The major macroeconomic goals are to boost output and employment levels and maintaining price stability. Two mainstream polices tasked with regulating the economy to achieve these multiple goals are monetary and fiscal policies. These policies use different instruments to influence the attainment of the objectives and their impacts differ in magnitude and duration. According to monetarists, the impact of monetary policy outweighs that of fiscal policy; while Keynesians posit that fiscal policy measures are critical for the stimulation of growth. Through these policies, countries try to map a sustainable and inclusive economic growth path. However, low economic growth rates in these countries have become a growing concern with policy prescriptions. Theoretical and empirical research on the relative power of monetary and fiscal policy to affect economic growth is inconclusive.
In this paper, the relative effectiveness of monetary and fiscal policies in stimulating real output in five Caricom member states is investigated, using a modified St. Louis equation within a vector auto-regression framework. In four of the five countries, real money supply affected RGDP negatively, with the exception of Trinidad and Tobago.
The contribution of expenditure to national income was negative in Barbados, Belize and Trinidad and Tobago, but positive for Guyana and Jamaica.
{"title":"An Analysis of the Relative Effectiveness of Monetary and Fiscal Policies on Economic Performance in Five CARICOM Member States: Barbados, Belize, Guyana, Jamaica and Trinidad and Tobago","authors":"Samuel P. Indalmanie","doi":"10.2139/ssrn.3663181","DOIUrl":"https://doi.org/10.2139/ssrn.3663181","url":null,"abstract":"The major macroeconomic goals are to boost output and employment levels and maintaining price stability. Two mainstream polices tasked with regulating the economy to achieve these multiple goals are monetary and fiscal policies. These policies use different instruments to influence the attainment of the objectives and their impacts differ in magnitude and duration. According to monetarists, the impact of monetary policy outweighs that of fiscal policy; while Keynesians posit that fiscal policy measures are critical for the stimulation of growth. Through these policies, countries try to map a sustainable and inclusive economic growth path. However, low economic growth rates in these countries have become a growing concern with policy prescriptions. Theoretical and empirical research on the relative power of monetary and fiscal policy to affect economic growth is inconclusive.<br><br>In this paper, the relative effectiveness of monetary and fiscal policies in stimulating real output in five Caricom member states is investigated, using a modified St. Louis equation within a vector auto-regression framework. In four of the five countries, real money supply affected RGDP negatively, with the exception of Trinidad and Tobago. <br><br>The contribution of expenditure to national income was negative in Barbados, Belize and Trinidad and Tobago, but positive for Guyana and Jamaica.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132202789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-27DOI: 10.17577/ijertv9is070545
S. Pandey, Snigdha Gupta, S. Chhajed
COVID-19, outbreak since December 2019, has impacted more than 150 countries as of May 2020. The uncertainty prevails with no cure and vaccine for this pandemic, and the economic situation worsens globally. Indian economy contracts as this uncertainty prolongs. Companies and business need a proper data driven guidance system to suggest their recovery trajectory and also give them optimal prioritization of their resources and operations to reduce unnecessary cash burn and sustain themselves in these unforeseen times. This should be addressed by looking into all local and global economic parameters, current market dynamics, consumer purchase intent and shift in behavior. Ensemble framework to integrate various econometric models, and mathematical constructs are used to further simulate various shock/stress scenarios to identify the pace and path to recovery for different businesses in the short-term and long- term perspectives. Hence this paper attempts at quantifying the impact of COVID-19 on different business sectors and their comeback strategy by analyzing all different self/competitive/market indicators.
{"title":"3Ps- Path, Pace and Pattern of Recovery from COVID-19 for Different Businesses in Indian Market","authors":"S. Pandey, Snigdha Gupta, S. Chhajed","doi":"10.17577/ijertv9is070545","DOIUrl":"https://doi.org/10.17577/ijertv9is070545","url":null,"abstract":"COVID-19, outbreak since December 2019, has impacted more than 150 countries as of May 2020. The uncertainty prevails with no cure and vaccine for this pandemic, and the economic situation worsens globally. Indian economy contracts as this uncertainty prolongs. Companies and business need a proper data driven guidance system to suggest their recovery trajectory and also give them optimal prioritization of their resources and operations to reduce unnecessary cash burn and sustain themselves in these unforeseen times. This should be addressed by looking into all local and global economic parameters, current market dynamics, consumer purchase intent and shift in behavior. Ensemble framework to integrate various econometric models, and mathematical constructs are used to further simulate various shock/stress scenarios to identify the pace and path to recovery for different businesses in the short-term and long- term perspectives. Hence this paper attempts at quantifying the impact of COVID-19 on different business sectors and their comeback strategy by analyzing all different self/competitive/market indicators.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117346791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pablo Celhay, Emilio Depetris-Chauvín, C. Riquelme
We empirically study the impact of massive and sudden school closures on teenage pregnancy, following the 2011 nationwide student strike in Chile. Temporary high schools’ shutdown increases teenage pregnancies in 1.5% on average, while places in the highest tercile of strike exposure experienced an increase of 5%. This effect vanishes three quarters after the strike’s onset and is entirely driven by first-time mothers. The sudden and unexpected closure of schools allows interpreting these findings as mirroring an incapacitation effect of schools rather than human capital accumulation as a mechanism for the causal relationship between students’ strikes and teenage pregnancies.
{"title":"When a Strike Strikes Twice: Massive Student Mobilizations and Teenage Pregnancy in Chile","authors":"Pablo Celhay, Emilio Depetris-Chauvín, C. Riquelme","doi":"10.2139/ssrn.3651500","DOIUrl":"https://doi.org/10.2139/ssrn.3651500","url":null,"abstract":"We empirically study the impact of massive and sudden school closures on teenage pregnancy, following the 2011 nationwide student strike in Chile. Temporary high schools’ shutdown increases teenage pregnancies in 1.5% on average, while places in the highest tercile of strike exposure experienced an increase of 5%. This effect vanishes three quarters after the strike’s onset and is entirely driven by first-time mothers. The sudden and unexpected closure of schools allows interpreting these findings as mirroring an incapacitation effect of schools rather than human capital accumulation as a mechanism for the causal relationship between students’ strikes and teenage pregnancies.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127392634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the role of institutional infrastructures in the financial inclusion-growth nexus for a panel of twenty countries in sub-Sahara Africa (SSA).Employing the System Generalized Method of Moments (GMM), the following insightful outcomes are established. First, while there is an unrestricted positive impact of physical access to ATMs and ICT measures of financial inclusion on SSA’s growth but only the former was found significant. Second, the four institutional components via economic, political, institutional and general governances were also found to be growth-spurring. Lastly, countries with low levels of real per capita income are matching up with other countries with high levels of real income per capita. The empirical evidence of some negative net effects and insignificant marginal impacts are indication that imperfections in the financial markets are sometimes employed to the disadvantage of the poor. On the whole, we established positive effects on growth for the most part. The positive effects are evident because the governance indicators compliment financial inclusion in reducing pecuniary constraints hindering credit access and allocation to the poor that deteriorate growth.
{"title":"The Role of Institutional Infrastructures in Financial Inclusion-Growth Relations: Evidence from SSA","authors":"K. Ajide, O. Alimi, S. Asongu, I. Raheem","doi":"10.2139/ssrn.3647533","DOIUrl":"https://doi.org/10.2139/ssrn.3647533","url":null,"abstract":"This paper investigates the role of institutional infrastructures in the financial inclusion-growth nexus for a panel of twenty countries in sub-Sahara Africa (SSA).Employing the System Generalized Method of Moments (GMM), the following insightful outcomes are established. First, while there is an unrestricted positive impact of physical access to ATMs and ICT measures of financial inclusion on SSA’s growth but only the former was found significant. Second, the four institutional components via economic, political, institutional and general governances were also found to be growth-spurring. Lastly, countries with low levels of real per capita income are matching up with other countries with high levels of real income per capita. The empirical evidence of some negative net effects and insignificant marginal impacts are indication that imperfections in the financial markets are sometimes employed to the disadvantage of the poor. On the whole, we established positive effects on growth for the most part. The positive effects are evident because the governance indicators compliment financial inclusion in reducing pecuniary constraints hindering credit access and allocation to the poor that deteriorate growth.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123442709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
K. O. Wonyra, Honoré Tenakoua, Yacobou Sanoussi, K. Baita
This research analyses the effects of structural transformation on sectoral employment and sectoral labour productivity in WAEMU countries. To achieve this, the methodological approach adopted consists of decomposing the economy into three sectors, namely agriculture, industry and services. The results show that the agricultural sector employs 70% of the available labour force as against 10% and 20% respectively for the industrial and service sectors. In terms of value-added, the agricultural (rural) sector and the service sector contribute 40% each against 20% for the industrial sector to the Gross Domestic Product (GDP) for the Sahelian countries. For all WAEMU countries as a whole, the agricultural sector accounts for 30%, industry for 20% and services for 50%. Reallocation effects show that the service sector is the sector benefiting from a better reallocation of the labour factor. This reallocation effect is very pronounced in Burkina Faso compared to all Sahelian countries and all WAEMU countries.
{"title":"Structural Transformation and Labour Force Reallocation Effects: Evidence From West African Economic and Monetary Union (WAEMU)","authors":"K. O. Wonyra, Honoré Tenakoua, Yacobou Sanoussi, K. Baita","doi":"10.2139/ssrn.3646344","DOIUrl":"https://doi.org/10.2139/ssrn.3646344","url":null,"abstract":"This research analyses the effects of structural transformation on sectoral employment and sectoral labour productivity in WAEMU countries. To achieve this, the methodological approach adopted consists of decomposing the economy into three sectors, namely agriculture, industry and services. The results show that the agricultural sector employs 70% of the available labour force as against 10% and 20% respectively for the industrial and service sectors. In terms of value-added, the agricultural (rural) sector and the service sector contribute 40% each against 20% for the industrial sector to the Gross Domestic Product (GDP) for the Sahelian countries. For all WAEMU countries as a whole, the agricultural sector accounts for 30%, industry for 20% and services for 50%. Reallocation effects show that the service sector is the sector benefiting from a better reallocation of the labour factor. This reallocation effect is very pronounced in Burkina Faso compared to all Sahelian countries and all WAEMU countries.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127345776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research is an analytical scrutiny of the nexus between poverty alleviation programmes and the empowerment of Nigerian youths for productivity and entrepreneurship from 1999-2015. The research paper looks into the goals and objectives of the various programmes designed by relevant government’s institutions from 1999-2015 to eradicate spiraling poverty by absorbing the youths into lucrative economic activities. Having relied on content analysis and review of government data, the research is able to chronicle the factors that have contributed severely to the growing poverty index and human capital depletion in Nigerian ecosystem. However, the research analysis points to the implementation paradoxes that have beclouded the human empowerment programmes in Nigeria. The paper consequently concludes that poverty alleviation programmes in Nigeria have fallen short of empowering the youths for productivity and innovation. It further concludes that, in spite of the resources devoted to implementing poverty alleviation programmes, youth’s unemployment and manpower dissipation are still spiraling in Nigeria. It is therefore recommended that appropriate policy measures and programme re-modification are imperative for youth engagement and empowerment in Nigeria.
{"title":"Poverty Alleviation Programmes and Sustainable Youth Empowerment in Nigeria","authors":"O. O. Olagunju","doi":"10.2139/ssrn.3636948","DOIUrl":"https://doi.org/10.2139/ssrn.3636948","url":null,"abstract":"This research is an analytical scrutiny of the nexus between poverty alleviation programmes and the empowerment of Nigerian youths for productivity and entrepreneurship from 1999-2015. The research paper looks into the goals and objectives of the various programmes designed by relevant government’s institutions from 1999-2015 to eradicate spiraling poverty by absorbing the youths into lucrative economic activities. Having relied on content analysis and review of government data, the research is able to chronicle the factors that have contributed severely to the growing poverty index and human capital depletion in Nigerian ecosystem. However, the research analysis points to the implementation paradoxes that have beclouded the human empowerment programmes in Nigeria. The paper consequently concludes that poverty alleviation programmes in Nigeria have fallen short of empowering the youths for productivity and innovation. It further concludes that, in spite of the resources devoted to implementing poverty alleviation programmes, youth’s unemployment and manpower dissipation are still spiraling in Nigeria. It is therefore recommended that appropriate policy measures and programme re-modification are imperative for youth engagement and empowerment in Nigeria.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"125 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121534726","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-26DOI: 10.31014/aior.1991.03.02.188
Stephen Mwansa, Junaid M. Shaikh, Phillip Mubanga
Special Economic Zones are geographical areas allocated and designated to attract foreign investment, enhance industrialization, and spur economic development of the identified jurisdiction. The trade laws applicable in the Economic Zone are different from those used by the rest of the country. Investors are offered tax and several other incentives to set up businesses. It is envisaged the Zones can be effective special purpose vehicles to deliver industrialization and structural transformation. However, the aims of the Zones are achievable only if the development programme was properly crafted and correctly implemented. Worldwide, for over 50 years many countries have established and experimented the concept of Economic Zones albeit with, mixed results. This preliminary article based on an active research attempts to present the interim results of the Lusaka South Multi Facility Economic Zone (LS-MFEZ) in Zambia. There have been variations in terms of progress and performance of the projects undertaken, some of which are at the formative stage. The objectives of the study among others is to establish the reasons behind the slow uptake of investment space in LS-MFEZ. The study focuses on businesses that have invested in the Lusaka South Multi Facility Economic Zone, and those that have expressed interest to invest. This study embraces a mixed-methods model comprising qualitative and quantitative research approaches. The interim findings indicate that investors face several challenges in starting businesses in the Zone, besides the inappropriate Zone infrastructure. Furthermore, some incentives the government had put in place are not the primary factors attracting Investors.
{"title":"Special Economic Zones: An Evaluation of Lusaka South - Multi Facility Economic Zone","authors":"Stephen Mwansa, Junaid M. Shaikh, Phillip Mubanga","doi":"10.31014/aior.1991.03.02.188","DOIUrl":"https://doi.org/10.31014/aior.1991.03.02.188","url":null,"abstract":"Special Economic Zones are geographical areas allocated and designated to attract foreign investment, enhance industrialization, and spur economic development of the identified jurisdiction. The trade laws applicable in the Economic Zone are different from those used by the rest of the country. Investors are offered tax and several other incentives to set up businesses. It is envisaged the Zones can be effective special purpose vehicles to deliver industrialization and structural transformation. However, the aims of the Zones are achievable only if the development programme was properly crafted and correctly implemented. Worldwide, for over 50 years many countries have established and experimented the concept of Economic Zones albeit with, mixed results. This preliminary article based on an active research attempts to present the interim results of the Lusaka South Multi Facility Economic Zone (LS-MFEZ) in Zambia. There have been variations in terms of progress and performance of the projects undertaken, some of which are at the formative stage. The objectives of the study among others is to establish the reasons behind the slow uptake of investment space in LS-MFEZ. The study focuses on businesses that have invested in the Lusaka South Multi Facility Economic Zone, and those that have expressed interest to invest. This study embraces a mixed-methods model comprising qualitative and quantitative research approaches. The interim findings indicate that investors face several challenges in starting businesses in the Zone, besides the inappropriate Zone infrastructure. Furthermore, some incentives the government had put in place are not the primary factors attracting Investors.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127514647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the take-up, use, and impact of Islamic savings accounts for poor Muslim clients of an MFI in Pakistan, using a randomized controlled trial. We specifically focus on the impact of opening Islamic savings accounts on women’s empowerment. The main results strongly suggest that a successful intervention to increase uptake of savings among a sample of mainly poor, Islamic women needs to address a combination of economic external constraints (being illiterate, facing credit constraints) and internal constraints, shaped by religious and cultural barriers. We find strong evidence that women who have opened savings accounts obtain more bargaining power with respect to health and marriage-related issues. Moreover, they display a much higher degree of self-esteem, which may provide a basis for gaining more bargaining power relative to their spouses or parents. Thus, an active policy that motivates poor Islamic women to open savings accounts may be an effective strategy to kick-start a process of women’s empowerment.
{"title":"Uptake, Use, and Impact of Islamic Savings: Evidence from a Field Experiment in Pakistan","authors":"S. Ahmad, R. Lensink, Annika Mueller","doi":"10.2139/ssrn.3743428","DOIUrl":"https://doi.org/10.2139/ssrn.3743428","url":null,"abstract":"This study examines the take-up, use, and impact of Islamic savings accounts for poor Muslim clients of an MFI in Pakistan, using a randomized controlled trial. We specifically focus on the impact of opening Islamic savings accounts on women’s empowerment. The main results strongly suggest that a successful intervention to increase uptake of savings among a sample of mainly poor, Islamic women needs to address a combination of economic external constraints (being illiterate, facing credit constraints) and internal constraints, shaped by religious and cultural barriers. We find strong evidence that women who have opened savings accounts obtain more bargaining power with respect to health and marriage-related issues. Moreover, they display a much higher degree of self-esteem, which may provide a basis for gaining more bargaining power relative to their spouses or parents. Thus, an active policy that motivates poor Islamic women to open savings accounts may be an effective strategy to kick-start a process of women’s empowerment.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"65 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120860080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Amsalu K. Addis, S. Asongu, Zhu Zuping, H. Addis, Eshetu Shifaw
PurposeThe aim of this study is to examine the motive of China's and India's engagement in African countries particularly in Ethiopia and to address the land grabbing and debt-trap diplomacy between Ethiopia and the Asian drivers, which creates challenges across the diverse social, political, economic and ecological contexts.Design/methodology/approachThis study utilises both primary and secondary data. The available literature is also reviewed. The primary data were gathered through semi-structured interviews and discussions from (1) several authority offices in Ethiopia, sources close to authorities, information-rich informants, employees and (2) perspectives, perceptions and prospects from individual members of society.FindingsThe study unmasks the win-win cooperation strategy from the perspective of the members of society in Ethiopia, evaluates whether China and India have strings attached or land grabbing motives. The study also shows that whether China's and India's move was deliberate, the implications of debt-trap diplomacy and exploitation in Ethiopia are apparent. Additionally, this study investigated several considerable potential threats to Ethiopia that will persist unless significant measures are taken to control the relations with Asian drivers.Research limitations/implicationsSome of the limitations of this paper pertain to the primary data collection process from the Ethiopian Investment Commission (EIC) and other authorities, which was very challenging because people can be punished for talking to journalists or researchers. Furthermore, some investors were not willing to participate in discussions because they were engaged in areas that are not related to their licenses. Many interviewees were also not willing to disclose their names, and the data are not exhaustive in the number of investment projects covered.Originality/valueThis study provides new evidence on the influence of Chinese and Indian investment, aid and trade on Ethiopia's social, political and economic spheres. Additionally, this study contributes to the ongoing debate on land grabbing and debt-trap diplomacy in Ethiopia.
{"title":"Chinese and Indian Investment in Ethiopia: Infrastructure for ‘Debt-Trap Diplomacy’ Exchange and the Land Grabbing Approach","authors":"Amsalu K. Addis, S. Asongu, Zhu Zuping, H. Addis, Eshetu Shifaw","doi":"10.2139/ssrn.3618613","DOIUrl":"https://doi.org/10.2139/ssrn.3618613","url":null,"abstract":"PurposeThe aim of this study is to examine the motive of China's and India's engagement in African countries particularly in Ethiopia and to address the land grabbing and debt-trap diplomacy between Ethiopia and the Asian drivers, which creates challenges across the diverse social, political, economic and ecological contexts.Design/methodology/approachThis study utilises both primary and secondary data. The available literature is also reviewed. The primary data were gathered through semi-structured interviews and discussions from (1) several authority offices in Ethiopia, sources close to authorities, information-rich informants, employees and (2) perspectives, perceptions and prospects from individual members of society.FindingsThe study unmasks the win-win cooperation strategy from the perspective of the members of society in Ethiopia, evaluates whether China and India have strings attached or land grabbing motives. The study also shows that whether China's and India's move was deliberate, the implications of debt-trap diplomacy and exploitation in Ethiopia are apparent. Additionally, this study investigated several considerable potential threats to Ethiopia that will persist unless significant measures are taken to control the relations with Asian drivers.Research limitations/implicationsSome of the limitations of this paper pertain to the primary data collection process from the Ethiopian Investment Commission (EIC) and other authorities, which was very challenging because people can be punished for talking to journalists or researchers. Furthermore, some investors were not willing to participate in discussions because they were engaged in areas that are not related to their licenses. Many interviewees were also not willing to disclose their names, and the data are not exhaustive in the number of investment projects covered.Originality/valueThis study provides new evidence on the influence of Chinese and Indian investment, aid and trade on Ethiopia's social, political and economic spheres. Additionally, this study contributes to the ongoing debate on land grabbing and debt-trap diplomacy in Ethiopia.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114184221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
On November 8, 2016, the Indian government abruptly demonetized 86% of its currency in circulation in an attempt to reduce black money, corruption, and counterfeiting. Yet, 99% of the currency was eventually returned to banks. We use both, regional and household data to examine the medium-term effects of this policy.
Using monthly night-light data, we show that districts which experienced higher deposit growth during the demonetization period recorded higher levels of economic activity in the year and a half that followed. We estimate a one standard deviation increase in deposits is associated with about 4% increase in district GDP per capita. We also show the districts that experienced large deposit increases from demonetization are generally poorer, or worse off, in several widely used measures of socio-economic characteristics. Using a longitudinal survey of household expenditures and incomes, we also show that poorer households had larger increases in expenditures and incomes in the following eighteen months.
{"title":"Was India's Demonetization Redistributive? Insights from Satellites and Surveys.","authors":"A. Chanda, C. Cook","doi":"10.2139/ssrn.3608402","DOIUrl":"https://doi.org/10.2139/ssrn.3608402","url":null,"abstract":"On November 8, 2016, the Indian government abruptly demonetized 86% of its currency in circulation in an attempt to reduce black money, corruption, and counterfeiting. Yet, 99% of the currency was eventually returned to banks. We use both, regional and household data to examine the medium-term effects of this policy. <br><br>Using monthly night-light data, we show that districts which experienced higher deposit growth during the demonetization period recorded higher levels of economic activity in the year and a half that followed. We estimate a one standard deviation increase in deposits is associated with about 4% increase in district GDP per capita. We also show the districts that experienced large deposit increases from demonetization are generally poorer, or worse off, in several widely used measures of socio-economic characteristics. Using a longitudinal survey of household expenditures and incomes, we also show that poorer households had larger increases in expenditures and incomes in the following eighteen months.","PeriodicalId":105668,"journal":{"name":"Development Economics: Regional & Country Studies eJournal","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133016816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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