess the extent to which the regulatory environment affects economic performance across Indian states. The degree to which product market regulation is supportive of competition is found to vary considerably across states. Furthermore, regression results indicate that these differences in regulation have a significant impact on both labour and total factor productivity. States in which the regulatory environment restricts competition have lower productivity growth in comparison to states in which regulation is more supportive of competition. Relatively liberal states are also found to attract more foreign investment and have a larger share of employment in the organised sector in comparison to states with a more restrictive regulatory environment. State governments that have enacted a relatively liberal regulatory framework have also been more successful at infrastructure provision. Ongoing reform of product market regulation is necessary to improve productivity growth further and ensure that the benefits of reform are distributed more widely across the country. This working Paper relates to the 2007 Economic Survey of India (www.oecd.org/eco/surveys/india). <P>Réglementation des marchés de produits et performances économiques dans les États de l'Union indienne <BR>Nous utilisons dans ce document les indicateurs de réglementation des marchés de produits (RMP) de l'OCDE pour évaluer les répercussions de l'environnement réglementaire sur les performances économiques des États de l'Union indienne. Nous parvenons à la conclusion que la mesure dans laquelle la réglementation des marchés de produits favorise la concurrence varie considérablement suivant les États. En outre, les résultats obtenus par analyse de régression indiquent que ces différences de réglementation ont un impact sensible tant sur la productivité de la main-d'oeuvre que sur la productivité totale des facteurs. Les États où l'environnement réglementaire restreint la concurrence enregistrent des gains de productivité plus faibles que ceux dans lesquels la réglementation est plus propice au libre jeu des forces du marché. Nous montrons également que les États relativement libéraux attirent davantage l'investissement étranger, qu'ils ont de meilleures infrastructures, et que le secteur organisé y représente une proportion plus importante de l'emploi que dans les États ayant un cadre réglementaire plus restrictif. Les États qui ont décrété un système réglementaire relativement libéral sont aussi ceux qui ont connu le plus de réussite dans l'approvisionnement en infrastructure. Les autorités doivent aller plus loin dans la réforme de la réglementation des marchés de produits pour renforcer encore la croissance de la productivité, et veiller à ce que les fruits des réformes soient plus largement distribués dans l'ensemble du pays. Ce document de travail se rapporte à l'Étude économique de l'Inde 2007 (www.oecd.org/eco/etudes/inde). |
| Keywords: | productivity convergence, institutions and growth, convergence de la productivité, institutions et croissance |
| JEL: | K2 L5 O1 O4 |
| Date: | 2008–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:600-en&r=cwa |
| By: | Neeraj Parnami, Neeraj Parnami; Bandyopadhyay, T.K. |
| Abstract: | The term ‘collaboration’ is used to depict the all forms of agreement between academic institutions, corporate, universities, and any combination of such two or more parties who share the commitment to reach a common goal by using their resources available. Collaboration in Research and development (R&D) sector has been broadly used phenomenon for many years in India. In the collaborative research, the significant factors like time & cost being reduced to large extent because of sharing of the resources by the parties. Collaborative research contributes to the technological and economical development of the country. Collaboration avoids duplication in research. But there are lots of questions, may be arising in your mind like: what is actual meaning of collaborative research? Why do industries collaborate with the academic institutions? What goes on in the collaborative research? What are the effects of collaborative research? Which type of policy do they have? and simultaneously there are lots of issues - involved in collaborative research like intellectual property rights, technology licensing, confidential agreement etc. how can all these issues be resolved before or during collaboration, so that a healthy relationship may be established for the future benefits of all the parties involved? The purpose of writing this paper is to shed the light on the solutions available of all these questions and the issues arise between the parties involved in the collaborative research program. |
| Keywords: | Collaborative research; Intellectual property; Academic institution; Issues; University; Licensing; Industry; Driving force. |
| JEL: | A12 D89 I28 K11 A11 |
| Date: | 2008–02–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8104&r=cwa |
| By: | Varkkey Biju |
| Abstract: | The paper examines the attitude of white collar unionized employees’ towards their union and management under three key themes – work related dimensions, union related dimensions and staff members’ loyalty towards union and management. The investigation is based on survey and informal interviews of white collar employees of Tata Centre, the corporate head-office of Tata Steel, India. The analysis suggests the existence of dual loyalty amongst those surveyed. For work related dimensions (e.g. job assignments, recruitment, salary determination, training, career) this aspiring segment believe that management has more influential role to play than the union. Management increasingly is curbing the power distance between unionized members and the officers to reinforce the loyalty of this white collar segment. However, staff members are still loyal towards the union, since union performs an important role of job security provider, which members’ value. The paper also captures changing role of union over its sixty-one years of existence and the areas of improvement, based on its members’ perception. |
| Date: | 2008–03–30 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:2008-03-07&r=cwa |
| By: | Marianne Bertrand; Rema Hanna; Sendhil Mullainathan |
| Abstract: | Many countries mandate affirmative action in university admissions for traditionally disadvantaged groups. Little is known about either the efficacy or costs of these programs. This paper examines affirmative action in engineering colleges in India for "lower-caste" groups. We find that it successfully targets the financially disadvantaged: the marginal upper-caste applicant comes from a more advantaged background than the marginal lower-caste applicant who displaces him. Despite much lower entrance exam scores, the marginal lower-caste entrant does benefit: we find a strong, positive economic return to admission. These findings contradict common arguments against affirmative action: that it is only relevant for richer lower-caste members, or that those who are admitted are too unprepared to benefit from the education. However, these benefits come at a cost. Our point estimates suggest that the marginal upper-caste entrant enjoys nearly twice the earnings level gain as the marginal lower-caste entrant. This finding illustrates the program's redistributive nature: it benefits the poor, but costs resources in absolute terms. One reason for this lower level gain is that a smaller fraction of lower-caste admits end up employed in engineering or advanced technical jobs. Finally, we find no evidence that the marginal upper-caste applicant who is rejected due to the policy ends up with more negative attitudes towards lower castes or towards affirmative action programs. On the other hand, there is some weak evidence that the marginal lower-caste admits become stronger supporters of affirmative action programs. |
| JEL: | I21 I38 J7 |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:13926&r=cwa |
| By: | Rao, B. Bhaskara; Tamazian, Artur; Vadlamannati, Krishna Chaitanya |
| Abstract: | Many studies have estimated the growth effects of globalization where globalization was measured with a few economic variables, ignoring its social and political dimensions. Recently Dreher (2006) has developed a comprehensive measure of globalization with several variables from the economic, political and social sectors. He showed, with the panel data methods, that globalization has positive growth effect implying that countries with higher globalization grow faster. We argue that five year average growth rates, used in many panel data studies, are inadequate proxies for the unobservable steady state growth rate (SSGR). Using the Dreher indices we extend the Solow (1956) model to derive country specific estimates of SSGRs for Singapore, Malaysia, Thailand, India and the Philippines. Our results show that countries with higher levels of globalization have higher SSGRs but the growth effects on SSGRs are smaller than in many studies. |
| Keywords: | Globalization; Solow Model; Country Specific Steady State Growth Rates |
| JEL: | O11 O10 O30 |
| Date: | 2008–03–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:7917&r=cwa |
| By: | Dass Rajanish |
| Abstract: | This paper looks at the current challenges faced by the SME’s in the Indian IT industry and formulates hypotheses on how an intermediary can create an ecosystem to ensure the sustenance and evolution of these firms. The play out in the industry is expected to such that the larger companies in the Indian IT sector will move up the value chain and as they do so they will increasingly move out of the body shopping mode that constitutes the lower end of the outsourcing spectrum. This creates an opportunity and a necessity for the emerging companies and SME’s to fill the void. |
| Date: | 2008–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:2008-03-05&r=cwa |
| By: | Beena, S |
| Abstract: | This paper tries to address the extent, nature and impact of the recent surge in consolidation strategies especially in the form of mergers and acquisitions followed by the firms in the Indian pharmaceutical industry. The study found that many of the firms are implementing these strategies in the new context of globalisation mainly to overcome the acute competition arising out of the pro-market reforms and to strengthen their market portfolio. The study reaches the conclusion that the consolidation strategies followed by the firms enabled them to cut down the wasteful expenses to a greater extent and which resulted in better performance of the merging firms compared to the non-merging firms in this industry. |
| Keywords: | mergers; acquisitions; consolidation; pharmaceutical industry; performance |
| JEL: | L6 G34 L80 |
| Date: | 2006–06–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8144&r=cwa |
| By: | Jörg Peters; Sascha Thielmann |
| Abstract: | Interest in biofuels is growing worldwide as concerns about the security of energy supply and climate change are moving into the focus of policy makers. With the exception of bioethanol from Brazil, however, production costs of biofuels are typically much higher than those of fossil fuels.As a result,promotion measures such as tax exemptions or blending quotas are indispensable for ascertaining substantial biofuel demand.With particular focus on developing countries, this paper discusses the economic justification of biofuel promotion instruments and investigates their implications. Based on data from India and Tanzania, we find that substantial biofuel usage induces significant financial costs. Furthermore, acreage availability is a binding natural limitation that could also lead to conflicts with food production.Yet, if carefully implemented under the appropriate conditions, biofuel programs might present opportunities for certain developing countries. |
| Keywords: | Renewable energy, environmental policy, government policy, economic development |
| JEL: | O38 Q42 Q56 |
| Date: | 2008–01 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0038&r=cwa |
| By: | Ozturk, Orgul |
| Abstract: | This paper structurally models and estimates the employment effects of minimum wages in inflexible labor markets with fixed employment costs. When there are fixed costs associated with employment, minimum wage regulation not only results in a reduction in employment among low productivity workers but also shifts the distribution of hours for the available jobs in the market, resulting in scarcity of part-time jobs. Thus, for sufficiently high employment costs, a minimum wage makes it less likely for "marginal" workers to enter and stay in the labor market and has important employment effects. I estimate the model using survey data from Turkey. I find significant reduction in employment due to the loss of part time jobs caused by the national minimum wage policy in this highly inflexible labor market. |
| JEL: | E2 J3 J2 |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8016&r=cwa |
| By: | Lahiri, Soumitra |
| Abstract: | Starting from February 2007 world market is facing what we call enantiodromia. The indices are correcting. It is not known whether this is the final correction but there is no doubt that the bubble has burst and air out of it is gushing out slowly (fast on an extended time frame). The biggest question faced by the world now is whether the bursting of the bubble will bring in a deflationary environment as seeds of deflation are seen already germinating very much within the core of rampant inflation envisaged everywhere. ‘Ke sera sera’ whatever will be, will be, but is it not important to investigate as to how this economic menace could happen unnoticed by all? Was there any game plan conceived by a few nations to make best use of the last bit of the Grand Supercycle that began around 1789? Is it not important to rescan flaws remaining within the very system of capital flow/accumulation and control? The science of war, too, has undergone a sea of change. It is no more a concept of battle of arms restricted to a specific war field. With the advent of globalization the boundaries between countries have diluted. The new warfare recognizes no geographical boundaries. It is clash of finance versus finance with ultimate objective remaining the same: worldwide destruction and impoverishment of the rest of the world. Terrorist activities too come within the ambit of this new framework of warfare that is nothing but deployment of combinations. This is return of World War again. Whether we accept or not, truth remains, World War III is going on, possibly since the year 1982. Having notices the cancer growing underneath the beautiful skin of economic boom one and a half year back, we walked up to several publishers and a renowned university in India to help us send across the message to the millions across the world. Context of the book trashing the economic situation then, made all skeptical to go ahead and publish the same. This prompted me to put this book up in the air as an e-book in an effort to bring this into the eye of the millions that surf the net everyday. Which too did not fair well, and before I could do anything to bring this subject to the eyes of the common man, the debacle occurred. Had it been published at the right time, thousands, if not millions that lost heavily in the economic crash, may have had a way to save something in the landslide. However, as the book sites, there is a lot remaining to happen. Furthermore, the same can be used to avoid similar instances in future. |
| Keywords: | World war; economic world war; technical analysis; world economy; market bubble; market mania; terrorism; market melt down; Elliot Waves |
| JEL: | D53 E58 A12 F02 E44 B00 A14 |
| Date: | 2007–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8183&r=cwa |
| By: | Homayara Latifa Ahmed, Md. Jahangir Alam, Saeed Alamgir Jafar, Sawlat Hilmi Zaman (Institute of Business Administration, Dhaka University; Institute of Business Administration, Dhaka University; American International University Bangladesh; Institute of Business Administration, Dhaka University) |
| Abstract: | Corporate governance - a concept referring to the ideal mode of ensuring firm's accountability to its stakeholders, has ascended to its current level of importance owing to corporate level scandals in the large economies of the world; experience gained from which has brought some positive changes in the less developed economies - changes that are proactive and are aimed at enhancing corporate responsibility and performance. The objective of this study has been to review this concept as is being practised, the problems being faced, the schools of thought, its implication on firm valuation and performance and lastly, to see its relevance in the context of Bangladesh, where the listed firms are mostly owned and managed by family members. Suggestions to improve corporate governance and accountability, also in line with SEC guidelines, is to have an active board with well proportioned executive vs non-executive members, along with representatives from all groups of shareholders/stakeholders; separation of the role of CEO and the chairperson; creation of board committees; changing audit firms periodically etc, to name a few. |
| Date: | 2008–03 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:44&r=cwa |
| By: | Hasan, Zubair |
| Abstract: | Abstract. This paper deals with a still unresolved issue - credit creation and control- in an interest free banking system. The available literature on the subject is scanty, controversial and inconclusive. The paper holds that credit creation per se is not un-Islamic; the essential point is how credit is generated and used. It argues that credit creation cannot be banished; it is an imperative for frictionless adjustment of money supply to unavoidable fluctuations in its demand in modern economies. It seeks to correct the misunderstanding in the literature that banks create credit ex nihilo.Demand for money apart, fiscal policies and foreign exchange transaction erode the credit controlling power of the central banks. The paper blames major difficulties including those of credit creation and control on the evolution of Islamic banking on the same pattern as its mainstream counterpart and suggests some structural modifications. Finally, it finds the conventional weapons of credit control inefficacious for use in an interest free banking system and suggests the inclusion of a ratio of cash to bank advances among them. The paper has some important technical and policy implications. |
| Keywords: | Credit creation;demand for money;Base money; Credit control; Central bank |
| JEL: | E0 E51 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8130&r=cwa |
| By: | Hasan, Zubair |
| Abstract: | This work examines the theory of profit in mainstream microeconomics from Islamic perspective. It does not deal with various profit theories in their historical order. Instead, it adopts an issue-wise approach and discusses questions such as what is profit, what are its sources of emergence,what is the relationship between profit and other factor rewards - interest rent and wages - with reference to distributive justice |
| Keywords: | Islam; risk; uncertainty; innovations; wages; interest; rent;entrepreneur; competition |
| JEL: | D33 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8129&r=cwa |
| By: | Nevine Mokhtar Eid (Faculty of Management Technology, The German University in Cairo) |
| Abstract: | In the Markowitz (1952) mean-variance model as well as the Capital Asset Pricing Model of Sharpe (1964) and Lintner (1965) agents make their investment decisions based solely on the expected return and variance. On the other hand, human capital theory does not consider uncertainty in its return function except recently initiated by Harmon et al. (2001) who distinguish between the level and the years of education and incorporate uncertainty in Mincer’s Model (1974). This study has twofold objectives: First, estimate the risk-return trade-off of the public higher education capital stock in Egypt to indirectly evaluate the performance of its current financing system, and second, investigate the inter-linkage between real investment (human) and financial investment (lost opportunity or access to funds), then draw the channel through which they can affect the economic growth. |
| Keywords: | Human capital investment, financial capital investment, capital asset pricing model |
| JEL: | G11 G11 H21 |
| Date: | 2008–03 |
| URL: | http://d.repec.org/n?u=RePEc:guc:wpaper:8&r=cwa |