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Introduction: Political Journeys in Health - Essays by and for Amit Sengupta

Understanding science is the only way to understand the microbe—SARS-CoV-2—and what it does to our bodies. Fighting a pandemic requires a well-functioning public health system. The crisis created by...

by | On 20 Jul 2020

The Sunday Edit: Sports without Spectators: Good for Now, But Hardly the New Normal

Watching the first post-Covid football match in the German League was an experience, but even when all the new technologies that will make the experience real are in play it will not be the same as wa...

by Vidya Subramanian | On 14 Jun 2020

COVID-19: Global Diagnosis and Future Policy Perspective

The macroeconomic policy responses to COVID-19 pandemic and the impact of the pandemic on economic growth, and the level of consumption are analysed. The COVID-19 crisis is a dual crisis - public hea...

by Divy Rangan | On 06 May 2020

Emerging Markets Perspectives on G-20 led Financial Reforms

The chapter examines progress as well as continuing concerns in G-20 led financial reforms, with particular emphasis on emerging markets (EMs). Although risks remain they are of a lower order of magni...

by Ashima Goyal | On 25 Apr 2019

Exchange Rate Movements and Fundamentals: Impact of Oil Prices and the People’s Republic of China’s Growth

This paper identifies five factors that can capture 95% of the variance across 39 US dollar exchange rates based on the principal component method. A time-varying parameter factor-augmented vector aut...

by Hongyi Chen | On 01 Apr 2019

Sri Lanka’s Macroeconomic Challenges: A Tale of Two Deficits

The paper provides a narrative of Sri Lanka’s history of twin deficits, examines macroeconomic performance from the lens of twin deficits, and discusses the policies adopted to address macroeconomic i...

by Dushni Weerakoon | On 28 Mar 2019

The Anomaly of Women’s Work and Education in India

This paper utilizes a large cross-section of data sets such as the ILOSTAT, NSSO Quinquennial Employment and Unemployment Survey, Labour Bureau Annual Employment and Unemployment Survey, National Fami...

by Surbhi Ghai | On 03 Feb 2019

Changing Structure of Employment in Indian States

The study attempts a comparative assessment of the changing employment situation in major Indian states, measured in terms of worker-population ratios and the distribution of workers into status group...

by A.V. Jose | On 01 Feb 2019

Outward FDI and Crossborder M&As by Indian Firms: A Host Country-Level Analysis

This paper tries to understand the trends and the pattern of Outward Foreign Direct Investment (OFDI) by Indian firms and the factors that determine OFDI from India through Cross-Border Mergers and Ac...

by P.L. Beena | On 31 Jan 2019

Testing the Friedman-Schwartz Hypothesis Using Time Varying Correlation

This study analyses the time varying correlation of money and output using the DCC GARCH model for the Euro, India, Poland, the UK and the US. Apart from simple sum money, this model uses Divisia mone...

by Taniya Ghosh | On 30 Jan 2019

The Basel Capital Requirement, Lending Interest Rate and Aggregate Economic Growth: An Empirical Study of Vietnam

This paper investigates the effects of the Basel II capital requirement implementation in Viet Nam on the bank lending rate and national output. The paper provides a theoretical framework as well as e...

by Nguyet Thi Minh Phi | On 28 Jan 2019

Asian Development Outlook Forecast Accuracy 2007–2016

This paper assesses the accuracy of Asian Development Outlook growth and inflation forecasts for 43 Asian economies from 2007 to 2016, against the benchmark of World Economic Outlook projections by th...

by Benno Ferrarini | On 22 Jan 2019

Transformation of Indian Agriculture? Growth, Inclusiveness and Sustainability

This paper provides 10 conclusions on the policies needed to achieve three goals of agricultural development in India. These are : (1) There is a need for change in the narrative in the new context; (...

by S. Mahendra Dev | On 26 Dec 2018

An Empirical Analysis of the Factors that Influence Infrastructure Project Financing by Banks in Select Asian Economies

This paper analyzes a critical aspect of expanding private finance to infrastructure by examining the role of bank lending to public–private partnership (PPP) projects through the project finance moda...

by Vivek Rao | On 24 Aug 2018

Evaluating India's Exchange Rate Regime Under Global Shocks

The paper assesses the performance of India's managed float with respect to maintaining a real competitive exchange rate, its effect on trade, on stability of currency and financial markets, and on in...

by Ashima Goyal | On 24 Aug 2018

Enabling Smart Urban Redevelopment in India through Floor Area Ratio Incentives

This working paper assesses the potential of incentive FAR approaches in two Indian cities, Mumbai and Ahmedabad, for leveraging the economic value of urban land. A thorough analysis of Mumbai’s clust...

by Apoorva Shenvi | On 25 Jul 2018

Alternate Instruments to Manage the Capital Flow Conundrum: A Study of Selected Asian Economies

The paper analyses a nationally representative data set from India for the year 2013 in order to provide evidence on how short term migration is affected by household's ownership of land, and particip...

by Rajeswari Sengupta | On 25 Jul 2018

Portfolio Composition and Valuation Effects in Emerging Market Economies

Gross capital inflows and outflows to and from emerging market economies (EMEs) have witnessed a significant increase since early 2000s. This rapid increase in these flows accompanied by sharp rise in...

by Ashima Goyal | On 25 Jul 2018

Macroeconomic Overview of the Philippines and the New Industrial Policy

This short paper has two main sections. The first section presents a more detailed picture and overview of the macroeconomic performance of the Philippines behind the Philippines’ remarkable growth. T...

by Maureen Ane D. Rosellon | On 06 Jul 2018

Assessing the Effectiveness of IMF Programs Following the Global Financial Crisis: How Did It Change Since the Asian Crisis?

The paper identifies key features of International Monetary Fund (IMF)–supported programs following the 2008 global financial crisis. The statistical analysis of a large sample of countries that borro...

by Carlos De Resende | On 09 Jun 2018

Financial Inclusion, Regulation, Financial Literacy and Financial Education in Armenia

Financial inclusion has significantly advanced in Armenia during the last decade. Rural and urban areas, however, have benefited unevenly. The high cost of providing financial services, the lack of ph...

by Armen Nurbekyan | On 07 Jun 2018

Estimating Elasticity of Transport Fuel Demand in Pakistan

This study investigates the fuel demand elasticities separately for petrol, diesel, and CNG using data from July 2004 to June 2015 for Pakistan. The results show that fuel demands are generally (own...

by Muhammad Omer | On 06 Jun 2018

Growth and Childbearing in the Short- and Long-Run

Despite being key to theories of economic growth and the demographic transition, evidence on how fertility responds to aggregate income change is mixed. We analyze economic growth and fertility chan...

by | On 08 May 2018

Rethinking Macroeconomic Policies for Full Employment and Inclusive Growth: Some Elements

This paper reviews recent evidence and research by ILO and others concerning monetary, fiscal, exchange rate and capital account management policies, looking also at issues...

by | On 20 Apr 2018

Non-Linear, Asymmetric and TimeVarying Exchange Rate Pass-Through: Recent Evidence from India

Exploring nonlinearities and time variations in exchange rate pass-through (ERPT) to consumer prices in India for the period from April 2005 to March 2016, this paper finds ERPT is asymmetric with pas...

by | On 09 Apr 2018

Exchange Rate Instability and Trade: The Case of Pakistan

The paper says that the exchange rate is a vital macroeconomic variable and backbone of trade.

by M. Ali Kemal | On 19 Mar 2018

Bank Liquidity, Credit Supply, and the Environment

The paper evaluates the impact of the credit conditions facing corporations on their emissions of toxic air pollutants. Exploiting cross-county, cross-time shale discoveries that generated liquidity w...

by Ross Levine | On 05 Mar 2018

Sticky Expectations and Consumption Dynamics

Macroeconomic models often invoke consumption “habits” to explain the substantial persistence of aggregate consumption growth. But a large literature has found no evidence of habits in microeconomic d...

by Christopher D. Carroll | On 05 Mar 2018

Trade with Correlation

The paper develops a trade model in which productivity—the result of a country’s ability to adopt global technologies—presents an arbitrary pattern of spatial correlation. The model generates the full...

by Nelson Lind | On 05 Mar 2018

Business Cycle Measurement in India

This paper presents the business cycle chronology for the Indian economy. Two distinct phases are analysed. The pre-1991 period when the cycles were mainly driven by monsoon shocks. The post 1991 phas...

by Radhika Pandey | On 03 Mar 2018

State Level Fiscal Reforms in India: Some Core Issues

This paper has introduced instability in the budgets and has added to the burden of public debt.

by K.K. George | On 15 Feb 2018

In the Long Run We are Dead, says Keynes Amen, says the Government!

This is a dreamy and populist Budget talking high numbers while missing out on empirical realities. The irony is that, looked at closely, it has neither pleased the free market theorists nor has it do...

by K.R. Shyam Sundar | On 09 Feb 2018

What Explains Current Account Surplus in Korea?

The paper says that this idiosyncrasy of Korea’s current account surplus seems to be related to increasing saving propensity of households especially among aged people.

by Han Chirok | On 01 Feb 2018

Economic Survey 2017: Volume II: Chapter 6: External Sector

India’s external sector continued to be resilient and strong in 2017-18 so far, with the Balance of Payments situation continuing to be comfortable with the Current Account Deficit at 1.8 percent of ...

by Arun Jaitley | On 31 Jan 2018

The Effect of Restructuring on Labor Reallocation and Productivity Growth: An Estimation for Korea

The paper says that the productivity growth of the service sector would foster economy-wide productivity and it can be achieved by the mitigation of misallocation of resources in service sectors.

by Choi Hyelin | On 26 Jan 2018

Urban Employment in India: Recent Trends and Patterns

This paper explores trends in urban employment in India, with a focus on urban informal employment (defined as informal wage employment and self-employment in informal enterprises, as well as informal...

by Martha Alter Chen | On 02 Jan 2018

What does the new 2011-12 IIP series tell us about the Indian manufacturing sector?

The paper discusses the changes in the new 2011-12 base year series of the Index of Industrial Production (IIP) to ask, whether the new series has improved our under-standing of the growth in the manu...

by Radhika Pandey | On 12 Dec 2017

Response of Firms to Listing: Evidence from SME Exchanges

Public equity markets have increasingly become accessible to small and medium firms with the introduction of dedicated exchange that lower listing criteria to allow such firms to list their equity. Th...

by | On 11 Dec 2017

Exploring the Trade– Urbanisation Nexus in Developing Economies: Evidence and Implications

Developing countries have seen a rapid rise in population urbanization in the past decades. At the same time, they have participated actively in the process of globalization. However, possible interli...

by | On 20 Nov 2017

Impact of Human capital on Economic Growth: Evidence from Pakistan

The papers says that there is a need to invest in educational sector to maximize the human capital, which not only helps in economic growth but also contributes to economic development of the country.

by Syed Kazmi | On 17 Nov 2017

Management of Capital Flows in India

Increased integration with global financial markets has amplified the complexity of macroeconomic management in India. The diverse objectives of a robust growth rate, healthy current account deficit,...

by Abhijit Sen Gupta | On 13 Nov 2017

Daily Stock Market Movements: From the Lens of News and Events

This study analyzes the effect of daily movements in KSE-100 Index due to different policies announced as well as incidents/events happened in the country.

by Shahid Raza | On 31 Oct 2017

Educational Status of De-notified Tribes A Study of Telangana

This paper deals with educational status of De-notified and Nomadic Tribes (DNT-NT) of Telangana vis-à-vis their socioeconomic conditions. The present study is based on primary data collected from Mah...

by Vijay Korra | On 27 Oct 2017

On Using Exchange Rate for Promoting Exports

The report says that there are well known explanations in contemporary economic literature which explain this counterproductive impact of depreciation.

by . Atiq-ur-Rehman | On 26 Oct 2017

An Assessment of Pakistan's Export Performance and the Way Forward

This paper examines in detail Pakistan’s export performance in the light of emerging global challenges and identifies key structural and policy issues that stifle Pakistan’s exports.

by Afia Malik | On 25 Oct 2017

Macroeconomic Impact of International Reserves: Empirical Evidence from South Asia

This paper constructs a dynamic macro model with new monetary policy rule to examine the implications of international reserve accumulation for macroeconomic outcomes such as economic growth and infla...

by Prakash Shrestha | On 18 Oct 2017

Remittances and Exchange Rate Linkages: Experiences of Nepal

This paper concentrates on the impact of a few macroeconomic variables—nominal exchange rate, economic activity in host countries and workers' outflow—in determining the remittance inflows to Nepal.

by Bhubanesh Pant | On 09 Oct 2017

Examining the Eco-Macroeconomic Performance Index of India: A Data Envelopment Analysis Approach

The prime objective of the paper is to construct a robust macroeconomic performance (MEP) index of India using Data Envelopment Analysis (DEA) approach. Six major macro indicators, namely, economic gr...

by Ranjan Kumar Mohanty | On 05 Oct 2017

The Macroeconomic Benefits of Tax Enforcement in Pakistan

The benefits of improved tax enforcement in Pakistan through simulations of a model of the Pakistani economy is studied. We begin by documenting that the effective tax rate facing firms is increasin...

by Ethan Ilzetzki | On 04 Oct 2017

Optimal Inflation Rate for Nepal

This paper estimates the optimal inflation rate in Nepal based on the data of the period 1978–2016.

by Nepal Rastra Bank Research Department NRB | On 28 Sep 2017

Money's Causal Role in Exchange Rate: Do Divisia Monetary Aggregates Explain More?

The paper investigate the predictive power of Divisia monetary aggregates in explaining exchange rate variations for India, Israel, Poland, UK and the US, in the years leading up to and following the...

by Taniya Ghosh | On 18 Sep 2017

Recent Changes in Measurement of India's GDP: Overall Issues and Some Focus on Agriculture

This paper discusses (a) changes in measurement in industry and services (b) changes made in agriculture sector and (c) major issues on the measurement of GDP in new series. There are long term or leg...

by S. Mahendra Dev | On 18 Sep 2017

Non-Performing Assets in Indian Banks: This Time it is Different

Growing non-performing assets is a recurrent problem in the Indian banking sector. Over the past two decades, there have been two such episodes when the banking sector was severely impaired by balance...

by Rajeswari Sengupta | On 18 Sep 2017

Slowdown in Bank Credit Growth: Aggregate Demand or Bank Non-Performing Assets?

This paper tests the bank lending channel against the aggregate demand channel as an explanation for slow credit growth by estimating the determinants of credit and of non- performing assets (NPAs) us...

by Ashima Goyal | On 15 Sep 2017

Monetary Transmission in India: Working of Price and Quantum Channels

The paper examines the strength and efficacy of transmission from the policy rate and liquidity provision to market rates in India, using event window regression analysis. The paper finds the interest...

by Ashima Goyal | On 15 Sep 2017

Federalism and the Formation of States in India

In recent days, the process of federalization within the Indian Union has become more debatable due to the unequal federal development at various levels. In this context, the issues of state formation...

by Susant Kumar Naik | On 14 Sep 2017

The Operation of the Gold Standard in the Core and the Periphery Before the First World War

This paper examines the operation of the gold standard (GS) during the period 1870-1914, its heyday. It discusses the theory of balance of payments adjustment under the GS. Theory postulates automatic...

by Manmohan Agarwal | On 06 Sep 2017

Evaluation of Fiscal Incentives in the Philippines

This paper (1) assesses how the Philippines fares in attracting investments compared with its neighboring countries, and (2) evaluates pending incentive reforms in the country.

by Danileen Kristel C Parel | On 04 Sep 2017

Demonetisation: Macroeconomic Implications for Indian Economy

The present paper attempts to explore the macroeconomic implications of the “demonetisation” exercise announced on November 8, 2016, for the Indian economy on three board parameters of growth, distrib...

by Pradymna Rawat | On 09 Aug 2017

Phillips Curve Relationship in India: Evidence from State-Level Analysis

This paper revisits the issue of determinants of inflation in India in a Phillips curve framework and makes two key contributions in relation to existing studies. First, in the context of the Reserve...

by Harendra Behera | On 03 Aug 2017

Land Live: Land ownership in Rural India and Intra Household Exchanges

The incidence of parent-child co-residence in India is among the highest in the world. This paper examines the role of intra-household exchanges and potential bequests in creating incentives for adult...

by Sonalde Desai | On 27 Jul 2017

Comparison of Various Business Cycle Models for Pakistan

In this paper, we compare the performance of different models, on two data frequencies, in terms of matching the business cycle moments of Pakistani economy. Out of the four models, two are simple r...

by M. Ali Choudhary | On 26 Jul 2017

Asia Bond Monitor - June 2015

The report narrates that the local currency bond market in emerging East Asia continued to expand in 1Q15 to reach US$8.3 trillion at end-March.

by Asian Development Bank Institute | On 24 Jul 2017

The Effect of Oil Shocks and Cyclicality in Hiding Indian Twin Deficits

The paper estimates the relationship between the current account and fiscal deficit, and the real exchange rate, in a structural vector auto regression, with Indian data for the managed float period 1...

by Ashima Goyal | On 22 Jul 2017

Households' Inflation Expectations in India: Role of Economic Policy Uncertainty and Global Financial Uncertainty Spill-over

Inflation expectations are an important marker for the conduct of monetary policy. Using a Bayesian structural VAR-X model that includes the inflation expectations of general public based on the Infla...

by Taniya Ghosh | On 21 Jul 2017

Energy Efficiency Developments and Potential Energy Savings in the Greater Mekong Subregion

Greater gains in energy savings are possible from improved energy efficiency and conservation measures, both as a smart business investment, and an imperative for the global community.

by Asian Development Bank Institute | On 18 Jul 2017

Local Currency Bonds and Infrastructure Finance in ASEAN+3

This study was undertaken under ABMI. It addresses two key questions: (i) Why is local currency bond financing not more widely used for infrastructure projects in ASEAN+3? and (ii) What can be done to...

by Asian Development Bank Institute | On 18 Jul 2017

Maldives: Overcoming the Challenges of a Small Island State

This report provides support to the Maldivian government in formulating its high-priority policies by identifying the critical constraints to achieving inclusive growth. The report also provides polic...

by Asian Development Bank Institute | On 12 Jul 2017

Financial Soundness Indicators for Financial Sector Stability: A Tale of Three Asian Countries

This report presents country-case studies for Bangladesh, Georgia, and Viet Nam focusing on growing evidences in the development of financial soundness indicators to effectively monitor the financial...

by Asian Development Bank Institute | On 06 Jul 2017

Asia Bond Monitor - September 2015

The publication reviews recent developments in East Asian local currency bond markets along with the outlook, risks, and policy options. This issue includes a special section on Sukuk (Islamic bonds)...

by Asian Development Bank Institute | On 06 Jul 2017

Cambodia: Addressing the Skills Gap

The report says that Cambodia’s growth in the last 20 years has been remarkable and the lives of its people have improved substantially. But low-cost labor advantages on a narrow economic base have dr...

by Asian Development Bank Institute | On 30 Jun 2017

Fiji: Building Inclusive Institutions for Sustained Growth

This study, using an inclusive growth framework, has identified the critical constraints that Fiji needs to address to strengthen investor sentiment even further and achieve inclusive growth.

by Asian Development Bank Institute | On 27 Jun 2017

Fiji: Building Inclusive Institutions for Sustained Growth - Executive Summary

The report says Fiji’s economy has seen 5 years of positive growth since 2010 - one of its few episodes of sustained growth since 1970. Growth averaged 3.3% a year during 2010-2014, which is nearly fo...

by Asian Development Bank Institute | On 27 Jun 2017

Asia Bond Monitor - June 2017

This issue of the Asia Bond Monitor includes two special discussion boxes. Box 1 discusses the risks to emerging Asia’s financial stability under tightening global liquidity conditions. Box 2 discusse...

by Asian Development Bank Institute | On 23 Jun 2017

Fossil Fuel Subsidies in Asia: Trends, Impacts, and Reforms - Integrative Report

This report measures the size of associated subsidies on these fossil fuels including direct transfers, tax exemptions, subsidized credit, and losses of state enterprises in India, Indonesia, and Thai...

by Asian Development Bank Institute | On 14 Jun 2017

Asian Development Outlook 2016: Highlights

The paper narrates that the risks are tilted to the downside as tightening US monetary policy may heighten financial volatility, further moderation in the People’s Republic of China could spill over i...

by Asian Development Bank Institute | On 14 Jun 2017

Asia Bond Monitor - June 2016

The report says that the global economic environment also affects the region’s bond yields, emphasizing the importance of domestic macroeconomic stability and bond market resilience in the face of glo...

by Asian Development Bank Institute | On 06 Jun 2017

Judicial Review and Money Bills

Under the Constitution of India, for a bill to be enacted into a law, it has to be approved by both Houses of the Parliament - the Lower House (Lok Sabha) and the Upper House (Rajya Sabha). There is o...

by Pratik Datta | On 26 May 2017

An Automatic Leading Indicator Based Growth Forecast For 2016-17 and The Outlook Beyond

Building on the early work of Mitchell and Burns (1938,1946), the automatic leading indicator (ALI) approach has been developed over the last few decades by Geweke (1977), Sargent and Sims (1977), Sto...

by Parma Chakravartti | On 26 May 2017

Tajikistan: Promoting Export Diversification and Growth

Tajikistan has sustained high economic growth since its civil war ended in 1997. Real gross domestic product (GDP) during 1997–2015 grew at an average 7.2% a year, driven mainly by agriculture and ser...

by Asian Development Bank Institute | On 24 May 2017

Dynamic Stochastic General Equilibrium (DSGE) Modelling :Theory And Practice

In recent years DSGE (dynamic stochastic general equilibrium) models have come to play an increasing role in central banks, as an aid in the formulation of monetary policy (and increasingly after th...

by DILIP NACHANE | On 04 May 2017

Differential Impacts of Currency Undervaluation on Growth and Exports in Natural Resource vs. Manufacturing Exporting Countries

This paper aims to analyze the differential impact of exchange rate undervaluation on growth and exports in different countries. The paper considers two sets of countries in our dataset-18 countries a...

by Sanika Sulochani Ramanayake | On 03 May 2017

Global Wage Report 2016/17: Wage Inequality in the Workplace

This new ILO Global Wage Report – the fifth in a series that now spans over a decade – contributes to this agenda by making comparative data and information on recent wage trends available to governme...

by International Labour Organization [ILO] | On 14 Apr 2017

Macroeconomic Impact of Demonetisation: A Preliminary Assessment

The analysis in this paper suggests that demonetisation has impacted various sectors of the economy in varying degrees; however, in the affected sectors, the adverse impact was transient and felt ma...

by Reserve Bank of India RBI | On 21 Mar 2017

How have States Designed their School Education Budgets?

After the implementation of the Right of Children to Free and Compulsory Education Act (RTE) in 2010, states have brought about some improvement in school education in terms of infrastructure, enro...

by Child Rights and You CRY | On 18 Jan 2017

Strategic Review of Food Security and Nutrition in Bangladesh

The battle against the challenges with food security and nutrition will have to be fought on many fronts at the same time. In general, anything that promotes broad-based or inclusive growth, thereby r...

by | On 18 Jan 2017

Going and Coming and Going Again: Second-Generation Migrants in Dubai

The government of the United Arab Emirates requires all foreign migrant workers to reside on temporary visas. This affects transnational mobility patterns among the one class of residents whom we shou...

by | On 09 Jan 2017

Role of Foreign Direct Investment in India: An Analytical Study

International Economic Integration plays a vital role in Economic Development of any country. Foreign Direct Investment is one and only major instrument of attracting International Economic Integratio...

by | On 04 Jan 2017

The Move to Cashless Economy May be Modernity But Definitely Death of Social Relations

There is an enormous mismatch between expectation and reality on this issue. Some people seem to assume that India could quickly go cashless during this period of remonetisation of cash. This prematur...

by Shyam Sundar | On 27 Dec 2016

Inter-ethnic Fertility Spillovers and the Role of Forward-looking Behavior: Evidence from Peninsular Malaysia

Demographic pressures can create competition for limited private and public resources and exacerbate pre-existing inter-ethnic tensions. At the same time, inter-ethnic competition may influence indivi...

by | On 23 Dec 2016

Problems and Challenges of Urbanization in India: A Sociological Evaluation

The urbanization is a process which urban social and urban civilization forming gradually. On the way of urbanization, we develop the economy first and improve the quality of people’s life later. Alth...

by | On 14 Dec 2016

India and the Global Economy

Drawing attention to a high dropout rate in upper primary schools, Singapore Deputy Prime Minister Tharman Shanmugaratnam today said schools are facing the “biggest crisis” in India. Delivering the f...

by Tharman Shanmugaratnam | On 08 Dec 2016

Inflation in Pakistan: Money or Oil Prices

The study attempted to investigate the determinants of inflation in case of Pakistan and to check the validity of monetarist stance that inflation is always and everywhere a monetary phenomenon by i...

by Mehak Moazam | On 07 Dec 2016

Rethinking Poverty: Report on the World Social Situation 2010

This Report on the World Social Situation seeks to contribute to rethinking poverty and its eradication. It affirms the urgent need for a strategic shift away from the market fundamentalist thinking,...

by United Nations (UN) | On 17 Nov 2016

Female Labour Force Participation Rate

Female Labour Force Participation (FLFR) is a driver of growth and economic development and therefore, participation rates indicate the potential for a country to grow more rapidly. However, women’s e...

by sarabjit kaur | On 11 Nov 2016

The Yogi and the Commissar

It’s the season for media biographies, as NDTV and TV18 publish their life stories. If NDTV comes across as self-righteous TV18 is open about its sins of commission. Chintamani Rao says the books of...

by | On 07 Nov 2016

Female Labor Force Participation in Asia: Key Trends, Constraints, and Opportunities

This brief reports on findings from four country studies and a companion macroeconomic study calibrated using an average Asian economy. Almost 28% of the world’s working-age women are accounted for in...

by Asian Development Bank Institute | On 04 Nov 2016

The Elephant That Became a Tiger 20 Years of Economic Reform in India

A foreign exchange crisis in 1991 induced India to abandon decades of inward-looking socialism and adopt economic reforms that have converted the once-lumbering elephant into the latest Asian tiger. I...

by | On 28 Oct 2016

Regime Shifts in India’s Monetary Policy Response Function

The objectives of monetary policy have always been a topic of intensive debate. This debate has resurfaced during the past few years. In India too monetary policy-making appears to have undergone si...

by Lokendra Kumawat | On 10 Oct 2016

MenEngage Global Alliance 2015 Annual Report

This is the third annual report for the MenEngage Alliance’s Global Strategic Plan 2012-2016, in which the main activities and achievements of 2015, based on the four strategic objectives are reported...

by MenEngage Global Alliance | On 07 Oct 2016

Harvesting Solar Power in India!

This is particularly so when the current solar power capacity in the country has just touched 8000 MW by July end, 2016, and no country in the world has such an ambitious target as India has set out...

by Ashok Gulati | On 16 Sep 2016

The Changing Rates of Return to Education in India: Evidence from NSS Data

This paper estimates rates of return to education in India by gender, caste, religion and age cohorts using data for the period 1983 to 2011-12. We estimate standard Mincerian wage equations separatel...

by | On 14 Sep 2016

Health Spending, Macroeconomics and Fiscal Space in Countries of the World Health Organization South-East Asia Region

The paper examines the issues around mobilization of resources for the 11 countries of the South-East Asia Region of the World Health Organization (WHO), by analysing their macroeconomic situation, he...

by | On 07 Sep 2016

The Independence of the Central Bank

Central banking does not mean just rates cuts and rate rising. There are many decisions to be taken sometimes unpopular or hard-to-explain ones, to be made under conditions of extreme uncertainty. The...

by Raghuram G. Rajan | On 06 Sep 2016

Abductive Reasoning in Macroeconomics

Macroeconomic analytical frameworks change with events they are unable to explain. The process is closer to abductive reasoning that is based on both events and analysis, unlike induction which is d...

by Ashima Goyal | On 31 Aug 2016

Trends and Patterns in the Triple Burden of Malnutrition in India

This paper brings together recent evidence on what has come to be referred to as the triple burden of malnutrition—consisting of overnutrition, undernutriton, and micronutrient deficiencies—using va...

by Meenakshi J V | On 19 Aug 2016

Optimal Domestic (And External) Sovereign Default

Infrequent but turbulent episodes of outright sovereign default on domestic creditors are considered a “forgotten history” in Macroeconomics. This paper proposes a heterogeneous-agents model in which...

by Pablo D'Erasmo | On 17 Aug 2016

Revisiting the Tax Compliance Problem using Prospect Theory

The paper presents a model for tax compliance based on prospect theory wherein an individual makes the decision whether to file, and declare a certain amount of income, or to not file based on a set...

by R.Kavita Rao | On 17 Aug 2016

Macroeconomic Determinants of Remittances in South Asian countries: A Dynamic Panel Study

The study attempts to identify the macroeconomic determinants of remittance inflows in South Asian countries. It uses additively separable utility function as theoretical framework and the Arellano-Bo...

by | On 16 Aug 2016

Infrequent but Long-Lived Zero-Bound Episodes and the Optimal Rate of Inflation

Countries rarely hit the zero-lower bound on interest rates, but when they do, these episodes tend to be very long-lived. These two features are difficult to jointly incorporate into macroeconomic mod...

by Marc Carreras | On 16 Aug 2016

Wage Flexibility and Employment Fluctuations: Evidence from the Housing Sector

This paper compares three occupations in the housing sector with very different wage setting institutions, real estate agents, architects, and construction workers. It studies the wage and employment...

by Jörn Pischke | On 10 Aug 2016

Inequality, Poverty, and Antipoverty Transfers

This report reviews the main trends in global poverty, assesses projections on poverty trends for the medium term, and considers the implications for antipoverty policy. Three main points emerge from...

by Armando Barrientos | On 10 Aug 2016

Food Scurity and Nutrition: The Drivers of Change

This section looks at a range of factors that enable progress towards food security and nutrition goals. The list of factors – economic growth, agricultural productivity growth, markets (including int...

by Food and Agricultural Organization [FAO] | On 03 Aug 2016

Policy and Evidence

There has to be evidence in the policy dialogue. Some may believe that all it takes to convince the body politic of the necessity to choose one policy over another is to present the evidence, complete...

by Raghuram G. Rajan | On 03 Aug 2016

Informality in South Asia: A Review

Labour markets in South Asia have been characterized as dualistic, with a relatively small, well-protected formal sector and a large unprotected informal sector. Indeed, the formal workforce is very s...

by | On 29 Jul 2016

South-South Migration and Remittances

The impact of South-South migration on the income of migrants and natives is smaller than for South-North migration. However, even small increases in income can have substantial welfare implications f...

by | On 27 Jul 2016

Bringing Real Market Participants' Real Preferences into the Lab: An Experiment that Changed the Course Allocation Mechanism at Wharton

This paper reports on an experimental test of a new market design that is attractive in theory but makes the common and potentially unrealistic assumption that “agents report their type”; that is, tha...

by Eric Budish | On 27 Jul 2016

RBC Methodology and the Development of Aggregate Economic Theory

This essay reviews the development of neoclassical growth theory, a unified theory of aggregate economic phenomena that was first used to study business cycles and aggregate labor supply. The focus of...

by Edward Prescott | On 21 Jul 2016

Economic Reform and Social Sector Expenditures: A Study of Fifteen Indian States

This paper examines social sector expenditures in fifteen Indian states between 1980/81 and 1999/2000 to find out whether the far-reaching economic reforms that began in 1991 had any significant impac...

by | On 19 Jul 2016

Food Security and the Millennium Development Goal on Hunger in Asia

The MDG on hunger requires that the proportion of people suffering from hunger be halved between 1990 and 2015. Behind this apparently simple statement lies much complexity: the food intake required t...

by | On 19 Jul 2016

Oil Price, Exchange Rate and the Indian Macro Economy

The paper investigates the dynamic relationship between movements in oil prices and exchange rates with macroeconomic variables like price, output, interest rate and money by using structural vector a...

by Taniya Ghosh | On 12 Jul 2016

Population Growth: Trends, Projections, Challenges and Opportunities

Human beings evolved under conditions of high mortality due to famines, accidents, illnesses, infections and war and therefore the relatively high fertility rates were essential for species survival....

by Planning Commission, India | On 12 Jul 2016

Operational Guidelines: Restructured Weather Based Crop Insurance Scheme

Weather Based Crop Insurance Scheme (WBCIS) aims to mitigate the hardship of the insured farmers against the likelihood of financial loss on account of anticipated crop loss resulting from adverse wea...

by Department of Agriculture & Cooperation GOI | On 07 Jul 2016

Impact of Independent Directors’ Resignations on Firm’s Governance

Directors are liable for any act of omission or commission. They have a reputation to protect. While Independent directors might engage in passive monitoring; when apprised of a decision where the pro...

by Preet Singh | On 05 Jul 2016

Is Marketing a Science: Debate Revisited

The study conducts a formal analysis of various schools of thought of science. Specifically, the study offers a comparison between historical relativism, scientific realism, logical empiricism, and lo...

by Dheeraj Sharma | On 01 Jul 2016

Global Commodity Prices and Inflation in a Small Open Economy

Global commodity prices surge of 2007-08 sent an inflationary shock across the countries. 2014 global prices descend resulted in significant disinflation in many countries and even deflation in some ...

by Muhammad Nadim Hanif | On 30 Jun 2016

National and International Agricultural Research and Rural Poverty: The Case of Rice Research in India and China

The study attempts to measure the total benefits from rice varietal improvement research in China and India using variety adoption and performance data over the last two decades. It then uses informat...

by | On 23 Jun 2016

Federal Budget of Pakistan 2016

Budget speech of Pakistan 2016-17.

by Mohammad Ishaq Dar | On 17 Jun 2016

Evaluating Labour Market Policy

This pper reviews major approaches and findings on the evaluation of the impact of different labour market institutions but pays particular attention to active labour market policies that play an impo...

by Werner Eichhorst | On 15 Jun 2016

Ministry of Finance and Planning Annual Report 2010

This paper contains the annual report 2010 of Ministry of Finance and Planning, Government of Sri Lanka.

by Ministry of Finance and Planning, Govt of Sri Lanka | On 15 Jun 2016

Yoga in India: Wellness Special Digital Edition

In this special digital edition on yoga, the various aspects of this way of life that has been compiled from the last 25 years’ issues of India Perspectives with an update from The Great Indian Yoga M...

by Ministry of External Affairs, GoI MEA | On 10 Jun 2016

From ‘Look East’ to ‘Act East’ Policy: Continuing with an Obfuscated Vision for Northeast India

The paper deals with the above issues by analyzing the scenario in NEI, as to how the region with its present status fits into the LEP regime. In this regard, the contemporary ma...

by Gorky Chakraborty | On 06 Jun 2016

Nutritional Intake in India: 2004-2005

The present report on nutritional intake in India is based on data collected through the 61st round of NSS (July 2004-June 2005). It mainly focuses on intake of nutrients by households in terms of pro...

by Ministry of Statistics and Prog Implementation (MOSPI) | On 20 May 2016

For Whom Does the Phone (not) Ring? Discrimination in the Rental Housing Market in Delhi, India

Using an audit experiment carried out on of India’s largest real estate websites, this study documents striking variations between landlords’ treatment of upper-caste Hindus, Other Backward Castes, Sc...

by Saugato Datta | On 18 May 2016

Factors Impacting Railway Freight Traffic in India

The Indian Railway (IR) system is one of the four railway systems in the world that transports more than one billion tonnes of traffic annually. As against a growth of 4 per cent to 4.5 per cent in t...

by Saurabh Bandyopadhyay | On 09 May 2016

India Policy Forum 2014 - 2015

The episode of volatility starting on May 22, 2013, when Federal Reserve Chairman Ben Bernanke first spoke of the possibility of the US central bank “tapering” its security purchases, had a sharp nega...

by Shekhar Shah | On 09 May 2016

Issues in India's External Sector

The lecture examines the recent developments in the external sector and address some critical issues such as the appropriate level of current account deficit, exchange rate policy, adequacy of reserve...

by C. Rangarajan | On 06 May 2016

Monetary Transmission in Developing Countries: Evidence from India

This paper examines what the empirical evidence has to say about the strength of monetary transmission in India, using the structural vector autoregression (SVAR) methods that have been applied broadl...

by | On 02 May 2016

Foreign Exchange Markets, Intervention and Exchange Rate Regimes

The paper describes the institutional features of these markets, with special emphasis on the process of liberalization and deepening in Indian FX markets, in the context of global integration. Since...

by Ashima Goyal | On 02 May 2016

Impact of Trilemma Indicators on Macroeconomic Policy: Does Central Bank Independence Matter?

This paper shows that the institutional changes such as Inflation Targeting (IT) helps lower inflation without depending upon the level of Central Bank Independence (CBI) in a country as is suggested...

by | On 02 May 2016

Is there a Case for Exchange Rate Coordination in South Asia?

This paper evaluates the case for greater exchange rate coordination in South Asia. With inter-regional integration in South Asia progressing at a faster pace than the region's integration with the wo...

by Rajeswari Sengupta | On 02 May 2016

Reassessing Exchange Rate Overshooting in a Monetary Framework

This paper revisits the Dornbusch exchange rate overshooting in a different model setting.

by Taniya Ghosh | On 02 May 2016

Eliminating Malaria

This WHO report released on World Malaria Day, 2016 shows that, although an ambitious goal, eliminating malaria from 35 countries by 2030 is achievable. Malaria mortality rates have declined by 60% gl...

by World Health Organisation (WHO) | On 27 Apr 2016

Budget 2016-17 & The Indian Economy

A brief summary by Niti Aayog about the pre and post 2016-17 Indian Budget Analysis.

by Arvind Panagariya | On 28 Mar 2016

Budget Speech Haryana: 2016-17

Budget Speech of Finance Minister of Haryana.

by Capt. Abhimanyu | On 22 Mar 2016

Structural Change, Economic Growth and Trade: Case for Regional Reallocation of Investment in India

The economic structure and rates of growth across the states in India are markedly different, with significant disparities in income per capita growth as well as sector-specific performance. The high-...

by Alokesh Barua | On 21 Mar 2016

Water Reallocation and Grabbing Processes, Mechanisms and Contributory Factors

The paper attempts to develop a project life-cycle approach to gain insights into the complexities of water reallocation. The paper is able to show that water reallocation and the resultant phenomeno...

by Subodh Wagle | On 21 Mar 2016

Optimal Monetary Policy in the Presence of Sizable Informal Sector and Firm Level Credit Constraint

Optimality of pro-cyclical monetary policy in the presence of informal sector and firm level constraint is analysed. The findings suggest that in case of export demand shock pro-cyclical monetary pol...

by Waqas Ahmed | On 21 Mar 2016

Exchange Market Pressure in India

In this paper, we empirically investigate the episodes of currency market stress/crisis in India during the period 1992 – 2012 with the help of a monthly EMP index for India constructed for this perio...

by Anuradha Guru | On 16 Mar 2016

Trade and Wage Inequality: A Specific Factor Model with Intermediate Goods

In this paper we have made an attempt to explain the observed rising inequality between unskilled and skilled wages, or, fall in relative wages of unskilled labour within a general equilibrium framewo...

by Alokesh Barua | On 16 Mar 2016

Impact of Strengthening Intellectual Property Rights Regime on Income Inequality: An Econometric Analysis

This paper examines the impact of strengthening Intellectual Property Rights (IPRs) on within-country income inequality for a cross-section of 65 developed and developing countries for the time period...

by Swati Saini | On 16 Mar 2016

Structural Transformation in the North-Eastern Region of India: Charting out an agriculture-based development policy

In this paper we attempt to explore the process of structural transformation in the North Eastern States of India, positing it in the paradigm of agriculture led development. The paper tries to examin...

by Alwin D’souza | On 16 Mar 2016

Capital Flows and the Impossible Trinity: The Indian Experience

This paper devises quantitative techniques to analyze the management of foreign capital flows in India over the past three decades. The paper argues that India's overall approach towards liberaliza...

by Abhijit Sen Gupta | On 15 Mar 2016

Can the Organised and Unorganised Sectors Coexist: A Theoretical Study

In the past debates around protection are usual couched in terms of protection of the manufacturing sector from imports and are centered around the so called “infant industry” argument. This paper has...

by Manoj Pant | On 15 Mar 2016

Financial Soundness Indicators for Financial Sector Stability - A Tale of Three Asian Countries

The 1997 Asian financial crisis and the 2008 global financial and economic crisis further demonstrated the importance of financial stability. Both crises showed how balance sheets of financial institu...

by Asian Development Bank Institute | On 15 Mar 2016

Financial Soundness Indicators for Financial Sector Stability in Bangladesh

This report describes the development of financial soundness indicators for Bangladesh and analyzes how these can help identify key challenges to support financial sector stability in the country.

by Asian Development Bank Institute | On 15 Mar 2016

Implications of MGNREGS on Labour Market, Wages and Consumption Expenditure in Kerala

This paper makes an attempt to evaluate the implications of MGNREGS in labour short economy of Kerala. The analysis of NSSO unit level data revealed inter-state differences in implementation of the sc...

by V. Dhanya | On 14 Mar 2016

The Housing Market and Housing Policies in Japan

Housing policies in Japan after World War II were focused on the quantitative supply of houses with a wide range of targeted groups and public rental houses. The Japan Housing Corporation (now the Urb...

by Masahiro Kobayashi | On 14 Mar 2016

India in the Global Economy

The global economy is finding it hard to restore pre-Great Recession growth rates – every report of the IMF seemingly downgrades its previous growth forecasts. Why has the recovery been so slow? When ...

by Raghuram G. Rajan | On 14 Mar 2016

Towards Rules of the Monetary Game

There are few areas of robust growth around the world, with the IMF repeatedly reducing its growth forecasts in recent quarters. This period of slow growth is particularly dangerous because both ind...

by Raghuram G. Rajan | On 14 Mar 2016

Biofuel Feedstock Cultivation in India: Implications for Food Security and Rural Livelihoods

Biofuels are acquiring importance due to their potential to mitigate greenhouse gas emissions. The two most important biofuels – viz., bioethanol and bio-diesel, are largely considered supplementary t...

by K.S. Kavi Kumar | On 11 Mar 2016

Effect of Macroeconomic News Releases on Bond Yields in India China and Japan

This paper studies the effect of domestic macroeconomic news releases on the change in the bond yields of India, China and Japan. We apply event study method to observe whether the large set of new in...

by Sreejata Banerjee | On 10 Mar 2016

Is Financial Inclusion Cause or Outcome? A State-Wise Assessment in India

Financial inclusion is considered as cause as well as outcome of inclusive growth. This study tries to construct a comprehensive measure of financial inclusion and evaluate the extent of financial inc...

by Shrabani Mukherjee | On 10 Mar 2016

Does Corporate Governance Matter in Determinants and Use of Cash: Evidence from India

Our study investigates the determinants and use of cash holdings by Indian companies. Using a large sample of manufacturing firms that are publicly traded on Bombay Stock exchange for the period of 19...

by Ekta Selarka | On 10 Mar 2016

Determinants of Child Health: An Empirical Analysis

Infant and child mortality rates in India have fallen by almost half from the time of adoption of millennium development goals to 2012 but there has not been a concurrent decrease in morbidity and und...

by Sowmya Dhanaraj | On 10 Mar 2016

German Varieties of Capitalism and Varieties of Macroeconomic Policy: Are Some Economies More Procyclical Than Others?

The role of macroeconomic policy in the different varieties of capitalism has been largely ignored. Recent contributions to the literature have argued that nonliberal economies should be expected to h...

by | On 09 Mar 2016

Mass Education or a Minority Well Educated Elite in the Process of Development: the Case of India

This paper analyses whether in developing countries mass education is more growth enhancing than to have a minority well educated elite. Using the Indian census data as a benchmark and enrollment rate...

by Amparo Castelló-Climent | On 09 Mar 2016

Producing a Rationale for Dowry? Gender in the Negotiation of Exchange at Marriage in Kerala, South India

The allocation of scarce budgetary resources away from ‘alternative’ channels of social security underscores interlocking concerns: a) the financial drain that marriages of girls pose to families and...

by Praveena Kodoth | On 09 Mar 2016

Australian High Court Rules Refugee Swap with Malaysia Unlawful

The controversy surrounding the Australia¬Malaysia refugee swap agreement that would have seen 800 asylum seekers sent to Malaysia in exchange for 4,000 processed refugees took a decisive turn on 31...

by S. Rajaratnam International Studies | On 02 Mar 2016

Economic and Political Relations Between Bhutan and Neighbouring Countries

The diversification of Bhutan’s relations began with its entry into the United Nations in 1971, and while external relations continued to be largely confined to India, the establishment of its relatio...

by | On 02 Mar 2016

Impact of China Slowdown on India

After three decades of double-digit growth, China is slowing as it is rebalancing its economy from export-driven to less-volatile domestic consumption driven economy. The paper looks at the impact of...

by Geetima Das Krishna | On 02 Mar 2016

Labour Force Participation of Women in India: Some facts, Some Queries

The plan of the paper is as follows. Section 2 describes the data and definitions used in this study. Fertility and labour force participation are affected by broadly the same parameters. Section 3 lo...

by Surjit S. Bhalla | On 01 Mar 2016

Should China Revisit the 1994 Fiscal Reforms?

The 1994 Fiscal Reforms in China were spectacularly successful in meeting the immediate challenges that the economy faced at that time—a sharply dropping tax/GDP ratio, and limited ability of the cent...

by Ehtisham Ahmad | On 01 Mar 2016

Change and Continuity: Agriculture in Palanpur

A central theme in all the studies of Palanpur that have been undertaken to date has been the changing nature of agriculture. One of the reasons for selecting Palanpur from amongst the many villages t...

by Himanshu Prof | On 29 Feb 2016

Railroads of the Raj: Estimating the Impact of Transportation Infrastructure

How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archival data from colonial India and use it to...

by Dave Donaldson | On 29 Feb 2016

Challenges and Developments in the Financial Systems of the Southeast Asian Economies

This paper discusses the economies and financial systems of Southeast Asia (SEA) and focuses on challenges and developments in the region. Despite the diversity of SEA economies and some important exc...

by Toshiyuki Shimada | On 29 Feb 2016

Price Discovery and Volatility on NSE Futures Market

This paper studies price discovery and volatility in the context of introduction of Nifty futures at the National Stock Exchange (NSE) in June 2000. Cointegration and Generalised Auto Regressive Cond...

by M. T. Raju | On 28 Feb 2016

Corporate Debt Market in India: Key Issues and Some Policy Recommendations

This paper presents an overview of the corporate debt market in India. A study of the structure and the status of the corporate debt market along with the current policies initiated by Securities and...

by M. T. Raju | On 28 Feb 2016

Nuclear and safety: Can the Two Ever Meet?

In September, the Japanese government announced that it would phase out nuclear energy by 2040. Just one week later, it stepped back from specifying an explicit timeframe. The about-turn illustrates J...

by Lina Gong | On 27 Feb 2016

Retesting the estimation of a utility-based asset pricing model using normal mixture GARCH (1, 1)

The main purpose of this paper is to derive the process of estimating dynamic RRA with the maximum likelihood and a Bayesian method having a weakly informative prior density while assuming that the lo...

by Rohit Gupta | On 27 Feb 2016

Understanding the Response of Indian Banks to Macroeconomic Shocks: A Strategy Perspective

The vulnerability of banks to macroeconomic and financial shocks is an area of growing interest to policymakers, especially in emerging markets. Strong adverse aggregate shocks contribute heavily to l...

by Rohit Gupta | On 27 Feb 2016

Food Security and the Threat from Within: Rice Policy Reforms in the Philippines

The forces of globalization, in tandem with realities of domestic natural resources, economics and politics, and the influence of international institutions such as the World Trade Organization (WTO),...

by | On 26 Feb 2016

Towards Comprehensive Economic Co-operation between India and Central Asian Republics

Despite some recovery in recent years, Central Asian Republics (CARs) remain in difficult economic situation and they present a serious challenge to Asia. It is in the mutual interest of both CARs and...

by Ramgopal Agarwala | On 24 Feb 2016

Urban Nomads: The Masan Jogis Based on the Field Work Experiences in Mumbai

This paper is based on field work experiences with Masan Jogi community living in Mumbai city, which is a De-Notified Tribe. There is lack of awareness and knowledge about these communities.

by . Anjana | On 24 Feb 2016

Industrial Growth And Environmental Industrial Growth And Environmental Industrial Growth And Environmental Degradation: Degradation: Degradation: A Case Study Of Tiruppur Textile Cluster A Case Study Of Tiruppur Textile Cluster A Case Study Of Tiruppur Textile Cluster

The rapid economic growth achieved after globalization by most of the developing countries, has imposed considerable social costs and has become a major threat to sustainable development. However it i...

by Prakash Nelliyat | On 23 Feb 2016

Pulp Friction: Southern Environment or Western Agendas?

Campaigns against big pulp and palm oil producers in Indonesia appear to be driven by local activists on the ground. In reality, they are facilitated by huge budgets and shaped by agendas emanating fr...

by | On 23 Feb 2016

From Crisis to Recovery in Asia: Strategies, Achievements, and Lessons

This paper reviews and highlights lessons from the stabilisation and reform programme that Thailand, Malaysia and Korea implemented in response to the 1997 crisis. The three countries’ rapid recovery...

by Kanit Sangsubhan | On 23 Feb 2016

International Monetary Reform: A Critical Appraisal of Some Proposals

This paper reviews some of the current debates on the reform of the international monetary system. Despite its deficiencies, the United States (US) dollar will remain the dominant currency and Special...

by Yung Chul Park | On 22 Feb 2016

Asymmetry In Government Bond Returns

Is there asymmetry in the distribution of government bond returns in developed countries? Can asymmetries be predicted using financial and macroeconomic variables? To answer the first question, we pro...

by Ippei Fuijwara | On 21 Feb 2016

A Dynamic Stochastic General Equilibrium Model for India

Over the last decade, the Dynamic Stochastic General Equilibrium (DSGE) framework has become a workhorse for macroeconomic analysis in both academic and policy circles. Following this emerging trend,...

by Parantap Basu | On 21 Feb 2016

The People’s Republic of China and Global Imbalances from a View of Sectorial Reforms

This paper examines the impact of sectorial reforms on current account imbalances, with a special focus on the People’s Republic of China (PRC). In particular, we investigate to what extent reforms pe...

by Hiro Ito | On 21 Feb 2016

Asian Monetary Integration: A Japanese Perspective

This paper discusses Japan’s strategy for Asian monetary integration. It argues that Japan faces three major policy challenges when promoting intraregional exchange rate stability. First, there must b...

by Masahiro Kawai | On 21 Feb 2016

Labor Supply Responses to the 1990s Japanese Tax Reforms

The consumption-leisure choice model implies that an exogenous change in tax rates will induce a change in labor supply. This implication is expected to be important to labor supplied by secondary ear...

by Ken Yamada | On 19 Feb 2016

How Much Do We Know about the Impact of the Economic Downturn on the Employment of Migrants?

The employment shock of late 2008 in the People’s Republic of China (PRC) may have been a product of three different events: (i) the contractionary macroeconomic policies introduced by the government...

by Xin Meng | On 19 Feb 2016

Making Room for a Planet of Cities

The Making Room Paradigm draws on data collected from a sample of 120 cities, extracted from a much larger database, and is based on the realization that rapid urban population growth and its rapid co...

by Shlomo Angel | On 19 Feb 2016

Urbanization & Demographics: The Coordination Problem

The lecture is based on the realization that little attention is being paid to the inexorable increase in urban populations, particularly in very low income countries. Almost all of the world’s next 2...

by | On 19 Feb 2016

Addressing Global Land Challenges

This lecture is based on the realization that the current global approach to land systems cannot meet the needs of the majority of people in developing countries in regard to security of tenure and it...

by | On 19 Feb 2016

Urban Economy in the New Millennium

Michael Cohen in this lecture illustrates data about economic growth that demonstrate how cities act as engines of national economic development. In 2008, for the first time in human history, half the...

by | On 19 Feb 2016

Too Pressed To Wait

Jane Weru in this lecture highlights the plight of women and girls living in informal settlements in Nairobi, with special regard to the poor sanitation conditions prevalent in informal settlements in...

by | On 19 Feb 2016

Civil Servants’ Salary Structure

The paper looks at the trends in nominal and real salaries of the Federal Government employees over the period 1990-2006. It examines the structural defects in the existing salary structure and the an...

by Faiz Bilquees | On 18 Feb 2016

A New Paradigm for Food Security: Robustness as an End Goal

Food security at the national level is now recognised to be dependent on a complex set of factors which interact and collectively influence the availability of food, its supply chains, its affordabili...

by | On 17 Feb 2016

Volatility Spillover between the Stock Market and the Foreign Market in Pakistan

The paper examines the volatility spillover between the stock market and the foreign exchange market in Pakistan. For the longrun relationship we use the Engle Granger two-step procedure and the volat...

by Abdul Qayyum | On 17 Feb 2016

A Significant Shift in Casual Relations of Money, income, and Prices in Pakistan: The Price Hikes in the Early 1970s

This study extends the analysis of causality by Husain and Rashid (2006) by taking care of the shift in the variables due to the price hikes in the early 1970s. Casual relation between real income and...

by Fazal Husain | On 17 Feb 2016

The Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange

It is investigated whether differences in quality of firm-level corporate governance can explain the firm-level performance in a cross-section of companies listed at Karachi Stock Exchange. Therefore,...

by Attiya Y. Javid | On 17 Feb 2016

Exchange Market Pressure and Monetary Policy: Evidence from Pakistan

The study employs Girton and Roper (1977) measure of exchange market pressure—sum of exchange rate depreciation and foreign reserves outflow, to examine the interaction between exchange market pressur...

by M. Idrees Khawaja | On 16 Feb 2016

Economic Stability and Choice of Exchange Rate Regimes

The purpose of this paper is to emphasize the importance of Europe’s structural problems and governance as the cause of the current euro area crisis. The euro may have led to bubbles, but member econo...

by Sahoko Kaji | On 16 Feb 2016

Global Implications of the Renminbi’s Ascendance

This paper evaluates the prospects for the renminbi’s role as an international currency and the implications for global financial markets. Although the People’s Republic of China (PRC) does not have e...

by Eswar Prasad | On 16 Feb 2016

Effectiveness of the Easing of Monetary Policy in the Japanese Economy, Incorporating Energy Prices

Japan has reached the limits of conventional macroeconomic policy. In order to overcome deflation and achieve sustainable economic growth, the Bank of Japan (BOJ) recently set an inflation target of 2...

by Naoyuki Yoshino | On 16 Feb 2016

Hometown Investment Trust Funds: An Analysis of Credit Risk

In Asia, small and medium-sized enterprises (SMEs) account for a major share of employment and dominate the economy. Asian economies are often characterized as having bank-dominated financial systems...

by Naoyuki Yoshino | On 16 Feb 2016

Myanmar: The Key Link between South Asia and Southeast Asia

This paper examines the road and railway links in Myanmar connecting northeast India on the one side with the rest of Southeast Asia on the other. It also discusses the importance of new deep-sea port...

by Hector Florento | On 16 Feb 2016

The Taylor Rule and the Macroeconomic Performance in Pakistan

A widely agreed proposition in modern economics is that policy rules have greater advantage over discretion in improving economic performance. Simple monetary policy instrument rules are feasible opti...

by Wasim Shahid Malik | On 15 Feb 2016

Monetary Policy Objectives in Pakistan: An Empirical Investigation

The Taylor rule (1993) focuses only on two objectives: output and inflation. In practice, the central bank’s loss function (especially in developing countries) contains objectives other than these two...

by Wasim Shahid Malik | On 15 Feb 2016

Stock Market Reaction to Catastrophic Shock: Evidence from Listed Pakistani Firms

This study examines the effect of the earthquake of October 8, 2005 on the price behaviour and activities of Karachi Stock Exchange (KSE). Sixty firms are selected from those listed on Karachi Stock E...

by Attiya Y. Javid | On 15 Feb 2016

On the Communication Policy of the Bangladesh Bank

The current thinking on the subject of the central bank communication policy centres squarely on the transparency with which the bank conveys its beliefs on the evolving pattern of macroeconomic funda...

by Bangladesh Bank BB | On 15 Feb 2016

Notes on the Monetary Policy Strategy of the Bangladesh Bank

This document is designed to present a brief but comprehensive view of the real and monetary developments during the immediate past quarters and project the expected developments in the immediate futu...

by Bangladesh Bank BB | On 15 Feb 2016

Monetary Transmission through Bank Portfolio in Bangladesh

This paper examines whether monetary policy transmits through bank assets or liabilities or both. This is an important policy issue since in order to know the effectiveness of monetary policy it is ne...

by Sayera Younus | On 15 Feb 2016

Future Prospects of Bangladesh’s Ready-Made Garments Industry and the Supportive Policy Regime

Emergence of the global market has heightened the role of trade in world economy and made industrialization as an integral system of global trade and production. Bangladesh economy at present is more...

by Md. Nehal Ahmed | On 15 Feb 2016

Recent Experiences in the Foreign Exchange and Money Markets

This paper attempts to analyze the underlying causes and impact of the recent developments in the foreign exchange and money markets.

by Md. Habibur Rahman | On 15 Feb 2016

Inflation in Bangladesh: Supply Side Perspectives

This policy note is an exploratory attempt to verify the popular argument that cost side factors are no less contributory than demand side factors in stimulating inflation in the Bangladesh economy. T...

by Md. Alauddin Majumder | On 15 Feb 2016

Monetary Policy and Capital Market Development in Bangladesh

Bangladesh Bank (BB) adjusted its monetary policy stance during 2005 in order to contain inflationary pressures and facilitate stability in the foreign exchange market. At the end of 2005, interest ra...

by Shubhasish Barua | On 15 Feb 2016

Bilateral J-Curves between Pakistan and Her Trading Partners

Earlier studies that investigated the J-Curve phenomenon for Pakistan employed aggregate trade data. These studies suffered from the “aggregation bias” problem. In order to overcome this constraint, t...

by Zehra Aftab | On 14 Feb 2016

The Conditional Capital Asset Pricing Model:- Evidence from Karachi Stock Exchange

This is an attempt to empirically investigate the risk and return relationship of individual stocks traded at Karachi Stock Exchange (KSE), the main equity market in Pakistan. The analysis is based on...

by Attiya Y. Javid | On 14 Feb 2016

Test of Multi-moment Capital Asset Pricing Model: Evidence from Karachi Stock Exchange

This study examines the Capital Asset Pricing Model of Sharpe (1964) Lintner (1965) and Black (1972) as the benchmark model in the asset pricing theory. The empirical findings indicate that the Sharpe...

by Attiya Y. Javid | On 14 Feb 2016

Corruption and Sport: Building Integrity and Preventing Abuses

Whenever there is money, competition or power involved, corruption is a constant threat. The sporting industry is not immune from this reality. From match-fixing to stadium construction kickbacks, the...

by Transparency International TI | On 13 Feb 2016

Youth and Corruption

Integrity, like corruption, is learned. Unfortunately, in many countries corruption has been tolerated for generations. Young people have the potential to transform this present reality and end corrup...

by Transparency International TI | On 12 Feb 2016

The February 13 Agreement: A New Dawn for North Korea’s Denuclearization?

The aim of this paper is to analyze the February 13 Agreement’s implementation along with the prospects for the denuclearization of North Korea. The paper starts with an overview of North Korea’s comp...

by | On 09 Feb 2016

Save and Grow in practice: maize, rice, wheat

FAO’s best-selling 2011 publication, Save and Grow, proposed a new paradigm of agriculture, one that is both highly productive and environmentally sustainable. This new book looks at the application o...

by Food and Agricultural Organization [FAO] | On 08 Feb 2016

Crowding Out in the Labour Market: Do Employers Lend a Hand?

We test the basic assumption underlying the job competition and crowding out a hypothesis: that employers always prefer higher educated to lower educated individuals. To this end, we conduct a randomi...

by Dieter Verhaest | On 07 Feb 2016

How Soon Is Now? Evidence of Present Bias from Convex Time Budget Experiments

Empirically observed intertemporal choices about money have long been thought to exhibit present bias, i.e. higher short-term compared to long-term discount rates. Recently, this view has been called...

by Uttara Balakrishnan | On 07 Feb 2016

Can Welfare Conditionality Combat High School Dropout?

Based on administrative data, we analyze empirically the effects of stricter conditionality for social assistance receipt on welfare dependency and high school completion rates among Norwegian youths....

by Øystein Hernæs | On 07 Feb 2016

Higher Education Expansion and Labor Market Outcomes for Young College Graduates

We examine the causal impact of China's higher education expansion on labor market outcomes for young college graduates using China's 2005 1% Population Sample Survey. Exploiting variation in the expa...

by Dongshu Ou | On 07 Feb 2016

Local Labor Market Conditions and Crime: Evidence from the Brazilian Trade Liberalization

This paper estimates the effect of local labor market conditions on crime in a developing country with high crime rates. Contrary to the previous literature, which has focused exclusively on developed...

by Rafael Dix-Carneiro | On 07 Feb 2016

Capital Inflows, Inflation and Exchange Rate Volatility: An Investigation for Linear and Nonlinear Causal Linkages

In this study, an investigation of the effects of capital inflows on domestic price level, monetary expansion and exchange rate volatility. To proceed with this, linear and nonlinear cointegration and...

by Abdul Rashid | On 06 Feb 2016

Price Setting Behaviour of Pakistani Firms: Evidence from Four Industrial Cities of Punjab

Since the introduction of rational expectations in the literature, most of the research focus in the area of macroeconomics has been investigating micro foundations of macroeconomic theory and transmi...

by Wasim Shahid Malik | On 06 Feb 2016

A Dynamic Macroeconometric Model of Pakistan’s Economy

In this study, an attempt has been made of develop a dynamic macroeconometric model of Pakistan’s economy to examine the behaviour of major macroeconomic variables such as output, consumption, investm...

by Muhammad Arshad Khan | On 06 Feb 2016

Foreign Aid and Growth Nexus in Pakistan: The Role of Macroeconomic Policies

Despite receiving large quantities of foreign aid, Pakistan, like many other developing countries, has remained stagnant and become more aid dependent. This grim reality has provoked a vigorous debate...

by Muhammad Javid | On 06 Feb 2016

The Determinants of Food Prices: A Case Study of Pakistan

Controlling prices is one of the major tasks for the macroeconomic policy-makers. The recent oil price hike that shifted the policy towards biofuels and some natural calamities increased food prices a...

by Henna Ahsan | On 06 Feb 2016

Market Imperfections and Dividend Policy Decisions ofManufacturing Sector of Pakistan

Dividend policy is an important issue of corporate finance and the present study examines the effect of market imperfections such as asymmetric information, agency costs and transaction cost of issuin...

by Darakhshan Younis | On 03 Feb 2016

Liquidity Benefits from Underpricing: Evidence from Initial Public Offerings Listed at Karachi Stock Exchange

This study explains the underpricing phenomenon through the relationship of underpricing (initial returns), ownership structure and aftermarket liquidity empirically by using cross-sectional data of 5...

by Malik Muhammad Shehr Yar | On 03 Feb 2016

Dynamic Relationship and Volatility Spillover between the Stock Market and the Foreign Exchange Market in Pakistan: Evidence from VAR-EGARCH Modelling

The paper examines the dynamic relationship and volatility spillovers between the stock market and the foreign exchange market in Pakistan using weekly data from 02 July, 1997 to 04 July 2012. Johanse...

by Abdul Qayyum | On 03 Feb 2016

The Global Financial Crisis and Investors' Behaviour: Evidence from the Karachi Stock Exchange

The present study empirically examines the short term under and overreaction effect in the Karachi Stock Exchange, Pakistan, in the context of the 2008 Global Financial Crisis considering the period f...

by Asiya Sohail | On 03 Feb 2016

An Analysis of Accrual Anomaly in Case of Karachi Stock Exchange

This study investigates the existence of accrual anomaly by using a sample of 340 non-financial firms listed at Karachi Stock Exchange. The objective of the study is to examine the persistence of th...

by Jawad Mohammad | On 03 Feb 2016

Employment Strategy and Equitable Growth: A Social Capital Perspective for KPK

Although labour force participation in Pakistan has improved from 50.33 percent in 2006-07 to 57.24 percent in 2010-111 as well as employment has increased from 47.65 million to 53.84 million, however...

by Syed Akther Shah | On 02 Feb 2016

Pakistan: The Impact of Economic Liberalisation on Poverty

The reform program that Pakistan gradually implemented during the 1980s and the early 1990s dismantled many of the components of the ISI strategy.1 The extent of dependence on quantitative import cont...

by Zafar Mahmood | On 02 Feb 2016

Towards a Framework for Achieving Food Security in the Mountains of Pakistan

The agriculture sector in Pakistan sustains the livelihoods of 45 per cent of the national population. Both the direct and indirect contributions of the agriculture sector to overall growth and wellbe...

by Golam Rasul | On 02 Feb 2016

Trade Policy and Manufacturing Performance: Exploring the Level of Trade Openness in India’s Organized Manufacturing in the Period 1990-2010

This study presents industry-level evidence regarding the connection between trade policy reforms and manufacturing performance. It contributes to the existing literature in several respects. The stu...

by Deb Kusum Das | On 02 Feb 2016

Reviving the Local Dialect in Qatar: An Issue of Linguistic Concern or Identity Politics?

Historically, Qataris have strived for autonomy and independence, and have always sought to define themselves apart from others. This has dictated a specifically defined identity in which language sta...

by | On 01 Feb 2016

Financial Reforms - Past and Present

Industrial countries are still struggling, with a few exceptions, to grow. Our fellow BRICS all have deep problems, with confidence about China waxing and waning. India appears to be better in this l...

by Raghuram G. Rajan | On 01 Feb 2016

Employment Exchanges

Data about employment exchanges, how they function and suggestions for improvement are given here.

by Aarti Salve | On 01 Feb 2016

A Truly Green Agricultural Revolution is Needed

The recent food price spikes have exposed deep structural flaws in the world food system. Although increased financial speculation in commodity futures and options markets seems to have amplified shor...

by United Nations Department of Economic and Social Affairs | On 31 Jan 2016

Public Expenditure, Employment and Poverty in Bangladesh An Empirical Analysis

The present paper titled Public Expenditure, Employment and Poverty in Bangladesh An Empirical Analysis has been prepared under the CPD-UNDP collaboration programme on Pro-Poor Macroeconomic Policies...

by Centre for Policy Dialogue CPD | On 29 Jan 2016

Poverty-Environment Nexus An Investigation of Linkage and Policy Implications

The present paper titled Poverty-Environment Nexus: An Investigation of Linkage and Policy Implications has been prepared under the CPD-UNDP collaboration programme on Pro-Poor Macroeconomic Policies...

by Centre for Policy Dialogue CPD | On 29 Jan 2016

An Analysis of Pegged Exchange Rate Between Bhutan and India

This paper analyzes the applicability of the theory of optimum currency area to the pegged exchange rate regime between Bhutan and India. Most of the optimum currency criteria hold true for Bhutan and...

by Karma Galey | On 29 Jan 2016

Challenges and Trends in Decentralised Local Governance in Bangladesh

Bangladesh has a rich legacy of establishing and promoting local government institutions, but the actual roles and contributions of these institutions to augment citizens’ participation and consolidat...

by Niaz Khan | On 29 Jan 2016

Hard Law and ‘Soft Law’: Options for Fostering International Cooperation

Substantial literature has emerged in the past two decades on the meaning of “soft law”, its purposes, and its consequences for effective international cooperation. This paper argues that the distinct...

by | On 28 Jan 2016

Glacier Systems and Seasonal Snow Cover in Six Major Asian River Basins: Water Storage Properties under Changing Climate

The publications in this series cover a wide range of subjects—from computer modeling to experience with water user associations—and vary in content from directly applicable research to more basic stu...

by Vladimir Smakhtin | On 28 Jan 2016

Enhancing Coherence and Inclusiveness in the Global Trading System in the Era of Regionalism

Over the past two decades, regional trade agreements (RTAs) have proliferated alongside the WTO system, involving a wide variety of agreements. In the absence of significant progress on the multilater...

by | On 28 Jan 2016

The Functioning of the WTO: Options for Reform and Enhanced Performance

The multilateral rules-based trading system has been crucial in helping states to cooperate and gradually open up borders to encourage trade and investment for development. It has contributed to tempe...

by | On 28 Jan 2016

The Microfinance Bill: Need for a Fresh Outlook

This policy paper presents the past efforts of regulating the Microfinance sector, analyses the merits and demerits of various attempts beginning from the report of the Task Force1 in 1999 and present...

by | On 27 Jan 2016

Overcoming Challenges to Accelerating Linear Growth in Indian Children

Early childhood stunting or linear growth retardation predicts poor human capital. While stunting rates in India are unacceptably high, the decline in stunting over the past decades demonstrates that...

by Harshpal Singh Sachdev | On 26 Jan 2016

The Telangana Turmoil: Apprehensions and Hope

The paper addresses the apprehensions relating to state bifurcation among people of different regions in the state and the country. The paper argues that a new state can not be a threat either to the...

by Madhusudan Bandi | On 26 Jan 2016

Does Exchange Rate Intervention Trigger Volatility?

This study aims at investigating two important issues concerning the exchange rate intervention policy of the Reserve Bank of India: (1) whether there is any asymmetry in intervention; and (2) whether...

by M. Ramachandran | On 24 Jan 2016

External Shocks

After the global financial crisis, India was exposed to many external shocks from commodity prices and foreign capital flows. Although capital flow fluctuations were largely due to global risk-on risk...

by Ashima Goyal | On 24 Jan 2016

Public Debt Sustainability in Bangladesh

This policy note reviews the trend in debt composition and sources of debt financing and analyzes debt sustainability of Bangladesh. Along with historical data on level of debt and sources of financin...

by Md. Ezazul Islam | On 23 Jan 2016

Interest Rates and the Demand for Money in Bangladesh: An Empirical Investigation with Quarterly Data, 1997Q4-2006Q4

This paper investigates the sensitivity of money demand to interest rates on treasury bills in Bangladesh with quarterly data for the period 1997Q4-2006Q4. A standard demand for money function is spec...

by Akhand Akhtar Hossain | On 23 Jan 2016

Volatility of Stock Return in the Dhaka Stock Exchange

This note examines the volatility in stock prices in the Dhaka Stock Exchange (DSE) during 2003- 2007. Excessive volatility and fluctuations in stock price fail to provide the correct signal on compan...

by Md. Habibour Rahman | On 23 Jan 2016

Inflation Accounting Across Income Groups: Does Inflation Hurt the Poor More in Bangladesh?

This note provides estimates of the contribution of food prices to inflation in Bangladesh. The results suggest that the current inflation takes a bigger toll on the poor because they spend more of th...

by M. Golam Mortaza | On 23 Jan 2016

Estimating Inflation Rates of Import-Concentrated Commodities

This note provides estimates of inflation rate of import-concentrated commodities and their contribution to overall inflation in Bangladesh. The results suggest that the Bangladesh economy has been ex...

by M. G. Mortaza | On 23 Jan 2016

A Quick Analysis of Deposit Interest Rates Offered by Commercial Banks

The main purpose of the survey is to collect data on the extent of the mis-reporting of deposit interest rates, as accurate data is essential for effective financial and monetary policy.

by Md. Ezazul Islam | On 23 Jan 2016

India and the BRICS Partnership

India and its partners – Brazil, China, Russia and South Africa – in the BRICS forum have launched the New Development Bank. With the leaders of these countries, who recently met at Ufa in Russia, dis...

by | On 23 Jan 2016

Climate Change, Food Security and Trade Linkages in South Asia

This Briefing Paper examines the linkages between climate change, food security and trade in South Asia. Studies suggest that in Asia the heat stress due to climate change will reduce crop yields in t...

by Ram Jha | On 23 Jan 2016

Trend and Characteristics of Recent Inflation in Bangladesh

In the backdrop of recent global developments, this note examines some of the characteristics of inflation in Bangladesh including the contribution of major commodity groups to overall inflation in ru...

by Bangladesh Bank | On 23 Jan 2016

PDS ‘To Go’? ‘Portability’ of Rights through Real-time Monitoring: the Centralised Online Real-time Electronic PDS in Chhattisgarh, India

Information and communications technology (ICT)-based reforms are increasingly being used to improve the delivery of public services. The main question which the research reported here addressed is th...

by Anuradha Joshi | On 23 Jan 2016

East Asia in 2015

The future political landscape of Asia-Pacific would largely be decided, arguably, by happenings in the East Asian region. It is so because in East Asia, the interests of three important players of wo...

by Sandip Kumar Mishra | On 23 Jan 2016

Modeling Interest Rate Cycles in India

The present study tries to examine the behaviour of various Indian interest rates such as call money rate, and yields on secondary market securities with maturity periods of 15 to 91 days, 1-year, 5-y...

by B B Bhattacharya | On 22 Jan 2016

India and APEC An Appraisal

This Study surveys the progress that APEC has made towards promoting regional economic cooperation and integration. It examines the desirability of India joining APEC and looks at possible benefits an...

by V. S. Seshadri | On 21 Jan 2016

The Growth-Employment Relationship Since 2000

This discussion paper is a brief assessment of the employment challenge that become manifest in the Indian economy during the past decade. It analyses various available economic indicators and present...

by Shipra Nigam | On 21 Jan 2016

Neoliberal Development Macroeconomics: A Consideration of its Gendered Employment Effects

This paper expands on this contention, reviewing the primarily empirical research on the employment impacts of the macroeconomic policy environment, with a particular focus on women’s employment whene...

by | On 19 Jan 2016

Does Clientelism Work? A Test Of Guessability In India

Research on clientelism broadly assumes that local political agents, or brokers, possess fine-grained information on voters’ political preferences, and often can directly or indirectly monitor their v...

by Mark Schneider | On 18 Jan 2016

Health Service Inequities as Challenge to Health Security

The paper provides an overview of the inequities in health outcomes and their variation across regional, social, and economic groups. It seeks to explain these variations by focusing on health service...

by | On 18 Jan 2016

Transfer Behaviour in Migrant Sending Communities

We study how international migration changes the private transfers made between households in the migrant sending communities of developing countries. A priori, it is indeterminate whether migration a...

by | On 15 Jan 2016

Rebalancing Growth in Asia

Rebalancing growth patterns of Asian economies is an important component of the overall rebalancing effort that will be required in the world economy. In this paper, I provide an empirical characteriz...

by Eswar S. Prasad | On 15 Jan 2016

Gender Sensitivity In Disaster Management

It lies at the intersection of two major challenges: disaster, experienced by many of the rural poor as drought, flood and storms; and the continuing issue of gender imbalances in many aspects of soci...

by Janet Robinson | On 14 Jan 2016

The Imprudence of Labour Market Flexibilization in a Fiscally Austere World

This paper assesses the effects of combining fiscal austerity with flexibilization policies aimed at reducing labour costs and increasing competitiveness. Core to our analysis is a global perspective...

by | On 11 Jan 2016

Transmission of Volatility of Money Market Overnight Repo Rate along the Yield Curve in Pakistan

This paper presents the empirical results of the volatility transmission of money market overnight repo rate along the yield curve in Pakistan. The results indicate that the transmission of volatilit...

by Asif Mahmood | On 11 Jan 2016

Trade and Development Report 2007

The Trade and Development Report 2007, subtitled "Regional cooperation for development", recommends that developing countries should strengthen regional cooperation with other developing countries, bu...

by United Nations Conference on Trade and Development UNCTAD | On 09 Jan 2016

Patterns and Politics of Migration in South Asia

Migration is an important social and historical reality in South Asia. In the past decade, migration from one country to another and internal migration (i.e. migration within a particular country) hav...

by Sanjay Barbora | On 08 Jan 2016

Prevention and Resolution of Foreign Exchange Crises in East Asia

This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies...

by Andrew Cooper | On 07 Jan 2016

New Measures of the Trilemma Hypothesis: Implications for Asia

The authors develop a new set of indexes of exchange rate stability, monetary policy independence, and financial market openness as the metrics for the trilemma hypothesis. In their exploration, they...

by Masahiro Kawai | On 07 Jan 2016

Cross-Border Price Differentials and Goods Market Integration in East Asia

As cross-border movements of goods, capital, and labor are intensifying, it is likely that goods markets in East Asia will become increasingly integrated. This study investigates the current state of...

by Woosik Moon | On 07 Jan 2016

Banking Crises and 'Japanization': Origins and Implications

Japan’s “two lost decades” perhaps represent an extreme example of a weak recovery from a financial crisis, and are now referred to as “Japanization.” More recently, widespread stagnation in advanced...

by Masahiro Kawai | On 07 Jan 2016

Plan vs. Performance: Winter Session 2015

This note compares the legislative business planned by Parliament and compares it with the actual performance, during the Winter Session 2015.

by Kusum Malik | On 05 Jan 2016

Nepal Business Climate Survey

This is a perception survey of business owners and operators in four districts of Nepal. The survey provides a snapshot of prevailing state of business environment in Nepal and identifies most critica...

by Bal Khadka | On 02 Jan 2016

The Cost of Moving Goods

Road Transportation, Regulations and Charges in Indonesia. To assess the size and nature of domestic road transportation costs, The Asia Foundation, in partnership with the University of Indonesia's I...

by The Asia Foundation | On 02 Jan 2016

Managing Capital Flows in Asia: An Overview of Key Issues

Global capital flows into emerging markets, including those in Asia, continue to be volatile, generating both benefits and costs. The latter are associated with episodes of currency and banking crises...

by Ramón López | On 01 Jan 2016

Public Debt Sustainability in Developing Asia: An Update

The paper updates debt sustainability analysis (DSA) for developing Asia, conducted in 2011. With the benefit of hindsight, the accuracy of the earlier debt ratio forecasts and underlying macroeconomi...

by Benno Ferrarini | On 29 Dec 2015

Response of Stock Markets to Monetary Policy: An Asian Stock Market Perspective

We estimate the response of Asian stock market prices to exogenous monetary policy shocks using a vector error correction model. In our paper, monetary policy transmits to stock market price through t...

by Farzana Sehrin | On 29 Dec 2015

Economic Crises and Women’s Work: Exploring Progressive Strategies in a Rapidly Changing Global Environment

This paper examines issues of women’s employment and decent work in the context of the on-going global financial and economic crisis. Recognizing that financial and economic crises affect men and wome...

by UN Women | On 28 Dec 2015

Fiscal Decentralization And Tax Incentives In The Developing world

Many developing countries use tax incentives to attract foreign direct investment, sacrificing immediate revenue from foreign capital, even though the effects of tax incentives on investment, growth,...

by Quan Li | On 23 Dec 2015

c-section epidemic

How can we explain the exponential increase of the cesarean section in the U.S. in recent decades? Drawing from 130 in-depth interviews with women, obstetricians, midwives, and labor and delivery nurs...

by theresa morris | On 21 Dec 2015

Study on Conditions and Needs of Women Workers in Delhi

Study on the needs and conditions of women workers in Delhi must begin its enquiry with the initial problem of poor availability of employment or access to economic activity/work for women in the cap...

by Neetha N | On 21 Dec 2015

Real Exchange Rate and its Impact on Export, Import and Trade Balance: Is There any J Curve Effect in Bangladesh?

The intention of this paper is to examine whether Real Exchange Rate (RER)depreciation has any impact on export, import and trade balance of Bangladesh. Real exchange rate is calculated using Tk./do...

by Maidul Chowdhury | On 19 Dec 2015

Exchange Rate Reform in South Sudan

This paper considers the role of the exchange rate in the economy and its importance as a macroeconomic instrument, and outlines the policy choices that are available to governments in general, and th...

by Keith Jefferis | On 18 Dec 2015

Reserve Accumulation and Sterilized Intervention in the Foreign Exchange Market in Bangladesh: An Empirical analysis

The main intention of the paper is to investigate the extent of sterilization of Bangladesh Bank to offset the monetary expansionary effect of reserve accumulation in the foreign exchange market. To...

by Mst. Nurnaher Begum | On 18 Dec 2015

External Sector Openness Management: The Bangladesh Experience

Bangladesh has had impressive growth in exports, remittances and foreign exchange reserve in recent year. By analyzing the liberalizing regime from 1979 to this date by adopting a comprehensive approa...

by Abdul Wahab | On 18 Dec 2015

Does the Rise of Middle Class Lock in Good Government in the Developing World?

The current size of the income-secure middle class and its likely future growth, suggest that optimism is indeed warranted for many of today’s middle-income countries. But it is not warranted for all...

by Nancy Birdsall | On 14 Dec 2015

A Behaviour-based Approach to the Estimation of Poverty in India

Almost a sixth of the world’s population and a large fraction of its poorest people live in India. Until recently, national poverty estimates were widely criticized because they relied on aggregate pr...

by | On 02 Dec 2015

India Approaches Replacement Fertility

This Population Bulletin updates a previous Bulletin from 2006, India's Population Reality: Reconciling Change and Tradition. India's population (currently at 1.3 billion) will exceed China's before 2...

by O.P. Sharma | On 18 Nov 2015

Fiscal Seigniorage “Laffer-curve effect” on Central Bank Autonomy in India

It is often emphasised that seigniorage financing of public sector deficits is technically a “free lunch” if the economy has not attained the full employment levels. However, conservative macroecono...

by Lekha S. Chakraborty | On 16 Nov 2015

Meta - Study of Literature on Budget Private Schools in India

Despite lack of infrastructure and facilities, studies over the past decade has shown that learning outcomes in these schools are equal to or better than those of far more resourcefu...

by Centre for Civil Society CCS | On 29 Oct 2015

Policy Tradeoffs in an Open Economy and the Role of G-20 in Global Macroeconomic Policy Coordination

In this paper the aim is to investigate the different nuances of India's capital account management through empirical analyses as well as descriptive discussions. In particular the study the evolution...

by Rajeswari Sengupta | On 19 Oct 2015

India’s FTA with East Asia: Impact of India-Malaysia CECA on the Edible Oil Value Chain

This paper formulates an analytical framework to assess the impacts of India's Free Trade Agreements (FTAs) on commodity value chains. This paper views such methodology as reductionist, and instead of...

by | On 15 Oct 2015

Eleventh Five Year Plan (2007–2012) Social Sector

The Eleventh Plan places the highest priority on education as a central instrument for achieving rapid and inclusive growth. It presents a comprehensive strategy for strengthening the education secto...

by Planning Commission, India | On 09 Oct 2015

A Darwinian Perspective on “Exchange Rate Undervaluation”

This paper studies how status competition for marriage partners can generate surprising effects on the real exchange rate (RER). In theory, a rise in the sex ratio (increasing relative surplus of men)...

by Qingyuan Du | On 08 Oct 2015

Now for the Reality Play

What the government needs to do, perhaps, is to spell out an action agenda for the next four months, in the run-up to the 2016 Budget.

by T.N. Ninan | On 02 Oct 2015

Public Good Provision in Indian Rural Areas: The Returns to Collective Action by Microfinance Groups

Self-help groups (SHGs) are the most common form of microfinance in India. The authors provide evidence that SHGs, composed of women only, undertake collective actions for the provision of public good...

by | On 01 Oct 2015

Finances for Health in India: Are New Sources the Way to Go?

The Government of India has proposed the National Health Assurance Mission (NHAM) to move the country rapidly towards universal health coverage (UHC), by providing all citizens with specified drugs, d...

by Indrani Gupta | On 30 Sep 2015

Present State of Goods and Services Tax (GST) Reform in India

There are several challenges before introduction of GST and these can be classified into two broad heads – a) GST Design and Structure related, and b) GST Administration and Institutional. On design r...

by Sacchidananda Mukherjee | On 24 Sep 2015

Book Review: Universal Man: The Seven Lives of John Maynard Keynes

Review of Universal Man: The Seven Lives of John Maynard Keynes by Richard Davenport-Hines. New York: Basic Books, 2015. 418 pp. Rs. 1,729/- (cloth), IISBN-13: 978-0007519804.

by John Graham | On 23 Sep 2015

Report of the Working Group on Public Distribution System and Food Security for the Tenth Five Year Plan (2002-2007)

This planning commission report on Food Security deals with the changing consumption pattern for food in India and reviews some studies on demand and supply projections for cereals in India. It also e...

by Planning Commission | On 21 Sep 2015

Steel's a Steal

Steel is a basic input for the entire engineering industry (cars, household goods, machinery of all kinds), and for the infrastructure sector (roads, railways, power, real estate, etc). Raise the cost...

by T.N. Ninan | On 12 Sep 2015

A Policy Mix for Gender Equality? Lessons from High-Income Countries

Over the past 15 years, important gains have been made in gender equality. Gender gaps in educational attainment have shrunk substantially. In fact, in many high-income countries, young women’s educat...

by Megan Gerecke | On 31 Aug 2015

Global Wage Report 2014/15: Wages and Income Inequality

The Global Wage Report 2014/15 presents both the latest trends in average wages and an analysis of the role of wages in income inequality. The first part of the report shows that global wage growth in...

by International Labour Organisation ILO | On 26 Aug 2015

Poverty Reduction in China and India: Policy Implications of Recent Trends

This paper compares the experience of poverty reduction in China and India. It finds that more than economic growth per se, what has mattered crucially is the nature of the growth: whether it is assoc...

by Jayati Ghosh | On 21 Aug 2015

Book Review: Visions of Dystopia in China's New Historical Novels

Review of Visions of Dystopia in China's New Historical Novels. New York: Columbia University Press, 2014. 304 pp. $50.00 (cloth), ISBN 978-0-231-16768-0.

by Nathaniel Isaacson | On 13 Aug 2015

Reduction of GHG Emissions and Attainment of Energy Security through Sustainable Production of Biofuels: Is it a Viable Option? A Review of Experinces

The National Policy on Biofuels sets an indicative target of 20per cent blending of biofuels by 2017 to tackle the twin problem of energy security and climate change. Although biofuels seem to be the...

by Gopinath Reddy | On 13 Aug 2015

Results from the Perception and Attitudes Towards Ageing and Seniors Survey ( 2013/2014)

In this paper the results are documented which derived from the Perception and Attitudes towards Ageing and seniors (PATAS) survey completed in early 2014. These results delve into respondents beliefs...

by Mathew Mathews | On 11 Aug 2015

Inflation Targeting for India?: The Implications of Limited Asset Market Participation

This paper considers the implications of an imperfect monetary transmission mechanism for optimal monetary policy choices in an open economy. The asset market channel is restricted in this paper as so...

by | On 11 Aug 2015

Equilibrium Exchange Rate Estimation for Taka – A Co integration Analysis

This paper is an attempt to know the equilibrium exchange rate of Taka to measure exchange rate misalignment. To estimate the equilibrium real exchange rate we use macroeconomic balance approach, wh...

by Md. Akhtaruzzaman | On 11 Aug 2015

Myanmar: Unlocking the Potential - A Strategy for High, Sustained, and Inclusive Growth

Recognizing the need to formulate policy strategies for the changes it faces, Myanmar started a multifaceted reform process in 2011. But speeding up development requires a multipronged but more cohere...

by | On 04 Aug 2015

Impact of Trilemma Indicators on Macroeconomic Policy: Does Central Bank Independence Matter?

For a sample of 42 high and middle income countries analyzed over a period of 30 years ranging from 1982 till 2011, this paper shows that while an efficient trilemma policy choice can help lower inf...

by | On 31 Jul 2015

Inflation Targeting for India? The Implications of Limited Asset Market Participation

This paper considers the implications of an imperfect monetary transmission mechanism for optimal monetary policy choices in an open economy. The asset market channel is restricted in this paper as so...

by | On 09 Jul 2015

Women and Work in South Asia: Changes and Challenges

This paper examines a number of questions that have a bearing on women’s employment in South Asia. The characteristic features of the region such as the predominantly rural, agrarian economy; patriarc...

by | On 04 Jun 2015

Second Bi-monthly Monetary Policy Statement, 2015-16

On the basis of an assessment of the current and evolving macroeconomic situation the statement suggest that the global recovery is still slow and getting increasingly differentiated across regions.

by Raghuram G. Rajan | On 03 Jun 2015

Understanding Poverty in India

Inclusive growth needs to be achieved to reduce poverty and other disparities and raise economic growth. This book develops a poverty profile for India in view of the ongoing national and global effor...

by Asian Development Bank Institute | On 08 May 2015

Infrastructure Gap in South Asia: Infrastructure Needs, Prioritization, and Financing

If the South Asia region hopes to meet its development goals and not risk slowing down or even halting growth, poverty alleviation, and shared prosperity, it is essential to make closing its huge infr...

by World Bank | On 27 Apr 2015

Realizing Sustainable Food Security in the Post-2015 Development Era: South Asia’s Progress, Challenges and Opportunities

This paper reviews South Asia’s progress, challenges and opportunities for realizing sustainable food security in the post-2015 development agenda. The review finds that South Asia’s average dietary e...

by | On 14 Apr 2015

The Impossible Trinity: Where does India stand?

A comprehensive overview of a few empirical studies is presented that have explored the issue of Trilemma in the Indian context. Based on these studies an analysis is done on how have Indian policy ma...

by Satish Y Deodhar | On 30 Mar 2015

Investing in Health for Economic Development in Vietnam

This report present the findings from a mission undertaken by the authors in Vietnam in 2005. This report provides some of the particular aspects of the health sector from an economic perspective. It...

by | On 24 Mar 2015

Finance Commission of India’s Assessments: A Political Economy Contention between Expectations and Outcomes

The objective of this study is to examine the structural basis on which Finance Commissions make their awards rather than examining the predictability of the forecasts. The story of Finance Commission...

by | On 12 Mar 2015

Global Imbalances and Bretton Woods II Postulate

The paper intends to revisit this argument, particularly in the light of the change in deficits and surpluses in the world economy. The paper tries to trace the genesis of BWII to the debates which or...

by Krishnakumar S | On 10 Mar 2015

Democracy, Inclusion, and Prosperity

People want to live in a safe prosperous country where they enjoy freedom of thought and action, and where they can exercise their democratic rights to choose their government. But how do countries en...

by Raghuram G. Rajan | On 24 Feb 2015

Financial Access - Measurement and Determinants: A Case Study of Unorganised Manufacturing Enterprises in India

This paper attempts to study financial access of unorganized manufacturing enterprises in India given their importance to the economy and the fact that finance has been the main constraint on their gr...

by T.A. Bhavani | On 09 Feb 2015

Global Economic Prospects

The report argues the recent setback in global economy and ways to strengthen the growth in developing countries. with a view to undertake growth and recovery in high-income countries, there is need t...

by World Bank | On 14 Jan 2015

Designing Policies in the Presence of Hawala Markets

The paper explores the impact of the existence of such a mechanism on the effectiveness of various policy instruments in influencing outcomes on the official foreign exchange markets and GDP. The pape...

by R.Kavita Rao | On 13 Jan 2015

Impact of Public Spending on Health and Education of Children in India: A Panel Data Simultaneous Equation Model

The basic objective of the study is to examine the impact of public expenditure on health and education after incorporating the linkages between health status of children and their educational achiev...

by Runu Bhatka | On 12 Dec 2014

Dietary Intake and Rural-Urban Migration in India: A Cross-Sectional Study

Migration from rural areas of India contributes to urbanisation and lifestyle change, and dietary changes may increase the risk of obesity and chronic diseases. It tests the hypothesis that rural-to-u...

by Shah Ebrahim | On 02 Dec 2014

Multidimensional Poverty and Child Survival in India

Though the concept of multidimensional poverty has been acknowledged cutting across the disciplines (among economists, public health professionals, development thinkers, social scientists, policy make...

by Sanjay K. Mohanty | On 02 Dec 2014

Mortality Burden and Socioeconomic Status in India

The dimensions along which mortality is patterned in India remains unclear. We examined the specific contribution of social castes, household income, assets, and monthly per capita consumption to mort...

by Y. T. Po June | On 07 Nov 2014

Spillover Effects of Exchange Rates: A Study of the Renminbi

This paper estimates the impact of China’s exchange rate changes on exports of competitor countries in third markets, which is called as the “spillover effect. Recent theory is used to develop an id...

by Aaditya Mattoo | On 29 Oct 2014

Ozone-smart, climate-cool

HFC has been a bugbear in the India-US relationship. One item on the agenda of the much-discussed Narendra Modi-Barack Obama meeting that has Indian commentators flummoxed is hydrofluorocarbons (HFCs)...

by Sunita Narain | On 29 Oct 2014

Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization

Two aspects of global imbalances - undervalued exchange rates and sovereign wealth funds - require a multilateral response. This paper proposes new rules in the World Trade Organization to discipline...

by Prachi Mishra | On 22 Oct 2014

What Undermines Aid’s Impact on Growth?

Why it is so hard to find a robust effect of aid on the long-term growth of poor countries, even those with good policies. A possible offset to the beneficial effects of aid is examined using a meth...

by Raghuram G. Rajan | On 20 Oct 2014

Causes of Indian Rupee Depreciation and its Impact on Bangladesh Economy

The intention of this paper is to examine the impact of Indian Rupee depreciation on Bangladesh Economy. The empirical results obtained from OLS for the sample period from 2007:10 to 2013:10 show tha...

by Sayera Younus | On 25 Sep 2014

A Handbook of Statistical Indicators of Indian Women

The Handbook is intended to provide a bird's eye view of the present status of Indian women. The various tables indicate the primary data sources and the key facts are presented in bullet points at th...

by Government of India Ministry of Women and Child Development | On 15 Sep 2014

State of Literacy among Adolescents and Youth Population

Gives an overall view about the literacy rates of youth and adolescents in India.

by A.K. Samal | On 06 Sep 2014

Real Estate and Hosing-A Sensitive Sector or Samvriddhi Sector ?

The speech shows the investment government has done for the housing and real estate sector. There are recommendations on how the sector can be improved.

by R. Gandhi | On 22 Aug 2014

Union Budget 2014: Marginal Realignment of Tactics to Strategy

The article examines the restructuring of expenditure in the first budget of the new government, and its feasibility. It compares the increase in budget allocations for key macroeconomic aggregates a...

by Ashima Goyal | On 21 Jul 2014

India's Public Distribution System: A National and International Perspective

This study examines the impact of India's Public Distribution System (PDS) on poor households in terms of income gains, reductions in the incidence and severity of poverty, as well as nutritional impr...

by R. Radhakrishna | On 07 Jul 2014

Determinants for the Demand and Supply of Texile Exports of Pakistan

This study analyses the demand and supply side determinants of textile and garments’ exports of Pakistan using time series data for the period 1972– 2010. Eight trading partners (US, UK, Canada, It...

by Rabia Latif | On 01 Jul 2014

The World’s Youth – Data Sheet 2013

The Population Reference Bureau factsheet presents various facts about young people across the world. Some of the data refers to teenage pregnancy, childbirth, prevalence of child marriage in the worl...

by PRB Population Reference Bureau | On 17 Jun 2014

Debating Poverty

The first of a series of eSSays dossiers on issues of public concern. Guest editor: M.H. Suryanarayana. Contents: Poverty Line: Pursuit of an Elusive Minimum by M.H. Suryanarayana Fixing Poverty...

by eSocialSciences eSS | On 08 Mar 2014

Banks Competition, Managerial Efficiency and the Interest Rate Pass-through in India.

If banks solve an inter-temporal problem under adverse selection and moral hazard, then bank specific factors, regulatory and supervisory features, market structure, and macroeconomic factors affect ...

by Jugnu Ansari | On 21 Feb 2014

Financing Infrastructure in Bangladesh – Some Options

This paper seeks to outline the infrastructure needs of Bangladesh with respect to domestic sources of finance. While infrastructure encompasses energy, transportation, telecommunications, water and...

by Ishraq Ahmed | On 22 Jan 2014

Women's Migration, Urban Poverty and Child Health in Rajasthan

The paper is concerned with the high levels of infant and child illness and death amongst poor urban slum communities in Rajasthan, a state with one of the highest infant mortality rates in India. Ur...

by Maya Unnithan Kumar | On 15 Jan 2014

Remoteness and Unbalanced Growth: Understanding Divergence Across Indian Districts

The existing literature on Indian growth finds no evidence of convergence across states. This represents a puzzle given the relatively free flows of capital, labor and commodities across state borde...

by Samarjit Das | On 27 Nov 2013

Measuring International Remittances in India: Concepts and Empirics

India is the top remittance receiving nation in the world. The international remittance receipts in India have grown at an impressive rate of 300 per cent during the past decade. Understanding the tru...

by Puja Guha | On 13 Sep 2013

For Love or Money? Motivating Workers

An analysis of the ability of employers to provide care and attention as a way to motivate their employees is done. Workers not only compare their wages, as pointed out in previous literature, but als...

by Saima Naeem | On 09 Aug 2013

Why Is Mobility in India So Low? Social Insurance, Inequality, and Growth

This paper examines the hypothesis that the persistence of low spatial and marital mobility in rural India, despite increased growth rates and rising inequality in recent years, is due to the existenc...

by Kaivan Munshi | On 22 Jul 2013

Mumbaikars’ last supper

The National Food Security Bill is all set to become an Act/ordinance and give legal entitlement to the citizens of the country to food. However the Bill does not define what food security is; but sim...

by Mousumi Das | On 19 Jul 2013

The Securities and Exchange Board of India (Amendment) Bill, 2013

A bill further to amend the Securities and Exchange Board of India Act, 1992. [PRS]. URL:[http://www.prsindia.org/uploads/media//SEBI%20(A)%20Bill,%202013/The%20Securities%20and%20Exchange%20Board%20...

by Parliamentary Research Service PRS | On 19 Mar 2013

Repayment and Exclusion in a Microfinance Experiment

The experiment is designed to explore the effectiveness of such sanctions in improving repayment incentives. Groups of 10 members are provided with joint-liability loans for a specific investment pr...

by Jean Marie Baland | On 07 Mar 2013

Metabolism Of Mumbai- Expectations, Impasse and the Need For a New Beginning

As population and human activities expand they exert heavy environmental pressure through the resource requirement, their production and consumption. Hence, it is important to understand the resource...

by B. Sudhakara Reddy | On 12 Feb 2013

The Companies Bill, 2011

A bill to consolidate and amend the law relating to companies. [PRS]. URL:[http://www.prsindia.org/uploads/media/Company/companies%20bill%202011.pdf].

by Parliamentary Research Service PRS | On 11 Feb 2013

Property Tax System in India: Problems and Prospects of Reform

This paper analyses the property tax system in India, examines the reasons for its low revenue productivity, reviews the recent reform initiatives and identifies further reform areas. [NIPFP Working P...

by M. Govinda Rao | On 06 Feb 2013

Microfinance in Evolution: An Industry Between Crisis and Advancement

Following the international financial crisis that started in 2007, market growth and MFI performance started to deteriorate. Over the last decade the market has matured and become more efficient. Is...

by Cédric Lützenkirchen | On 14 Jan 2013

The Real Exchange Rate and Export Growth: Are Services Different?

The determinants of exports of services, distinguishing between modern and traditional services are considered. The growth of export volumes and so-called export surges – periods of rapid sustained...

by Barry Eichengreen | On 02 Jan 2013

Women Workers from Asia to Gulf: Its Outcomes

Review of the book 'Migration of Women Workers from South Asia to the Gulf' By Rakkee Thimothy, S.K. Sasikumar, UN Women, 2012

by R. S. Reshmi | On 24 Dec 2012

Review of Input and Output Policies for Cereals Production in Pakistan

This report reviews the input and output policies for cereals implemented in Pakistan during the period 1996–2010. Pakistan has a long and varied history of intervening in farm input and output market...

by Abdul Salam | On 16 Nov 2012

Demographics, Labor Mobility, and Productivity

This paper considers two major issues that need to be treated as matters of urgency. First, internal (within country) migrations in the Asian (ACI) region are mostly undocumented and large. It is show...

by E J Wilson | On 05 Nov 2012

Why was the Participation of Indian States in the Growth Turnaround so Patchy? Some Evidence Based on Robustness Analysis

In Ghate & Wright Journal of Development Economics, vol. 99 (2012) pp 58–67, it was noted that there was considerable variation in the extent to which different Indian states participated in the Gr...

by Chetan Ghate | On 02 Nov 2012

Mid Term Appraisal of Eleventh Five Year Plan - 2007 - 2012

The Mid-Term Appraisal (MTA) reviews the experience in the first three years of the Plan and seeks to identify areas where corrective steps may be needed. The chapter presents a broad overview of the...

by Planning Commission | On 05 Oct 2012

The Heterogeneous Welfare Impacts of Participation in Contract Farming Schemes: Evidence from Southern India

The heterogeneity of welfare impacts of contract farming participation is demonstrated by estimating an endogenous switching model using survey data for 474 farmers in four commodity sectors, gherkin...

by Sudha Narayanan | On 06 Sep 2012

Economic and Financial Developments in Uttarakhand

A brief outline of the economic and financial structure of the State and the various financial inclusion initiatives taken by the Reserve Bank is highlighted. But there are some policy challenges in s...

by Deepak Mohanty | On 03 Sep 2012

Coordinating Healthcare and Pension Policies: An Exploratory Study

Rapid ageing of the population globally represents an unprecedented historical trend. As pension and healthcare costs are positively correlated with rising incomes, ageing, urbanization, and a shift f...

by Azad Singh Bali | On 20 Aug 2012

Deriving India’s Potential Growth from Theory and Structure

Estimates suggest that Indian aggregate supply is elastic but subject to upward shocks. If supply shocks make a high persistent contribution to inflation, it implies second round pass through is occu...

by Ashima Goyal | On 16 Aug 2012

Suicide and Property Rights in India

Is there an impact of female property rights on male and female suicide rates in India. Using state level variation in legal changes to women's property rights, it is shown that better property righ...

by Siwan Anderson | On 02 Aug 2012

Raining problems

Recent history tells us that the growth rate of the economy does not automatically go up and down with good and bad monsoons. [BS Weekend Ruminations]. URL:[http://www.business-standard.com/india/news...

by T.N. Ninan | On 18 Jul 2012

School Libraries and Language Skills in Indian Primary Schools: A Randomized Evaluation of the Akshara Library Program

A randomized evaluation of a school library program on children’s language skills is conducted. The program had little impact on students’ scores on a language test administered 16 months after implem...

by Evan Borkum | On 09 Jul 2012

Has India Emerged? Business Cycle Stylized Facts from a Transitioning Economy

A comprehense documentation - using both annual and quarterly data - an exhaustive set of stylized facts for the Indian business cycle in the pre and post reform period, the data is used to report...

by Chetan Ghate | On 19 Jun 2012

The Impact of Indian Job Guarantee Scheme on Labor Market Outcomes: Evidence from a Natural Experiment

Public works programs, aimed at building a strong social safety net through redistribution of wealth and generation of meaningful employment, are becoming increasingly popular in developing countries....

by Mehtabul Azam | On 29 May 2012

Estimation of Capacity Utilisation in Indian Industries: Issues and Challenges

The estimation of capacity utilisation (CU) derives its significance from the fact that, if properly assessed, it may provide a reliable indication of incipient inflationary pressure in an economy. Me...

by Atri Mukherjee | On 09 May 2012

Developing Asia’s Pension Systems and Old-Age Income Support

A broad overview of the current state of pension systems in the People’s Republic of China, Indonesia, Republic of Korea, Malaysia, Philippines, Singapore, Thailand, and Viet Nam is provided. An anal...

by Donghyun Park | On 30 Apr 2012

Liberalisation of Technical Education in Kerala: Has a Significant Increase in Enrolment Translated Into Increase in Supply of Engineers?

Enrolments in engineering in Kerala increased from about 2800 in 1991 to about 28,000 in 2008. The study analyses whether this increase in potential supply of engineers has resulted in actual supply o...

by Sunil Mani | On 25 Apr 2012

Measuring and Explaining the Asymmetry of Liquidity

This paper examines transactions costs in buying versus selling using a large database of snapshots of the limit order book. On the equity spot market, there is clear evidence of asymmetry in liquid...

by Rajat Tayal | On 19 Apr 2012

The Great Depression and the Great Recession: What have we Learned?

The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession...

by Michael D Bordo | On 13 Apr 2012

Monetary Transmission in Pakistan: The Balance Sheet Channel

Using data of non-financial listed firms over a period of 1999-2010, this paper investigates the effectiveness of balance sheet channel in monetary transmission mechanism in Pakistan. By classifying f...

by Safia Shabbir | On 09 Apr 2012

A Corporate Governance Index for Large Listed Companies in India

A Corporate Governance Index for 500 large listed Indian firms for the period from 2003 to 2008 is constructed. The index construction uses information on four important corporate governance mechan...

by Jayati Sarkar | On 04 Apr 2012

Price and Income Elasticity of Imports: The Case of Pakistan

The paper estimates the elasticity of Imports with respect to relative prices and income for Pakistan from 1971 to 2009. What distinguishes this paper from the earlier studies is the use of robust est...

by Khurram Ashfaq Baluch | On 30 Mar 2012

A Review of Input and Output Policies for Cereals Production in India

This paper reviews the key policies with regard to agriculture inputs such as seed, fertilizer, water, agricultural equipment, research, extension, and agricultural credit. It also provides an overvie...

by Ganga Shreedhar | On 29 Mar 2012

Not the Remembered Country

The food security Bill's focus ignores changes in agriculture and eating habits. [BS editorial]. URL:[http://www.business-standard.com/india/news/t-n-ninan-notremembered-country/467874/].

by T.N. Ninan | On 19 Mar 2012

Close Eye or Closed Eye: The Case of Export Misinvoicing in Bangladesh

The effect of export subsidies on the under-invoicing of exports in Bangladesh is analyzed. In a framework that allows for unobserved heterogeneity among importing countries and product specificities,...

by Pranav Kumar Gupta | On 16 Mar 2012

Oil Price Shock, Pass-through Policy and its Impact on India

This paper analyses the impact of transmission of international oil prices and domestic oil price pass-through policy on major macroeconomic variables in India with the help of a macroeconomic policy...

by N R Bhanumurthy | On 16 Mar 2012

Services-led Growth, Employment and Job Quality: A Study of Manufacturing and Service-sector in Urban India

This is a study of employment growth, structure, and job quality outcomes in manufacturing and service-sector in urban India spanning the period 1999-2000 to 2009-10. The context is that of dynamic...

by K.V. Ramaswamy | On 12 Mar 2012

The Global Race for Excellence and Skilled Labour: A Status Report

In this context, higher education as well as research and development (R&D) have long since ceased to be purely the domain of the developed Western economies. Numerous regions of the world, some in th...

by Ingo Rollwagen | On 09 Mar 2012

Time Poverty, Work Status and Gender: The Case of Pakistan

Time is an important economic resource that can be spent in a variety of ways. Diverse demands on a person’s time may reach a point where the individual may be categorized as time poor. Time poverty...

by Najam us Saqib | On 09 Mar 2012

Budget of Nepal 2011-12

Budget speech by Nepal Finance Minister. URL:[http://www.mof.gov.np/publication/speech/2011/pdf/budgetspeech_english.pdf].

by Ministry of Finance, Government of Nepal | On 06 Mar 2012

Socioeconomic Factors and All Cause and Cause-Specific Mortality among Older People in Latin America, India, and China: A Population-Based Cohort Study

The vital status of 12,373 people aged 65 years and over was determined 3–5 years after baseline survey in sites in Latin America, India, and China. Crude and standardised mortality rates are reporte...

by Cleusa P Ferri | On 05 Mar 2012

The End of the “Liberal Theory of History”? Dissecting the U.S. Congress’ Discourse on China’s Currency Policy

In the last ten years, economic issues related to currency policy have become the major ongoing dispute between China and the U.S. Especially the U.S. Congress is stridently demanding a tougher poli...

by Nicola Nymalm | On 01 Mar 2012

Archival Research on Hunter-Gatherers´ Religions in Borneo

This research focuses on religious changes among hunter-gatherers in Borneo. A two month archival research was carried out that will be used in the understanding of the relationship between traditi...

by Gotzone Gray | On 28 Feb 2012

Review of Macroeconomic Methods and Microeconomic Valuation Methods Applied in the Natural Resources and Environment Sector

The general objective of the paper is to review the different macroeconomic models and microeconomic valuation methods applied in the analysis of the natural resource and enviromnent sector which ar...

by Danilo C Israel | On 27 Feb 2012

Towards a Model for Analyzing the Impact of Macroeconomic Adjustment Policies on Households: A Review of Empirical Household Models in the Philippines

The paper has two objectives, namely: (a) determine and assess how existing empirical household models are able to capture the effects of changes in the macroeconomic variables on the welfare of the...

by Aniceto C. Orbeta Jr. | On 17 Feb 2012

Myanmar Economy: A Comparative View

A stated objective of Myanmar is to become a modern developed nation that will stand shoulder to shoulder – proud, dignified and tall – with the countries of the world. How far has Myanmar come in a...

by U Myint | On 15 Feb 2012

Health Education

There is an uneven geographical distribution of health workers. The shortage of health workers is compounded by the fact that their skills, competencies, clinical experience, and expectations are ofte...

by Nandini Dube | On 14 Feb 2012

Business and Growth Rate Cycles in India

This paper describes business and growth rate cycles with special reference to the Indian economy. It uses the classical NBER approach to determine the timing of recessions and expansions in the India...

by Pami Dua | On 10 Feb 2012

The Euro Zone Crisis and its Dimensions and Implications

The sovereign debt problems in the peripheral economies of the euro zone has started to pose a serious threat to the main economies of the Europe and perhaps to the future of the 'euro‘ itself. Such a...

by M R Anand | On 06 Feb 2012

Inflation in Nepal

A large number of studies in Nepal have been conducted to identify the factors responsible for inflation based on the different theories of inflation. Although these studies provide insight into the...

by Nepal Rastra Bank Research Department NRB | On 02 Feb 2012

Fiscal Policy in India: Trends and Trajectory

This essay examines the trajectory of India?s fiscal policy with a focus on historical trends, fiscal discipline frameworks, fiscal responses to the global financial crisis and subsequent return to a...

by Supriyo De | On 31 Jan 2012

“Reserve Bank of India Post-Policy Conference Call”

RBI Governor D. Subbarao answering to researchers after publishing the monetary policy. [RBI]. URL:[http://rbidocs.rbi.org.in/rdocs/Content/PDFs/RBIRA27012012.pdf]

by Reserve Bank of India RBI | On 30 Jan 2012

Third Quarter Review of Monetary Policy 2011-12

This policy review is set in the context of a highly uncertain global environment and a delicately poised domestic balance between growth and inflation. It should be read and understood together...

by Duvvuri Subbarao | On 25 Jan 2012

Macroeconomic and Monetary Developments Third Quarter Review 2011-12

The Growth outlook has weakened as a result of adverse global and domestic factors that have been mentioned above. Business and consumer confidence has been impacted. Professional forecasters now...

by Reserve Bank of India RBI | On 25 Jan 2012

K to 12: The Key to Quality Education?

The continuous deterioration of the quality of education in the Philippines has prompted the DepEd to push for the implementation of the K to 12 program, which entails the institutionalization...

by Senate Economic Planning Office SEPO | On 23 Jan 2012

Challenges in IMS Reforms: A Global and Emerging Markets Perspective

The current global financial crisis has reopened an old debate on the international monetary system by baring weaknesses and flaws that have long been known. The debate is centred on both stability an...

by Alok Sheel | On 10 Jan 2012

Strengthening Banking Regulation: Amending the BSP Charter

This Policy Brief discusses the proposed amendments to Republic Act No. 7653 (RA 7653). The first part briefly presents the mandate of the Bangko Sentral ng Pilipinas (BSP). It then describes the fi...

by Senate Economic Planning Office SEPO | On 29 Dec 2011

Monetary Neutrality in the Nepalese Economy during 1975-2008

One of the methods of measuring the effectiveness of monetary policies is via inspection of monetary neutrality in the economy. It is a concept from classical economics and it suggests that changes...

by Mukesh Khanal | On 16 Dec 2011

Union Power November 2011

The three year journey of the G-20 Heads of Government Summit from Washington in 2008 to Paris this November is signified by two markers of the depth of the global capitalist crisis. First, that the c...

by Louise Ross | On 14 Dec 2011

A China Round of Multilateral Trade Negotiations

Until recently, the World Trade Organization (WTO) has been an effective framework for cooperation because it has continually adapted to changing economic realities. The current Doha Agenda is an ab...

by Aaditya Mattoo | On 13 Dec 2011

Where Socrates Fears to Tread……

Review of the book 'Social Income and Insecurity: A Study in Gujarat' by Guy Standing, Jeemol Unni, Renana Jhabvala, and Uma Rani Routledge India, 2010 216 pages.

by N. Vijayamohanan Pillai | On 12 Dec 2011

Informal Labour and Credit Markets: A Survey

This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modelling informality within both partial and general equilibrium e...

by Nicoletta Batini | On 24 Nov 2011

The Impossible Trinity and Capital Flows in East Asia

The Impossible Trinity doctrine still holds a powerful sway over policymakers, advisors (particularly the International Monetary Fund [IMF]) and academia. In East Asia over the past decade, however,...

by Stephen Grenville | On 15 Nov 2011

Monetary Operating Procedures: Principles and the Indian process

As markets deepen and interest elasticities increase it is optimal for emerging markets to shift towards an interest rate instrument since continuing monetization of the economy implies money demand...

by Ashima Goyal | On 04 Nov 2011

The Financial Accelerator: An Emerging Market Story

In support of the financial-accelerator theory, evidence is found on countercyclical price-cost banking margins possibly explaining the amplifications of business cycles in Pakistan. [WP 41]. URL:[ht...

by Shah Hussein | On 03 Nov 2011

Macro-Economic Policy Outcomes and Agriculture Relation between Fiscal Deficits and Investment in Agriculture

In an earlier paper (Alagh, Munish, 2011) it was shown that macro economics matters in agriculture. The relevance of understanding the impact of macro-economic policy on agriculture was outlined. A...

by Munish Alagh | On 24 Oct 2011

Recent Global Crisis and the Demand for Gold by Central Banks: An Analytical Perspective

When India purchased 200 tonnes of gold under the International Monetary Fund's limited gold sales programme, it was interpreted inter alia that it may further inflate the gold price when the price...

by Karunagaran A | On 17 Oct 2011

Global Economic Crisis: Impact and Restructuring of the Services Sector in India

The Indian economy has shown considerable resilience to the global economic crisis by maintaining one of the highest growth rates in the world. The services sector accounted for around 88 per cent of...

by Abhijit Das | On 13 Oct 2011

Populations at Risk: Other End of Youth Bulge

While there is much written on the youth bulge in developing countries, little is being done to address the problems of the elderly. And yet demographically, it is this section that is showing high gr...

by Lakshmi Priya | On 10 Oct 2011

Competition for Foreign Capital: Endogenous Objective, Public Investment and Tax

In this paper the objective functions of the regions as well as their decision to provide public investment are endogenized in a model of competition for foreign owned mobile capital. It is demonstra...

by Rupayan Pal | On 04 Oct 2011

Global Production Networks in Electronics and Intra-Asian Trade

The growth of East Asia’s intra-regional trade is driven largely by increased component trade within global electronics production networks. Data on both electronics trade and production elucidate a...

by Byron Gangnes | On 29 Sep 2011

Understanding Inflation and Controlling It

Inflation management is one of the hardest tasks an economic policymaker has to undertake. It appears, at first sight, that one can rely entirely on commonsense to carry out this task. But that will b...

by Kaushik Basu | On 28 Sep 2011

Monetary Policy Dilemmas: Some RBI Perspectives

Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth...

by Duvvuri Subbarao | On 27 Sep 2011

History of Monetary Policy in India since Independence

An SIIO paradigm, based on structure and ideas that become engraved in institutions and affect outcomes, is developed to examine and assesses monetary policy in India after independence. Narrative h...

by Ashima Goyal | On 16 Sep 2011

Faster, Sustainable and More Inclusive Growth: An Approach to the 12th Five Year Plan

In preparing the Approach Paper, the Planning Commission has consulted much more widely than ever before recognising the fact that citizens are now much better informed and also keen to engage. Over...

by Planning Commission, India | On 12 Sep 2011

Productivity Dynamics in the Indian Pharmaceutical Industry: Evidences from Plant-level Panel Data

This paper investigates the effects of plants' dynamics on productivity growth in the Indian pharmaceutical industry across five regions: north, north-west, west, south and the rest of India, during t...

by Atsuko Kamiike | On 06 Sep 2011

The Seed and Agricultural Biotechnology Industries in India: An Analysis of Industry Structure, Competition, and Policy Options

This paper examines the structure of India’s cereal seed and agbiotech industries, its potential effects on innovation and social welfare, and the policies that may improve both industry performance a...

by David J Spielman | On 31 Aug 2011

Achieving Progress for Development Effectiveness in Busan: An Overview of CSO Evidence

The global Reality of Aid Network has been working in preparation for Busan alongside CSO colleagues from women’s rights organizations, trade unions, farmers’ organizations, faith-based organizations...

by Brian Tomlinson | On 30 Aug 2011

The Role of Macroeconomic Policy in Rebalancing Growth

The aftermath of the global financial crisis of 2007–2009 has called the export-led growth model of Asian economies into question. This paper describes the contribution that macroeconomic policy can m...

by Peter Morgan | On 23 Aug 2011

Determinants of Primary Yield Spreads of States in India: An Econometric Analysis

An attempt is made to identify the determinants of yield spreads between the State and Central government securities in a panel data framework as has been used in several cross-country studies. This...

by Dhritidyuti Bose | On 08 Aug 2011

Food Quality in Domestic Markets of Developing Economies: A Comparative Study of two Countries

Food quality has become an important determinant of success in global food trade and growers for international markets have to continuously adjust to buyers’ requirements. It is however not clear to w...

by Anneleen Vandeplas | On 03 Aug 2011

Provisional Population Totals: Rural Urban Distribution India: Series I

The rural-urban distribution of the population is shown. URL:[http://censusindia.gov.in/2011-prov-results/paper2/data_files/india/paper2_1.pdf].

by | On 21 Jul 2011

Inter-State Imbalances in Essential Services: Some Perspectives

This paper analyzes the inter-state imbalances in three major sectors of the economy, namely, education, health and family welfare, and water supply and sanitation for fifteen major states. It uses...

by C Bhujanga Rao | On 14 Jul 2011

Fisher’s Equation: Some Methodological Doubts

The Fisher's equation has become a foundation stone of modern macroeconomic, monetary and financial theories. Here it is shown that despite the estabilished status of Fisher's equation, it stands on...

by Rajas Parchure | On 04 Jul 2011

The Effect of Exchange Rate Changes on Trade in East Asia

This paper considers how exchange rates affect East Asian trade. The evidence indicates that exports produced within regional production networks depend on exchange rates throughout the region while l...

by Willem Thorbecke | On 01 Jul 2011

On Graham’s Theory of Multicountry Multicommodity Trade

Mathematical formulations of Frank D. Graham’s theory of multicountry multicommodity trade have not provided numerical methods for finding the world trade equilibrium. Graham was in possession of su...

by Rajas Parchure | On 27 Jun 2011

Incidence and Performance Effects of Interlocking Directorates in Emerging Market Business Groups: Evidence From India

The phenomenon of interlocking directorates is widespread among corporate across the world. This paper studies the structure and extent of interlocking directorates within Indian business groups and ...

by Bikram De | On 24 Jun 2011

The Wide Angle: The End of Population Growth

The the population dynamics of the 21st century is shown here.

by Sanjeev Sanyal | On 21 Jun 2011

Frontier Issues on the Global Agenda- Emerging Economy Perspective

The article is a report of RBI Minister Duvvuri Subbarao on issuesing concerning the G-20 countries and also issues effecting all the countries collectively.

by Duvvuri Subbarao | On 13 Jun 2011

Regional Terms of Trade for the State of Kerala

The movement of terms of trade would determine the real wins from trade given a historically chosen path of regional specialisation. Kerela economy specialises in a variety of export oriented commerci...

by Thomas Isaac | On 02 Jun 2011

Hong Kong’s Linked Exchange Rate System

Hong Kong has had a linked exchange rate regime of one kind or another for most of its history as a trading and financial centre. In 1863 the Hong Kong Government declared the silver dollar – then a...

by Hong Kong Monetary Authority | On 27 May 2011

The Consolidated Medium-Term Income and Expenditure Framework: Prepared by the Finance Department and the Office of Budget and Planning

This paper updates the Fund’s consolidated income and expenditure outlook from the projections in January 2011. The paper incorporates and extends the income and budget projections in the companion...

by International Monetary Fund | On 13 May 2011

Who Cares about the Chinese Yuan?

The rise of China in the world economy and in international trade has raised the possibility of a rise of the Yuan as an international currency, particularly after the Chinese authorities have under...

by Vimal Balasubramaniam | On 05 May 2011

Monetary Policy Statement 2011-12

This Statement sets out the Reserve Bank’s assessment of the current macroeconomic situation and projections. URL:[http://rbidocs.rbi.org.in/rdocs/notification/PDFs/APS030511F.pdf].

by Duvvuri Subbarao | On 03 May 2011

Deregulation of Savings Bank Deposit Interest Rate: A Discussion Paper

The paper is an attempt to deal with pros and cons of deregulating savings deposit interest rate and take on board the suggestions of various stakeholders for either maintaining the status quo or dere...

by Reserve Bank of India RBI | On 02 May 2011

The Quality of Medical Care in Low-Income Countries: From Providers to Markets

The excellent systematic review in this week’s PLoS Medicine by Paul Garner and colleagues focuses discussion on this critical issue. Their finding of poor quality in both the public and private s...

by Jishnu Das | On 29 Apr 2011

Has India Emerged? Business Cycle Stylized Facts from a Transitioning Economy

This paper presents a comprehensive set of stylised facts for business cycles in India from 1950 - 2009. India's business cycle in the pre 1991 economy is compared with the post 1991 Indian economy,...

by Ila Patnaik | On 27 Apr 2011

Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy?

In 2010 and 2011, there has been a fresh wave of interest in cap- ital controls. India is one of the few large countries with a complex system of capital controls, and hence others an opportunity to...

by Ila Patnaik | On 21 Apr 2011

Short Duration Migration in India: An Appraisal from Census 2001

This paper tries to focus on the method to assess the magnitude of short/seasonal migration based on its broad characteristics. It attempts to analyse the contrasting characteristics of short durat...

by Vijay Korra | On 18 Apr 2011

Liquidity Considerations in Estimating Implied Volatility

Some option series in the market are far less liquid than others. Market illiquidity can reduce the informativeness of option prices. In this paper, an alternative schemes are proposed to estimate im...

by Rohini Grover | On 09 Apr 2011

Presentation - Managing Foreign Exchange Reserves During and After the Crisis

This presentation was given at the Managing Foreign Exchange Reserves in the Crisis and After Seminar by Robert N. McCauley, which was held in Tokyo, Japan on 15 March 2011. URL: [http://www.adbi.org/...

by Robert N. McCauley | On 06 Apr 2011

Hot Topics for the Future of PRC and Hong Kong, China

At the end of 2004, the macroeconomic balance in the People’s Republic of China (PRC) raises some interesting options. The external sector enjoys a huge surplus, with significant increases in the cu...

by Toshiki Kanamori | On 25 Mar 2011

Macroeconomic Uncertainty and Corporate Liquidity: The Indian Case

Interest in the uncertainties prevailing at the macroeconomic level has always been well known in economic literature. This paper analyses the effect of firm level and macroeconomic uncertainty on t...

by Mrinal Kanti | On 22 Mar 2011

Stimulus, Recovery and Exit Policy G20 Experience and Indian Strategy

There are large variations among the G20 countries in their deceleration experiences, transmission mechanisms and their current macroeconomic outlook. Hence, this paper argues that each country nee...

by Sudipto Mundle | On 14 Mar 2011

Will it be Different this Time?

All proposals and policy measures in the forthcoming Budget may best be summed up as efforts to improve the sustainability of growth. Specific objectives are likely to be lowering inflation and defici...

by IRIS India IRIS | On 22 Feb 2011

Central Bank Lessons from the Global Crisis

Nine preliminary lessons from the Great Recession for monetary and financial policies are presented. [3rd P. R. Brahmananda Memorial Lecture].

by Stanley Fischer | On 18 Feb 2011

Indian Economy: Selected Methodological Advances

This paper develops tools to examine selected major issues in the Indian economy. The study computes the potential growth rate of the economy and the agricultural sector, extends the analysis of fisca...

by Mathew Joseph | On 11 Feb 2011

The Global Financial Crisis and Macroeconomic Policy Issues in Asia

The purpose of this policy brief is to draw lessons from the recent and ongoing macroeconomic policy experience of Asia’s economies. To do so, in each of three policy areas (monetary, fiscal, and e...

by Shinji Takagi | On 04 Feb 2011

Third Quarter Review of Monetary Policy 2010-11

This statement sets out the Reserve Bank’s assessment of the current macroeconomic situation and forward projections.

by D Subbarao | On 31 Jan 2011

Singapore's Exchange Rate-Based Monetary Policy: A Critical Evaluation

The exchange rate-based monetary policy followed by the Monetary Authority of Singapore (MAS) is outlined. Possible theoretical frameworks, including a reaction function is outlined. The way the MAS h...

by Partha Sen | On 31 Jan 2011

Report of the Sub-Committee of the Central Board of Directors of Reserve Bank of India to Study Issues and Concerns in the MFI Sector

While this growth is impressive, a number of studies both in India and abroad have questioned whether growth alone is effective in addressing poverty and what the adverse consequences of a too rapid g...

by Reserve Bank of India | On 30 Jan 2011

The United Arab Emirates: Some Lessons in Economic Development

Oil was discovered in the United Arab Emirates (UAE) just 50 years ago. During that time, UAE has been able to transform itself into a rapidly modernizing country, which is fast becoming a major e...

by Yaw Nyarko | On 27 Jan 2011

Income-based Measures of Average Well-being

International comparisons of average national incomes omit important information about leisure, home production, health, etc. They are also bedevilled by index number problems. This paper suggests...

by Steve Dowrick | On 17 Jan 2011

When to Start a New Firm? Modelling the Timing of Novice and Serial Entrepreneurs

The success of new start-up firms often depends on timing. It is valuable for the potential entrepreneur to wait for the right moment before starting a new firm. In this paper we provide a theoret...

by Thomas Gries | On 14 Jan 2011

Evolution of India’s Exchange Rate Regime

The paper analyzes the changing INR trends over the reform period, in the context of fundamental determinants of exchange rates. [WP-2010-024].

by Ashima Goyal | On 13 Jan 2011

What Accounts for China’sTrade Balance Dynamics?

This paper proposes a structural VAR model which extends the frameworks of Hoffmaister and Roldós (2001) and Prasad (1999). The model is then used to analyse the sources of China’s trade balance flu...

by Yin Zhang | On 07 Jan 2011

Intersociety Literacy Comparisons

Basu and Foster (1998) characterized a sophisticated literacy measure using five axioms. In this paper they argue that if a measure satisfies three of their five axioms, namely, anonymity, monoton...

by Satya R. Chakravarty | On 05 Jan 2011

The Two Cultures Revisited: Some Reflections on the Environment-Development Debate in India

The speech is mainly about the "two cultures” (modern society—the cultures of the science and that of the humanities) syndrome—the apparent gap between those espousing the case for faster economic g...

by Jairam Ramesh | On 23 Dec 2010

Monetary Policy Considerations after the Crisis: Practitioners’ Perspectives

Economic stability can be seen as an essential component of any strategy for inclusive development. To the extent that central banks play a role in providing that stability, the experience of the cris...

by Subir Gokarn | On 21 Dec 2010

Issues in Real Estate and Urban Management – A Note

This note raise many policy issues related to real estate and the urban sector. Urban issues and the very high cost of real estate in India have deep rooted problems that have their origin in the po...

by Sebastian Morris | On 22 Nov 2010

Convergence Club Empirics: Some Dynamics and Explanations of Unequal Growth across Indian States

This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income...

by Sanghamitra Bandyopadhyay | On 22 Nov 2010

The Yuan’s Exchange Rates and Pass-through Effects on the Prices of Japanese and US Imports

This paper estimated the pass-through effects of yuan’s exchange rates on prices of the US and Japanese imports from the People’s Republic of China (PRC). Empirical results show that, a 1% nominal app...

by Yuqing Xing | On 04 Nov 2010

Macroeconomic Impacts of Foreign Exchange Reserve Accumulation: Theory and International Evidence

Recently, a dramatic accumulation in foreign exchange reserves has been widely observed in developing countries. This paper explores the possible long-run impacts of this trend on macroeconomic variab...

by Shin-ichi Fukuda | On 01 Nov 2010

The Rationale and the Result of the Current Stabilisation Programme

Apart from the episode of the mid-sixties, macroeconomic crises have not played a major part in India's economic development. A certain sort of stability had accompanied the lack-lustre grow...

by Pulapre Balakrishnan | On 23 Oct 2010

Liberalization of Capital Inflows and the Real Exchange Rate in India: A VAR Analysis

The East Asian crisis of 1997-98 and the Mexican crisis of 1994 generated much concern among policy analysts regarding the role of macroeconomic policies in the management of capital inflows. A seri...

by Indrani Chakraborty | On 14 Oct 2010

Long Term Trends in the Growth and Structure of the Net State Domestic Product in Kerala

Kerala has been a model to other states for her achievements in social development. But in terms of economic growth her performance has for long been very poor and a matter of deep concern. In this...

by P. Mohanan Pillai | On 08 Oct 2010

Promoting Learning and Industrial Upgrading in ASEAN Countries

This paper traces the effects of the “East Asian Miracle,” the 1997–1998 Asian Crisis, the recovery, and the 2008–2009 global financial crisis on ASEAN countries. It also considers how ASEAN countries...

by Willem Thorbecke | On 28 Sep 2010

Fiscal Policy Issues for India after the Global Financial Crisis (2008–2010)

The need for fiscal consolidation and sustainability is one of the key macroeconomic issues confronting Indian economy. This paper attempts to understand India’s current fiscal situation, its likely f...

by Rajiv Kumar | On 28 Sep 2010

Supply Responses in the Livestock Economy of Kerala

The quantitative and qualitative changes taking place in livestock population over the years would be due to the changes in demand for livestock products. The changes in lives...

by K. Narayanan Nair | On 16 Sep 2010

Policy Reforms and Financing of Elementary Education in India: A Study of the Quality of Service and Outcome

Even as a case can be made out for public spending on elementary education, its link with enrolment rates does not appear strong. However, once efficiency and demand-side factors are accounted for, ...

by Basanta K. Pradhan | On 15 Sep 2010

Fiscal Consolidation with High Growth A Policy Simulation Model for India

In this paper a fiscal consolidation program for India has been presented based on a policy simulation model that enables us to examine the macroeconomic implications of alternative fiscal strateg...

by Sudipto Mundle | On 09 Sep 2010

Measurement of Inflation in India: Issues and Associated Challenges for the Conduct of Monetary Policy

In India, there is a large divergence between CPI and WPI inflation trends in the past, wide dispersion in inflation across commodity groups within WPI, and significant volatility in headline WPI in...

by Nadhanael G V | On 08 Sep 2010

Inspector Raj for Garment Export Business

The export of textiles from India accounts for about one-third of India’s total exports. What is more significant is that textiles as a group, is also the largest net foreign exchange earner in as...

by Avih Rastogi | On 01 Sep 2010

The Potato’s Contribution to Population and Urbanization: Evidence from an Historical Experiment

In this paper regional variation in suitability for cultivating potatoes, together with time variation arising from their introduction to the Old World from the Americas is being exploited, to estim...

by Nathan Nunn | On 26 Aug 2010

An Analysis of the Special Safeguard Mechanisms in the Doha Round of Negotiations A Proposed Price-trigger-based Safeguard Mechanism

This paper takes a detailed look at the SSM and analyzes its usefulness for developing countries. It also explores how the concept of a special agricultural safeguard has evolved in the present roun...

by Parthapratim Pal | On 11 Aug 2010

Earth Tube Heat Exchangers for Environmental Control of Farm Buildings in Semi-arid Northwest India

This paper presents the experience of using systems such as Earth Tube Heat Exchangers for environmental control in dwellings of zoo animals, and greenhouse in arid area of Kutch. Mention has also bee...

by Girja Sharan | On 04 Aug 2010

The Japanese Economy and Economic Policy in Light of the East Asian Financial Crisis

The depth and breadth of the East Asian financial crisis has added a sense of acute urgency for some concrete and credible measures by policy-makers to revitalise the Japanese economy. While steps...

by Ramkishen Rajan | On 23 Jul 2010

Backward & Forward Linkages in the ITES/ BPO Industry

Walk down the corridors of any college in Delhi, Bangalore or any of the metros and you will definitely find advertisements calling for executives to join in the “booming ITES industry” for a bright...

by Sabith Ullah Khan | On 22 Jul 2010

Environmental Control in Greenhouse and Animal Houses with Earth-Tube-Heat-Exchangers in Hot Semi-arid North-West India

This paper explores the process of Environmental Control in Greenhouse and Animal Houses with Earth-Tube-Heat-Exchangers in hot semi-arid north-west India. [Working Paper No. 2009-11-04]

by Girja Sharan | On 20 Jul 2010

State Capacity, Conflict and Development

This paper is a report on an on-going project, which asks a number of questions relevant to the study of state capacity. What are the main economic and political determinants of the state’s capacity...

by Timothy Besley | On 15 Jul 2010

How Would an Appreciation of the Yuan Affect the People's Republic of China's Surplus in Processing Trade?

Enormous trade surpluses are problematic for the People’s Republic of China (PRC) and the rest of the world. They primarily stem from processing trade. This paper investigates how exchange rate ch...

by Willem Thorbecke | On 30 Jun 2010

Auto Rickshaw Regulation In Vadodara A Reality Check

This paper makes a reality check regulation of auto rickshaw regulation in Vadodara.[Working Paper No.0065].

by Nimisha Srivastava | On 22 Jun 2010

The Exchange Rate Regime in Asia: From Crisis to Crisis

Prior to the Asian financial crisis, most Asian exchange rates were de facto pegged to the US Dollar. In the crisis, many economies experienced a brief period of extreme flexibility. A `fear of float...

by Ila Patnaik | On 18 Jun 2010

Exchange Rate Regimes and Macroeconomic Performance in South Asia

Stylized facts for South Asia show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on libera...

by Ashima Goyal | On 09 Jun 2010

The Shape of Temptation: Implications for the Economic Lives of the Poor

This paper argues that the relation between temptations and the level of consumption plays a key role in explaining the observed behaviors of the poor. Temptation goods are defined to be the set of...

by Abhijit Banerjee | On 13 May 2010

Energy Intensity of Indian Manufacturing Firms: Effect of Energy Prices, Technology and Firm Characteristics

The paper examines the factors that influence energy intensity in Indian industries. It has two parts. In the first part, trends in energy intensity are analysis and cross-industry panel data (taken...

by Bishwanath Goldar | On 13 May 2010

Implementation of Monetary Policy in India

How does the Reserve Bank of India implement monetary policy? The objectives and framework of monetary policy, as they have evolved, the operational aspects of monetary policy have been discussed. Th...

by Deepak Mohanty | On 08 Apr 2010

Asia Confronts the Impossible Trinity

Capital account openness and exchange rate flexibility in 11 Asian countries are examined. Asia has made slow progress on de jure capital account openness, but has made much more progress on de facto...

by Ila Patnaik | On 04 Feb 2010

Exchange Market Pressure and Monetary Policy

The objective of this study is to examine empirically the impact of monetary policy on exchange market pressure (EMP) in Bangladesh. EMP is measured as the sum of percentage change of international re...

by Sayera Younus | On 29 Jan 2010

Human Resources for Health: Requirements and Availability in the Context of Scaling-Up Priority Interventions in Low-Income Countries

The purpose of this study was to explore the role and importance of human resources for the scaling up of health services in low income countries. In the case studies, the following have been analyze...

by Christoph Kurowski | On 28 Jan 2010

Where Are India’s International Reserves Invested?

Most standard indicators suggest that India’s reserve stock is more than adequate. The rapid stockpiling of foreign exchange reserves implies that the RBI has been leaning-against-the-wind to keep dow...

by Ramkishen S. Rajan | On 25 Jan 2010

Public Private Partnership in Uttar Pradesh Health Care Delivery System- UPHSDP as an Initiative

The objective of the study is to find out the primary reason to encourage public private participation in health care delivery system in Uttar Pradesh and the study also aim to analyse UPHSDP -a Wor...

by Bibi Ishrat Jahan | On 07 Dec 2009

Climate Change and India-Some Major Issues and Policy Implications

The paper examines the genesis of Climate Change which has been referred to as the defining human development issue of our generation. Also studied is the impact of this problem in the global as well...

by H A C Prasad | On 01 Dec 2009

The Difficulties of the Chinese and Indian Exchange Rate Regimes

China and India have both attempted distorting the exchange rate in order to foster exports-led growth. This is described as the Bretton Woods II framework, where developing countries buy bonds in the...

by Ila Patnaik | On 30 Nov 2009

Green Technologies Related to Refrigeration and Air Conditioning

This paper presents some such case studies for co-and tri-generating various cold and hot utilities using innovative designs of Matrix and Tube-Tube Heat Exchangers and Multi-Utility Heat Pumps develo...

by Rane M V | On 27 Oct 2009

How Sapient is Homo Economicus? The Evolutionary Origins of Trade, Ethics and Economic Rationality

The paper argues that economism and, in particular, the individual drive to maximize utility and amass profit are not enough to ensure the efficient functioning of an economy; and that even for elemen...

by Kaushik Basu | On 09 Oct 2009

Civil War: A Review of Fifty Years of Research

A review of several decades of scholarship on civil war, focusing on the answers to key questions: Why do wars begin? Who fights? How are armed groups organized? How can we end and prevent internal wa...

by Christopher Blattman | On 05 Oct 2009

Food Consumption and Nutritional Status in India: Emerging Trends and Perspectives

The paper reviews the trends over three decades in the consumption of cereals, calories and micronutrients and nutritional status based on anthropometric measures using the data sets of NSS, NNMB and...

by Radhakrishna R | On 15 Sep 2009

Monetary Policy, Forex Markets and Feedback Under Uncertainity in an Opening Economy

Options for monetary policy arising from interactions between it and Indian foreign exchange (FX) markets. A brief survey covers recent rapid changes providing a snapshot of current microstructure, ...

by Ashima Goyal | On 14 Sep 2009

What Is the Impact of the Global Financial Crisis on the Banking System in East Asia?

This paper assesses the condition and outlook of the financial sectors—in particular, the banking sector—in the East Asia region in the aftermath of the current global financial crisis. The risks in t...

by Michael Pomerleano | On 07 Sep 2009

Do Remittances Impact the Economy? Some Empirical Evidences from A Developing Economy

The study attempts to examine the impact of remittances on macroeconomic activities (private consumption and investment) and its implications on economic growth in India for the period from 1966-67 to...

by Hrushikesh Mallick | On 01 Sep 2009

Incentives in Elementary Education - do They Make a Difference

This study tried to bring together the experiences of different approaches to incentives followed by six NGOs in the states of Rajasthan, Maharashtra, Orissa, Andhra Pradesh and Karnataka. Issues deal...

by Vimala Ramachandran | On 11 Aug 2009

A Model of Market Clearing Exchange Rates

This paper formulates a model of exchange rate determination that describes the market processes by which the foreign exchange markets are cleared and international receipts of countries are brought...

by Rajas Parchure | On 06 Aug 2009

Global Financial Architecture: Past and Present Arguments, Advice, Action

In the context of the formation of G-20, the paper points out the absence of reform in the global financial architecture (GFA) after the East Asian crisis, and assesses factors that can improve the ch...

by Ashima Goyal | On 15 Jul 2009

Emerging Contours of Financial Regulation: Challenges and Dynamics

The paper attempts to analyse the emerging contours of regulation of financial institutions with an emphasis on the emerging challenges and dynamics. [Paper prepared for Financial Stability Review of...

by Rakesh Mohan | On 29 Jun 2009

Crime, City and Space: A Case of Mumbai Megapolis

The present study has been an attempt to examine spatial distribution of various forms of crimes in Mumbai city (Municipal Corporation) and find out their correlates. More specifically the attempts ha...

by Abdul Shaban | On 23 Jun 2009

Impact of Monetary Policy Changes in a Semi-Global Economy: Evidence from Bangladesh

The study examines the impact of changes in monetary policy in Bangladesh. Specifically, the study examines the impact of domestic and foreign monetary shocks on Bangladesh’s major economic aggregate...

by Sayera Younus | On 22 Jun 2009

Subnational Taxes in Developing Countries: The Way Forward

It is critical to emphasize that intergovernmental fiscal relations must be thought of as a system and that all the pieces in the system must fit together if decentralization is to work properly. Vari...

by Richard.M. Bird | On 16 Jun 2009

Financial Development and Velocity of Money in Bangladesh: A Vector Auto- Regression Analysis

The study uses co-integration and vector auto-regression (VAR) techniques to identify the determinants of income velocity of money (VM) in Bangladesh, covering both narrow and broad money. The study o...

by Md. Akhtaruzzaman | On 15 Jun 2009

Employment Promoting Growth in Bangladesh: Monetary and Financial Sector Issues

Although economic growth has improved in recent years in Bangladesh, the better economic performance has not translated into satisfactory poverty reduction. The type of growth that matters Bangladesh...

by Mustafa. K. Mujeri | On 15 Jun 2009

Financing Long Term Investments in Bangladesh: Capital Market Development Issues

There has been an increase in the demand for infrastructure services and opening up of the infrastructure sector for private investment. As a result, a large number of financial intermediaries and pri...

by Mustafa. K. Mujeri | On 15 Jun 2009

Goods and Services Tax for India

The paper contours of a feasible design of VAT in India. It also takes on board the various alternatives proposed. It looks at the issues that need resolution and the options available for resolving t...

by R.Kavita Rao | On 12 Jun 2009

Foreign Exchange Liberalization: Perceptions, Realities and Way Forward

The article focuses on understanding of the economics of the exchange control liberalisation in macroeconomic perspectives and, therefore, the article does not attempt to interpret or explore the lega...

by P Samarasiri | On 12 Jun 2009

Does the Currency Regime Shape Unhedged Currency Exposure?

This paper examines how unhedged currency exposure of firms varies with changes in currency exibility. A sequence of four time-periods with alternating high and low currency volatility in India prov...

by Ila Patnaik | On 11 Jun 2009

Blunt Instruments: On Establishing the Causes of Economic Growth

Despite intense concern that many instrumental variables used in growth regressions may be invalid, or both, top journals studies of economic growth based on problematic instruments. doing so risks p...

by Samuel Bazzi | On 04 Jun 2009

Contribution of the Unorganised sector to GDP Report of the Sub Committee of a NCEUS Task Force

The task of the Sub-committee was to review the existing methodologies for estimating the contribution of unorganised/informal sector to GDP and suggest measures to facilitate direct estimation. The G...

by NCEUS NCEUS | On 28 May 2009

Risk Management Lessons from the Global Financial Crisis

During the global financial turmoil of 2007 and 2008, no major derivative clearing house in the world encountered distress while many banks were pushed to the brink and beyond. An important reason for...

by Jayanth R Varma | On 26 May 2009

Regional Monetary Units for East Asia: Lessons from Europe

This paper reports the European experience with a basket currency, the ECU. The ECU was initially introduced as a reference unit and later became the anchor of the European Monetary System. Public pol...

by Girardin Eric | On 22 May 2009

Macroeconometric Policy Modeling for India: A Review of Some Analytical Issues

Macroeconomic modelling is generally motivated by two objectives: forecasting and more significantly, policy analysis. In pursuit of both these objectives, every model must ideally satisfy four crite...

by V. Pandit | On 16 May 2009

Measurement of Employment And Unemployment in India : Some Issues

This paper offers a review of the concepts and definitions used in the NSS Employment-Unemployment Surveys (EUS, for short) which have remained virtually unchanged since they were introduced in the NS...

by K. Sundaram | On 15 May 2009

Gender and Innovation in South Asia

To understand how gender, women’s rights and citizenship intersect with innovation in SouthAsia, one must begin by considering some of the main features of life for South Asian women, about a half of...

by Sujata Byravan | On 06 May 2009

Some Reflections on the Recent Global Financial Turmoil – an Indian Perspective

The speech tries to underline some lessones that be drawn from the financial crisis relevant to regulation, financial markets and the market infrastructure and to reflect on these. [Annual Conference...

by Shyamala Gopinath | On 15 Jan 2009

The Global Financial Turmoil and Challenges for the Indian Economy

Perspective on the current global turmoil, its impact on India, the outlook for the Indian economy and the challenges that lie ahead for the Indian banking system, in particular. [Speech delivered at...

by D Subbarao | On 19 Dec 2008

Reducing Currency and Maturity Mismatch

The main objectives of this report are to identify and propose policies, factors and conditions that could mitigate or avoid double mismatches. policies here means any course of action pursued and ad...

by Khee-Giap Tan | On 19 Dec 2008

Inda's Pharmaceutical Industry on Course for Globalisation

The pharmaceutical industry is expanding worldwide. For some years now, it has been benefiting from the particular dynamics of the Asian economies as both purchasers and producers. It is not only the...

by Uwe Perlitz | On 12 Dec 2008

The Role of Fiscal and Monetary Policies in Sustaining Growth with Stability in India

This paper focuses on the role of fiscal and monetary policies in the evolution of the Indian economy over the years, with particular attention being given to the reforms undertaken in these policies...

by Rakesh Mohan | On 28 Nov 2008

Contemporary International and Domestic Banking Developments and the Emerging Challenges

A broad overview, from the Indian perspective, of the factors underlying the credit market crisis in the west, the implications of the crisis for the financial sector, lessons learnt from it, the var...

by Leeladhar V | On 25 Nov 2008

The Incidence and Performance Effects of Interlocking Directorates in Emerging Market Business Groups: Evidence from India

The structure and extent of interlocking directorates within Indian business groups is studied and analyses the performance effects of such interlocks. It finds that large groups tend to have more int...

by Bikram De | On 21 Nov 2008

India’s Macroeconomic Performance

The paper reviews India’s macroeconomic performance and policies since 2000. The first section briefly summarizes key macroeconomic developments regarding economic growth, inflation, external bala...

by Shankar Acharya | On 02 Nov 2008

India’s Macroeconomic Performance and Policies Since 2000

The paper reviews India’s macroeconomic performance and policies since 2000. The first section briefly summarizes key macroeconomic developments regarding economic growth, inflation, external balance...

by Shankar Acharya | On 29 Oct 2008

Heterodox Macroeconomics and the Design of Monetary Institutions

Two agendas of the heterodox economics programme; the stock-flow consistent models pioneered by Wynne Godley, and the monetary circuit approach researched in France and Italy are discussed. The object...

by Romar Correa | On 10 Oct 2008

Structural Modeling under Challenge

It is interesting to note that nearly three decades of new paradigms in macroeconomic theory and policy have hardly gone beyond the ivory towers of the academic world. The extent to which a scientif...

by V. Pandit | On 28 Aug 2008

Macroeconomic and Monetary Developments First Quarter Review 2008-09

The Reserve Bank released the document “Macroeconomic and Monetary Developments: First Quarter Review 2008-09” to serve as a backdrop to the First Quarter Review of Annual Policy Statement for 2008-0...

by Reserve Bank of India | On 28 Jul 2008

Sustainable Economic Growth for India

Use of Macroeconometric models has by now assumed a measure of universality as an unavoidable aid to forecasting and policy analysis; challenges and controversies spread over more than two decades not...

by V. Pandit | On 26 Jun 2008

Interest Rate Modeling and Forecasting in India

The interest rate is a key financial variable that affects decision of consumers, businesses, financial institutions, professional investors and policymakers. Timely forecast of interest rates can the...

by Pami Dua | On 13 Jun 2008

New issues in Indian macro policy

For many decades, macro-policy in India was conducted in an environment with five key elements: ˆ Agricultural shocks rather than a conventional business cycle; A closed economy; deeply distorti...

by Ajay Shah | On 13 May 2008

Sins of Omission

The question today is whether all the issues that were neglected when things were going well, will now get due attention when we can see even more clearly what needs to get done.

by T.N. Ninan | On 19 Apr 2008

Sins of Omission

The question today is whether all the issues that were neglected when things were going well, will now get due attention when we can see even more clearly what needs to get done.

by T.N. Ninan | On 19 Apr 2008

Innovation and Growth: Role of the Financial Sector

A brief overview is provided about India’s long-term growth performance. Then an attempt is made to set out the conditions for successful innovations. To assess the role of innovations in the Indian...

by Rakesh Mohan | On 03 Apr 2008

Stagflation Cometh

The good times may be ending. There have been worries for years about the global imbalances caused by America’s huge overseas borrowing. America, in turn, said that the world should be thankful: by li...

by Joseph E. Stiglitz | On 17 Mar 2008

Stagflation Cometh

The good times may be ending. There have been worries for years about the global imbalances caused by America’s huge overseas borrowing. America, in turn, said that the world should be thankful: by li...

by | On 17 Mar 2008

Competitiveness of India's Manufacturing Sector: An Assessment of Related Issues

An analysis of the various parameters of manufacturing competitiveness of the Indian economy is provided. The paper notes that India is one of the leading producers and exporters of a number of commod...

by Lakshmanan L | On 19 Feb 2008

Environmentally Sound Technologies for Sustainable Development of China and India

The paper compares policy responses of China and India to the global requirements of trade and environment regimes as well as the domestic compulsions are compared.

by Sankar U | On 11 Feb 2008

Third Quarter Review of Annual Monetary Policy for the Year 2007-08

Review consists of three sections: I. Assessment of Macroeconomic and Monetary Developments; II. Stance of Monetary Policy; and III. Monetary Measures. An analytical profile of macroeconomic a...

by Y V Reddy | On 30 Jan 2008

The Fundamental Equilibrium Real ExchangeRate in India : An Approach to Estimation and Measurement of Misalignment

An estimation of the real equilibrium exchange rate for India for the period in the latter half of the 1990s using fundamental economic variables by decomposing a structural VAR vested with appropriat...

by Himanshu Joshi | On 18 Jan 2008

Determinants of Choosing an Airline by a Traveller -An Analysis from New Zealand Perspective

The important determinants that have influence on travellers to choosing a particular airline are analysed. Data from primary and secondary sources have been used for this paper. A field survey was co...

by Ershad Ali | On 12 Dec 2007

Education for All by 2015 Will We Make It?

The EFA Global Monitoring Report offers an authoritative reference for comparing the experiences of countries, understanding the positive impact of specific policies and recognizing that progress ha...

by UNESCO Publishing | On 05 Dec 2007

The Growing Importance of Emerging Economies in the Globalised World and its Implications for the International Financial Architecture

The growing importance of India and other emerging economies in the globalized world are given in this lecture. This group of economies is not easy to define. However, some reflections on the implicat...

by Jean-Claude Trichet | On 30 Nov 2007

A Success Story

India's economic reforms are evaluated.

by T.N. Ninan | On 26 Nov 2007

Monetary Conditions Index for India

The authors attempt to construct a monetary conditions index (MCI) for India in order to take both interest rate and exchange rate channels simultaneously into consideration while evaluating the stanc...

by Kannan R | On 08 Nov 2007

Non Deliverable Foreign Exchange Forward Market: An Overview

Recognising the growing activity in the non deliverable forward (NDF) market in the recent years, the paper attempts to present a detailed analysis of the NDF market with special focus on Indian rupee...

by Sangita Misra | On 22 Oct 2007

Elements of Effective Central Banking: Theory, Practice, and History

The key elements of effective central banking that account for much of the improvement in monetary policy around the world today are outlined and explained. The past quarter of the century has been a...

by Marvin Goodfriend | On 09 Oct 2007

Food Consumption and Calorie Intake in Contemporary India

This paper examines how the patterns of India’s food consumption have been changing in recent times as a consequence of its faster economic growth and generally rising affluence levels. The study, als...

by Srikanta Chatterjee | On 30 Sep 2007

Models of Equilibrium Real Exchange Rates Revisited: A Selective Review of the Literature

One of the more important concepts in open macroeconomics is the “equilibrium real exchange rate” (ERER). Real exchange rate misalignments are argued to have been the cause of loss of competitivene...

by Reza Y. Siregar | On 20 Sep 2007

Report of the Inter-ministerial Task Force on Convergence of Securities and Commodity Derivative Market

With the abolition of prohibition on forward trade in all the commodities at the beginning of 2003, the commodity derivativesmarket has been totally liberalized. The Ramamoorthy Committee set up by SE...

by Ministry for Consumer Affairs,Food and Public Dist MCAFP | On 26 Aug 2007

Towards a Corporate Response to Climate Change

The recently concluded conclave of Indian corporate leaders in Palampur to discuss the scary situation of climate change in the world left the delegates more bewildered than clear on the strategies to...

by Manu N. Kulkarni | On 10 Aug 2007

Employment and Poverty in India: 2000-2005

This paper is principally focused on the changes in the size and structure of work force and the changes in labour productivity, wages and poverty in India in the first quinquennuim of the 21st centur...

by K. Sundaram | On 30 Jul 2007

Foreign Exchange Reserves

The report is a compilation of quantitative information with regard to external reserves, such as, level of foreign exchange reserves, sources of accretion to foreign exchange reserves, external liabi...

by Reserve Bank of India | On 26 Jul 2007

The Rise in Remittances to India: A Closer Look

India has clearly achieved a large sustained level of remittances. Policy initiatives by the government and banking institutions have achieved two significant results. First, most remittances flow tho...

by Muzaffar Chisti | On 11 Jul 2007

The Indian Currency Regime and its Consequences

Since 1993, India’s currency regime is said to be a managed float, a “market determined exchange rate” in the sense that there is a currency market and the exchange rate is not visibly administrativel...

by Ila Patnaik | On 10 Jul 2007

Ensuring Adequate Flexibility through Special Products: A Case Study of India

Stalemate in agricultural negotiations at the WTO has persisted with a continued lack of convergence on most important issues of trade-distorting domestic support, market access and related flex...

by Linu Mathew Philip | On 08 May 2007

Primary Education in India Prospects of Meeting the MDG Target

By using two large repeated cross-sections, one for the early 1990s, and one for the late 1990s, the growth in school enrolment is described and completion rates for boys and girls in India, and to ex...

by Sonia Bhalotra | On 22 Mar 2007

Agricultural Development In Maharashtra: Highlights Of Growth Patterns And Policy Implications

The growth performance of agriculture in Maharashtra was highly impressive is the early part of the green revolution period but deteriorated after 1980-81. the severe set back to growth in yield per h...

by Sawant S D | On 22 Mar 2007

WTO Agreements and Indian Agriculture: Retrospection and Prospects

By the end of 1999 World Trade Organization (WTO) will complete its five years of existence. At that time, re-negotiation on Agreement on Agriculture (AOA) will also begin. It is time to take a retros...

by Satish Y Deodhar | On 14 Mar 2007

Cropping in Arid Area Greenhouse

In hot, arid regions, yields are low and unstable, growing season limited to one. Greenhouses can stabilize and improve yields and extend seasons. But their adoption is impeded by the requirement of l...

by Sharan G | On 08 Mar 2007

Outlays Only, Not Outcomes?

The Budget does not sufficiently recognize the need for re-balancing the role of the state and the market, and of the public and the private sectors for managing increasingly complex economic and stra...

by Mukul Asher | On 07 Mar 2007

Fiscal Deficit, Capital Formation, and Crowding Out : Evidence from India

Theoretical literature identifies two variants of crowding out in an economy–real and financial. The real (direct) crowding out occurs when the increase in public investment displaces private capital...

by Lekha S. Chakraborty | On 17 Feb 2007

What Drives Forward Premia in Indian Forex Market?

This paper explores the behaviour of the forward premia for US$ vis-à-vis INR during the five-year period of September 2000 to September 2005. Indian forex market experienced a peculiar phenomenon i...

by Anil Kumar Sharma | On 10 Jan 2007

Midterm Review of Annual Policy Statement for the year 2006-07

* Repo Rate increased to 7.25 per cent from 7.0 per cent. * The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholl...

by Reserve Bank of India | On 31 Oct 2006

The Future of Drug Development: the Economics of Pharmacogenomics

This paper models how the evolving field of pharmacogenomics (PG), which is the science of using genomic markers to predict drug response, may impact drug development times, attrition rates, costs,and...

by John A. Vernon | On 17 Aug 2006

Population Ageing and Health in India

The number of elderly in the developing countries has been growing at a phenomenal rate; in 1990 the population of 60 years and above in the developing countries exceeded that of the developed countri...

by S. Irudaya Rajan | On 24 Apr 2006

India Needs to Separate Debt from Monetary Management

The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separ...

by Charan Singh | On 14 Apr 2006

Mirrors of Value? Advertising and Political Theatre in the Hegemonic Construction of Women in India

'Fair and Lovely’ fairness cream (FAL) advertisements and plays by Jana Natya Manch (Janam) are cultural representations that make particular claims about Indian women’s value and what they value. For...

by Dia Mohan | On 01 Apr 2006

Why is Exchange Rate Pass-through So Low?

Policy makers are particularly concerned about the extent and speed of exchange rate pass-through into domestic prices. However, in recent times there seems to be a growing degree of disconnect betw...

by Amit Ghosh | On 14 Mar 2006

The Extent of Exchange Rate Flexibility in India: Basket Pegger or Closet US Dollar Pegger?

This paper examines the degree of de facto exchange rate flexibility for India over the last two decades. While there is a diversity of methods that measure de facto exchange rate regimes, none indivi...

by Tony Cavoli | On 08 Mar 2006

Economic Survey 2005-06, Chapter 8

Agriculture

by Ministry of Finance | On 27 Feb 2006

Economic Survey 2005-06, Chapter 6

External Sector

by Ministry of Finance | On 27 Feb 2006

Economic Survey 2005-06, Chapter 4

Securities Markets

by Ministry of Finance | On 27 Feb 2006

Economic Survey 2005-06, chapter 3

Monetary and Banking Developments

by Ministry of Finance | On 27 Feb 2006

Economic Survey 2005-06,Chapter 2

Public Finance

by Ministry of Finance | On 27 Feb 2006

Macroeconomic and Monetary Developments: Third Quarter Review, 2005-06

The robust performance of the Indian economy continued during the second quarter (July-September) of 2005-06. According to the Central Statistical Organisation (CSO), the economy recorded a real GDP...

by Reserve Bank of India | On 02 Feb 2006

Raising the Tax Ratio by Reining in the 'Tax Breaks': An Agenda for Action

The increase in direct taxes has not been able to offset the decline that resulted from the reduction in customs tariff and decline in excise revenue. The task facing the policymakers now is to explor...

by Amaresh Bagchi | On 01 Feb 2006

The Social Cost of Foreign Exchange Reserves

There has been a very rapid rise since the early 1990s in foreign reserves held by developing countries. These reserves have climbed to almost 30 percent of developing countries' GDP and 8 months of i...

by Dani Rodrik | On 27 Jan 2006

Real Sector Shocks and Monetary Policy Responses in a in a financially vulnerable Emerging Economy

When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates...

by Ramkishen S. Rajan | On 27 Jan 2006

Macroeconomic and Monetary Developments: Third Quarter Review 2005-06

Contents I. The Real Economy -- 1 Agricultural Situation Industrial Performance Business Expectations Surveys Services Sector II. Fiscal Situation 14 Combined Government Fi...

by Reserve Bank of India | On 25 Jan 2006

Inflation Targeting Arrangements in Asia: Exploring the rate of the Exchange rate

Since the Asian crisis it has been recognized that exchange rate and monetary policy strategies must involve a “fairly high” element of flexibility rather than a single-minded defense of a particular...

by Ramkishen S. Rajan | On 19 Jan 2006

Controlled Capital Account Liberalisation: A Proposal

This paper outlines a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a portion o...

by Eswar S. Prasad | On 09 Dec 2005

Dictatorship, Democracy and Institutions: Macropolicy in China and India

We explore the hypothesis that macroeconomic polices are influenced by political structure, through a systematic comparison of reform period macroeconomic policy choices and outcomes, in China and Ind...

by Ashima Goyal | On 23 Nov 2005

Asian Reserves and the Dollar: Is Gradual Adjustment Possible?

Large dollar reserves in Asian EMEs accompany large U.S. fiscal and current account deficits. Analysis of strategic sales by Asian EMEs suggests that an attack on the dollar is not certain but is poss...

by Ashima Goyal | On 21 Nov 2005

Demographics And Global Savings Glut

There is growing evidence that demographic changes have played an important role in driving Asia’s economic transformation by generating high savings rates.In this report, the author argues that high...

by Sanjeev Sanyal | On 01 Sep 2005

Infant And Under-Five Mortality In India: Levels, Patterns And Correlates

General economic growth (resulting in higher living standards), improved infrastructure, and greater child immunization coverage will be essential in lowering infant and under-five mortality rates in...

by Anil B. Deolikar | On 26 Aug 2005

Designing A Best Reponse With A Human Face In The Context Of Paradigm Shift In Macroeconomic Management: A Case For Civil Society Intervention

The paper is intended to serve as a background note for the seminar organised by KSWA. It looks at the paradigmatic change in the Indian economic environment and situates the 74th CAA in the context....

by Abhay Pethe | On 05 Aug 2005