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on Central and Western Asia |
| By: | Teresita C Schaffer |
| Abstract: | India is a stable democratic political system with rising economic fortunes and global ambitions make it a potential power that could play a very important role in world affairs. But India has to tackle many issues to emerge as a global leader. |
| Keywords: | India, democratic, political system, economic, global leader, US, china, HIV/AIDS, middle class population |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2358&r=cwa |
| By: | Ila Patnaik |
| Abstract: | India has an elaborate system of capital controls which impede cap- ital mobility and particularly short-term debt. Yet, when the global money market fell into turmoil after the bankruptcy of Lehman Broth- ers on 13/14 September 2008, the Indian money market immediately experienced considerable stress, and the operating procedures of mon- etary policy broke down. It is suggested that Indian multinationals were using the global money market and were short of dollars on 15 Septem- ber. They borrowed in India and took capital out of the country. Three predictions are made that follow from this hypothesis, and find that the evidence matches these predictions. This suggests an important role for Indian multinationals in India's evolution towards de facto convertibility [NIPFP WP No. 2010-63]. |
| Keywords: | money market, capital controls, global financial crisis, Indian multinationals, effectiveness of capital controls, de facto convertibility, Indian, policy |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2362&r=cwa |
| By: | Suman Bery |
| Abstract: | This paper looks at rural infrastructure facilities in India, the lack of which is demonstrated to be an impediment to sustained economic development. It is argued that problems of rural infrastructure provision are different from those of the urban, given the smaller size, density and per capita incomes of rural agglomerations. [NCAER WP 94]. |
| Keywords: | India, rural infrastructure, economic development, urban, per capita income, efficiency, household, population density, Indian, town, village, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2357&r=cwa |
| By: | Jha, Rupak Kumar; Bhattacharyya, Surajit |
| Abstract: | This paper examines selected components of social security system in India and compares them with their OECD counterparts. Historically, the Indian policy makers have viewed the pension system as a welfare measure and therefore, it lacks in financial professionalism, diversification, and in the belief that pension funds can also be treated as an asset. The Indian system is biased towards the organized formal sector as workers in this sector are benefitted with the provisions under various labor laws. Even then the pension provisions in India are way far behind the OECD benchmark. In the unorganized sector, old age income remains mainly confined to voluntary savings. The New Pension System although makes the pension amount an old age asset, is silent on the social security provisions to the poor. The average income earners are not able to replace their pre-retirement earnings with pensions compared to most of the OECD countries. In terms of the gross pension wealth, India is nearer to the OECD average only in the low income category for men. Out of 5% of health care expenditure as a percentage of GDP, government’s share in India accounts even less than 1% which is significantly lower than the OECD benchmark. |
| Keywords: | Social Security System; Pension Funds; India; OECD. |
| JEL: | A13 G23 |
| Date: | 2010–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20142&r=cwa |
| By: | Pravakar Sahoo |
| Abstract: | The present paper analyses trade and investment relations and explores future areas of potential co-operation between India and Korea. The study also suggests the areas where there is huge scope for increased investment and technological collaboration between the two countries. [ICRIER WP No. 242] |
| Keywords: | investment, India, Korea, countries, technological, science, technology, revealed comparative advantage, RCA, intra industry trade, IIT, products, industry |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2354&r=cwa |
| By: | Srabani Roy Choudhury |
| Abstract: | The paper first gives a brief history and comparison of Japanese foreign direct investment into India and other Asian countries, highlighting the fact that Japanese investment into India is quite low. It then outlines the research objectives and explains the methodology followed. Second, the firm’s entry strategy is discussed to highlight how the Japanese view business partnerships. Third, attention is drawn to the obstacles faced by the firms which have been selected for the study and their responses to such obstacles. [ICRIER WP No. 243]. |
| Keywords: | India, Asian countries, Japanese investment, research, methodology, firm, strategy, business, partnerships, taxation, subsidies, history foreign direct investment |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2363&r=cwa |
| By: | Deepak Mohanty |
| Abstract: | A review of the various primary measures of inflation with a particular reference to the divergence between WPI and CPI. Focus is also given on different secondary (derived) measures of inflation, particularly core inflation, and end the discussion with some thoughts on the way forward. [Speech at the Conference of Indian Association for Research in National Income and Wealth (IARNIW)]. |
| Keywords: | national income, wealth, whole sale price index, consumption, expenditure, data, income, prices, crude prices, consumer prices indices, inflation, WPI, CPI, Indian, central banks, monetary policy, prices, primary measures, Keynes, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2372&r=cwa |
| By: | Telecom Regulatory Authority of India TRAI |
| Abstract: | Department of Industrial Policy and promotion has recently issued revised guidelines for calculation of total foreign investment i.e. direct and indirect foreign investment in Indian companies for bringing out clarity, uniformity, consistency and homogeneity into methodology of calculation across different sectors/activities. Ministry of Information & Broadcasting has requested Telecom Regulatory Authority of India (TRAI) to revisit its recommendations in view of this development. comments received may be sent to TRAI by February 08, 2010. These may please be furnished to Secretary, TRAI preferably in electronic form. [E-mail: traicable@yahoo.co.in or bcs@trai.gov.in]. The Fax numbers of TRAI are 011-23220442/ 011-23213294. |
| Keywords: | industrial policy, foreign investment, information, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2361&r=cwa |
| By: | Desai, Sameeksha (University of Missouri); Eklund, Johan (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Högberg, Andreas (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | The government of India initiated pro-market reforms in the 1990s, after almost five decades of socialist planning. These and subsequent policy reforms are credited as the drivers of India’s radical economic transformation. Prior to reforms, private investment was strictly regulated and restricted to limited sectors. There have since been numerous changes in sectors important for investment, such as the bank sector, which affects outcomes of firm-level strategic decision making and investment behavior. By most estimates, India’s economy will continue to grow rapidly. The purpose of this paper is to investigate changes in investment behavior from the introduction of reforms to current conditions. Reforms changed several institutional frameworks for firm operations, allowing firms to pursue more competitive strategies. Given the importance of ownership in determining firm efficiency and access to capital, we examine the effect of ownership type, and also control for industry differences in capital allocation. We compute a measure of investment efficiency derived from the accelerator principle: Elasticity of capital with respect to output.We find that the allocation of capital has been slow to respond to reforms, indicating similar pace of firm responses. The findings suggest that firms face significant costs in adjusting their capital stock, which inturn leads to inefficient capital allocation. Surprisingly, we find no significant improvement over the 1991-2006 time period. |
| Keywords: | market reforms; allocatio of capital; india |
| JEL: | E22 E23 E44 G10 G18 L50 |
| Date: | 2009–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0206&r=cwa |
| By: | Focus on the Global South FGS |
| Abstract: | This collection of 19 new essays written by civil society activists, trade unionists and other water practitioners, presents examples of ongoing struggles against water privatization and commercialization as well as inspiring examples of people-centered public water management from across Asia. These essays will contribute to strengthening the discussion about the ways forward for public water delivery in Asia. [FGS Report]. |
| Keywords: | Malaysia, Hong Kong, Korea, Japan, India, population, Cambodia, Indonesia, Indian, democratization, Kerala, Tamil Nadu, technology, partnerships, people, conservation, privatization, commercialization, water, Asia, civil society, activsts, trade unionists, practitioners, public water, management, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2375&r=cwa |
| By: | Dean E. Spears (Princeton University) |
| Abstract: | How might bounded rationality shape decisions to spend? A field experiment verifies a theory of bounded rationality as deliberation costs that can explain findings from previous experiments on pricing in developing countries. The model predicts that (1) eliminating deliberation costs will increase purchasing at a higher price without impacting behavior at a lower price, (2) bounded rationality has certain greater effects on poorer people, and (3) deliberation costs can suppress screening by prices. Each prediction is confirmed by an experiment that sold soap in rural Indian villages. The experiment interacted assignment to different subsidized prices with a treatment that eliminated marginal deliberation costs. The results suggest implications of bounded rationality for theory and social policy. |
| Keywords: | Rationality, price, India |
| JEL: | C01 D19 E30 H31 C93 |
| Date: | 2009–10 |
| URL: | http://d.repec.org/n?u=RePEc:pri:cepsud:1199&r=cwa |
| By: | Vasanthi Raman |
| Abstract: | The essay is begun with a reference to a television programme on one of the Hindi news channels - titled Burqe me Atankvad which was telecast sometime in mid-2005. The complex and turmoil-ridden and tortuous interrelationship between gender, national and other multiple identities are explored. [CWDS]. |
| Keywords: | gender identity, muslime men, Islam, terrorists, hindu men, life, sexes, historical, social, social structure, India, caste, television programme, National Movement, women, participation, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2371&r=cwa |
| By: | Meltem Müftüler-Baç; Yaprak Gürsoy |
| Abstract: | When Turkey began its accession negotiations with the European Union on 3 October 2005, this constituted an important turning point for Turkey’s relations with the EU and for Turkish socio-political transformation. This paper poses the following questions; is there a Europeanisation of Turkish foreign policy as a result of Turkey’s accession negotiations with the EU? If so, then what are the main areas and limits in which Europeanisation of Turkish foreign policy has occurred? This paper answers these questions by providing a background on Europeanisation, firstly by differentiating between the member states and the candidate countries, and secondly by analysing the Europeanisation of Turkish foreign policy through an investigation of the changes in Turkish foreign policy since 1999 with regards to the CFSP, NATO-EU cooperation and Middle Eastern neighbors. |
| Keywords: | CFSP/ESDP; enlargement; Europeanization |
| Date: | 2009–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:erp:reconx:p0054&r=cwa |
| By: | Petia Topalova; Dan Nyberg |
| Abstract: | This paper discusses possible medium-term public debt targets for India, based on evidence from the economic literature on prudent levels of public debt and the feasibility for the country to meet a particular target over the next 5-6 years. While recognizing the challenges in determining an appropriate debt target, cross-country analysis and simulations suggest that a debt ratio in the range of 60-65 percent of GDP by 2015/16 might be suitable for India. Such a debt ceiling, while still above the average debt level for emerging markets, is within the range of debt ratios that would provide room for countercyclical fiscal policy and contingent liabilities. It would also send a strong signal of the government's commitment to fiscal consolidation by making a clear break with the past. |
| Keywords: | Cross country analysis , Debt management , Debt sustainability , Fiscal consolidation , Fiscal policy , India , Public debt , Risk management , |
| Date: | 2010–01–11 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:10/7&r=cwa |
| By: | John Kurien |
| Abstract: | This paper attempts to explain the provision of social security in the fisheries sector of Kerala State in south India. It enumerates the salient achievements and the problems faced by the state in providing concrete social security measures for fishworkers. They were a section of Kerala society that was initially left out of the development process. The study also shows how netting them back into the mainstream was not only the result of enlightened state policy, but also, the result of the collective action by the fishworkers themselves. Finally, the paper reflects on what more needs to be done to further improve the standard of living of the fishing communities in Kerala and to streamline the delivery of social security. [WP 318]. |
| Keywords: | workers, population, chronic poverty, fisheries sector, family, society, fishing communities, standard of living, protective, promotional, public action, fisheries sector, Kerala, fish workers, social security, India, south, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2353&r=cwa |
| By: | Omay, Tolga; Aluftekin, Nilay; Karadagli, Ece C. |
| Abstract: | In this study, a bi-variate Generalized Autoregressive Conditional Heteroscedasticty model is used in order to investigate the Granger causality relationships between output growth, inflation rate and their uncertainties. Our test results show that the existence of Granger-causality is observed from nominal uncertainty to inflation, from nominal uncertainty to real uncertainty, from output growth to real uncertainty, from output growth to nominal uncertainty and from inflation to nominal uncertainty. These findings prove that theoretical predictions of Cuikerman and Meltzer (1986), Okun (1971) and Friedman (1977) are valid for the period 1986:6-2007:1 for Turkey. On the other hand, ‘Short-run Phillips Curve’ and ‘Taylor Effect’ have proven empirically to be invalid for Turkey for this sample period. Moreover, we deduce that Turkish inflation is affected by the output growth through the nominal uncertainty channel. |
| Keywords: | Inflation; output growth; uncertainty; Granger-Causality; bi-variate GARCH. |
| JEL: | C32 E31 E00 |
| Date: | 2009–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19953&r=cwa |
| By: | Robert W. Fairlie; Harry Krashinsky; Julie Zissimopoulos; Krishna B. Kumar |
| Abstract: | Indian immigrants in the United States and other wealthy countries are successful in entrepreneurship. Using census data from the three largest developed countries in the world receiving Indian immigrantsÑthe United States, United Kingdom and Canada-the authors examine the performance of Indian entrepreneurs and the causes of their success. In the United States, Indian entrepreneurs have average business income that is substantially higher than the national average and is higher than any other immigrant group. High levels of education among Indian immigrants in the United States are responsible for nearly half of the higher level of entrepreneurial earnings while industry differences explain an additional 10 percent. In Canada, Indian entrepreneurs have average earnings slightly below the national average but they are more likely to hire employees, as are their counterparts in the United States and United Kingdom. The Indian educational advantage is smaller in Canada and the United Kingdom contributing less to their entrepreneurial success. |
| JEL: | L26 J15 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:ran:wpaper:727&r=cwa |
| By: | Aaditya Mattoo |
| Abstract: | In this paper, we seek to make a twofold contribution. On outcomes, we focus on manufacturing exports as well as on manufacturing output both in the aggregate and in selected sectors. On policy, the impact of three distinct actions—emissions reductions per se; emissions tradability; and transfers are isolated. [WP No. 188]. |
| Keywords: | manufacturing, India, exports, industrialization, developing country, output, tradability, climate change, development, public private transfers, growth externalities, financial globalization |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2364&r=cwa |
| By: | Visalakshi S |
| Abstract: | The paper investigates the reasons behind slow commercialization. The approach is based on the hypothesis that to achieve successful commercialization in knowledge intensive field with high rates of turn over like biotechnology, the company should have (i) high levels of capabilities in R&D and strong network, to supplement and complement skills and facilities and (ii) an environment which is highly facilitating (high levels of preparedness of the technology delivery system) through favourable policies for regulation, accessing fiscal resources in terms of finances, infrastructure and skills, fiscal incentives, enhancing awareness of the public etc. |
| Keywords: | commercialization, biotechnology, company, delivery system, regulation, finances, regulation, fiscal incentives, awareness, biological, environment |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2369&r=cwa |
| By: | Amit K. Bhandari; Almas Heshmati (IISWBM, Management House, College Square West, Kolkata-700 073, India) |
| Abstract: | Nature based tourism is the fastest growing tourism in many parts of the world. The attitude towards conservation of nature is measured by individuals¡¯willingness to pay. This study has made an attempt to investigate the determinants of tourists¡¯willingness to pay (WTP) for biodiversity conservation. The determinants include a combination of socio-economic and site-specific characteristics of tourists. The study was conducted in Sikkim, which is India¡¯s prime nature based tourism destination. Results show that willingness to pay is determined by the level of education and income of tourists. Among site-specific characteristics length of stay and number of spots are the significant determinants of willingness to pay. This empirical research is a valuable input to identify market segment among tourists, which might help to generate more revenue for biodiversity conservation in Sikkim. |
| Keywords: | Willingness to pay, conservation, tourism, logit model, tobit model |
| JEL: | Q26 Q57 L83 C25 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:snv:dp2009:200938&r=cwa |
| By: | Shandre M. Thangavelu; Sanja Samirana Pattnayak (Singapore Centre for Applied and Policy Economics) |
| Abstract: | The paper examines the spillover and linkage effects from the presence of foreign firms in the Indian pharmaceutical industry. A comprehensive panel data consisting of nearly 200 firms from 1989 to 2000 was used in the current study. The recent semi-parametric estimation methods as suggested by Olley and Pakes (1996) and Levinsohn and Petrin (2003) were adopted to account for the endogeneity in the input demand. Our results suggest the existence of positive and significant spillover from the foreign equity ownership in the Indian pharmaceutical industry. However, we also found negative and significant spillovers from the backward linkages with foreign firms. The negative spillovers from the backward linkages suggest the possibility of large technology and efficiency gap between local and foreign firms. The results also suggest that institutional arrangements that protect intellectual property rights such as product patents as opposed to process patents will be important for establishing positive linkages and spillovers between local and foreign firms in the Indian pharmaceutical industry. |
| Keywords: | FDI, Backward and Horizontal Linkages, Olley-Pakes, Levinsohn-Petrin |
| JEL: | F23 C23 O3 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:eab:develo:1668&r=cwa |
| By: | Catherine Bros (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I, CSH - Centre de Sciences Humaines) |
| Abstract: | A vast recent literature has stressed social fragmentation's negative impact on the provision of public goods. This is a key issue, given that public goods availability has been reckoned as crucial to economic development, while developing countries' societies often exhibit high degrees of fragmentation. Although it has been well established both empirically and theoretically that fragmentation is detrimental to collective action, two caveats ought to be considered. First, a high level of social fragmentation is often associated with greater inequality, which, as Olson pointed out, may be beneficial to collective action. In Olson's argument, should most of the public goods benefits accrue to a small number of group members, they are encouraged to invest in group activities, given that their stakes in the collective action are quite high. Second, should access to publicly provided goods be restricted to the elite, a positive relationship may be found between fragmentation and ethnically based patronage. Given that both patronage and inequality are common in developing countries, it is surprising that fragmentation has never been found to have a positive effect on the provision of public goods. This article aims at showing that not only does this positive relationship exist, but it is linked to the presence of wealthy individuals who are in a position to deny access to public goods to other groups members. |
| Keywords: | Political economy, public goods, collective action, inequality, Olson, Caste, India. |
| Date: | 2009–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-00424155_v1&r=cwa |
| By: | Alsayyed, Nidal |
| Abstract: | A full array of frequently asked questions and their Shari’ah approved answers in today’s modern Islamic Economics, Finance, and Banking. |
| Keywords: | Musharakah; Sukuk; Musharakah; Murabahah; Ijarah; bequest; Waqf; Contracts; Mudarabah; Sale; Leasing; Islamic Economics; Islamic Banking; Islamic Finance |
| JEL: | K42 E50 F21 Z11 B00 |
| Date: | 2009–12–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20128&r=cwa |
| By: | Alsayyed, Nidal |
| Abstract: | Islamic Financial Engineering and Economics is the Shari’ah unique approach to formulate the parameters that any firm should use or attempt to minimize the risk adherent to any legal asset investment. Such attempts will hopefully bridge the gap in awareness on the part of Muslim economists and conventional practitioners. Our hybrid quantitative /qualitative research paper explores other less known, understood, and documented Islamic capital market instruments, such as Islamic derivatives. Shari’ah objectives towards derivatives, such as forwards, futures and options are yet to be matched for a possible compliant practical application in the implementation of such risk management tools. Islamic derivatives have been created and are now being used in the Islamic financial industry. These derivatives like other Islamic products use Shari’ah approved contracts and instruments, such as, inter alia, wa’ ad, Salam, and Murabahah. The structure of the Islamic derivatives uses a combination of the above mentioned contracts. Unlike Sukuk there are no standards that have been passed by AAOIFI. This means that Shari’ah parameters have not been standardized for the industry on these instruments. Increasing the transparency of these products would ensure adherence to Shari’ah and open up the market to better governance and comprehension. Which will result in; the standardization, identification, and examination of the various Islamic derivative products that are being offered in the market under the umbrella of Shari’ah provisions and as applied by practitioners. |
| Keywords: | Islamic Financial Engineering; Islamic Economics; Global Financial Crisis; Islamic Derivatives; fiqh mu'malat; |
| JEL: | B40 Y40 E42 A23 C63 B22 A10 M21 |
| Date: | 2009–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20081&r=cwa |