Pub Date : 1900-01-01DOI: 10.56902/irbe.2020.4.2.49
S. Nair
The rate of unemployment in India has been increasing over the years. The current paper aims to analyze the factors leading to unemployment and its impact on the Indian economy. The study focusses on how employment rate plays a major role in overall development of the economy. The study makes use of secondary data sources and focusses on the present scenario of unemployment in rural and urban areas. The paper analyzes how an increase in population, poverty, illiteracy, inflation and lack of full employment can lead to a slowdown in the growth of the economy. The paper discusses the problems faced by the economy due to high rate of unemployment and recommends strategies to improve the current status of employment in the country.
{"title":"A Study On The Causes And Impact Of Unemployment In India","authors":"S. Nair","doi":"10.56902/irbe.2020.4.2.49","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.2.49","url":null,"abstract":"The rate of unemployment in India has been increasing over the years. The current paper aims to analyze the factors leading to unemployment and its impact on the Indian economy. The study focusses on how employment rate plays a major role in overall development of the economy. The study makes use of secondary data sources and focusses on the present scenario of unemployment in rural and urban areas. The paper analyzes how an increase in population, poverty, illiteracy, inflation and lack of full employment can lead to a slowdown in the growth of the economy. The paper discusses the problems faced by the economy due to high rate of unemployment and recommends strategies to improve the current status of employment in the country.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133681757","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 : 1900-01-01DOI: 10.56902/irbe.2020.4.2.11
B. Praveen
Work-Life Balance does not mean an equal balance. Trying to schedule an equal number of hours for each of your various work and personal activities is usually unrewarding and unrealistic. Purpose: Work Life Balance (WLB) is one of the important issues in corporate sector. However, there is a need to know the balancing level of teachers with regard to both their work and family or personal life. Thus, the purpose of this study is to map the dimensions of WLB among teachers. Design/methodology/approach: This study is based on the responses of teachers of private degree colleges surrounding Shivamogga City. The data for the study was collected from 108 teachers working private colleges and professional courses. Findings: The findings of the study indicate that there is a need for designing WLB policies and programs for the teaching community to enable them to balance their work and life needs. Managerial implications: This study may give insight regarding the problem that teachers usually face. Balance should be established between workload distribution, time and extra-curricular activities so as to inculcate efficiency among teachers. Research Limitations: The study is based on a limited sample size. There is a need to carry out studies with a larger sample size to make results more generalizable.
{"title":"Work-Life Balance Of Teaching Professionals","authors":"B. Praveen","doi":"10.56902/irbe.2020.4.2.11","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.2.11","url":null,"abstract":"Work-Life Balance does not mean an equal balance. Trying to schedule an equal number of hours for each of your various work and personal activities is usually unrewarding and unrealistic. Purpose: Work Life Balance (WLB) is one of the important issues in corporate sector. However, there is a need to know the balancing level of teachers with regard to both their work and family or personal life. Thus, the purpose of this study is to map the dimensions of WLB among teachers. Design/methodology/approach: This study is based on the responses of teachers of private degree colleges surrounding Shivamogga City. The data for the study was collected from 108 teachers working private colleges and professional courses. Findings: The findings of the study indicate that there is a need for designing WLB policies and programs for the teaching community to enable them to balance their work and life needs. Managerial implications: This study may give insight regarding the problem that teachers usually face. Balance should be established between workload distribution, time and extra-curricular activities so as to inculcate efficiency among teachers. Research Limitations: The study is based on a limited sample size. There is a need to carry out studies with a larger sample size to make results more generalizable.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132518030","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 : 1900-01-01DOI: 10.56902/irbe.2020.4.2.51
M. Sivanya
The contemporary generous, capitalistic and economic action becomes a conglomerate of things and reasons, analysis, information, means, mediums, skills and predispositions. In terms of minimized barriers and openness of the world, the inevitable process of the globalization and thus the business actions represent projects that face success potentials, also as risk and failure potentials. The indisputable accent on these aspects is certainly and thus success and therefore the reliability of the business ventures that the last word goal is that the economic satisfaction, minimizing the risks as well because the establishment of long-term experiences so as to take care of a specific enterprise during a particular environment. The participation on the world’s global markets, the internationalization and therefore the transfer of the business activities on all geographic meridians, encountering different and sometimes uncertain environments may be a constant business story of the international economic activity for a minimum of three centuries ago. The global economic interaction is as old because it is old the society in its more or less organized form. From the economic revolution until today, there’s ongoing irreversible global economic integration. The reasons are simple, business and profits don’t recognize borders, national and cultural unsurpassed characteristics, where more or less a mutual advantage of certain cooperation is recognized, a business connection is immediately established.
{"title":"A Study On Impact Of Globalization On Business","authors":"M. Sivanya","doi":"10.56902/irbe.2020.4.2.51","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.2.51","url":null,"abstract":"The contemporary generous, capitalistic and economic action becomes a conglomerate of things and reasons, analysis, information, means, mediums, skills and predispositions. In terms of minimized barriers and openness of the world, the inevitable process of the globalization and thus the business actions represent projects that face success potentials, also as risk and failure potentials. The indisputable accent on these aspects is certainly and thus success and therefore the reliability of the business ventures that the last word goal is that the economic satisfaction, minimizing the risks as well because the establishment of long-term experiences so as to take care of a specific enterprise during a particular environment. The participation on the world’s global markets, the internationalization and therefore the transfer of the business activities on all geographic meridians, encountering different and sometimes uncertain environments may be a constant business story of the international economic activity for a minimum of three centuries ago. The global economic interaction is as old because it is old the society in its more or less organized form. From the economic revolution until today, there’s ongoing irreversible global economic integration. The reasons are simple, business and profits don’t recognize borders, national and cultural unsurpassed characteristics, where more or less a mutual advantage of certain cooperation is recognized, a business connection is immediately established.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134268085","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 : 1900-01-01DOI: 10.56902/irbe.2018.1.3.20
R. Dhanalakshmi
Environmental pollution is a severe issue in both developed and developing countries. Pollution is defined undesirable state of natural environment being contaminated with harmful substances as a consequence of human activities. There is clear relationship between the growth manmade green house gas emissions and observed environmental climate change are claimed by policymakers. The most important causes of air pollution are human economic activities such as use of vehicles and industrial operations mainly in Chennai city. Air pollution is various types such as noise, water, air. It causes damages that are normally inflicted in society at large rather than on those directly responsible. In several city air is already polluted that it has been causing illness and deaths among elderly people and children. The high pollution density has placed great strain on available infrastructure and major problem for environmental in major cities of Tamil Nadu. It is recognized that climate change due to global warming going to important threat safety of millions of people not only living near coastline but also impacts on changing cyclones. The aim of the study focuses on objectives to environment in Chennai city to estimate the problems of air pollution environment in Challenge in Chennai city and suggest health cost of vehicular pollution and to suggest the Government measure to control air pollution in environment Chennai city.
{"title":"A Study on Air Pollution and Environmental Challenges in Chennai City","authors":"R. Dhanalakshmi","doi":"10.56902/irbe.2018.1.3.20","DOIUrl":"https://doi.org/10.56902/irbe.2018.1.3.20","url":null,"abstract":"Environmental pollution is a severe issue in both developed and developing countries. Pollution is defined undesirable state of natural environment being contaminated with harmful substances as a consequence of human activities. There is clear relationship between the growth manmade green house gas emissions and observed environmental climate change are claimed by policymakers. The most important causes of air pollution are human economic activities such as use of vehicles and industrial operations mainly in Chennai city. Air pollution is various types such as noise, water, air. It causes damages that are normally inflicted in society at large rather than on those directly responsible. In several city air is already polluted that it has been causing illness and deaths among elderly people and children. The high pollution density has placed great strain on available infrastructure and major problem for environmental in major cities of Tamil Nadu. It is recognized that climate change due to global warming going to important threat safety of millions of people not only living near coastline but also impacts on changing cyclones. The aim of the study focuses on objectives to environment in Chennai city to estimate the problems of air pollution environment in Challenge in Chennai city and suggest health cost of vehicular pollution and to suggest the Government measure to control air pollution in environment Chennai city.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133143249","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 : 1900-01-01DOI: 10.56902/irbe.2020.4.2.35
J. S. Parimala
Health of the economy is an integral part of development and it is determined by the socio – economic factors like education, employment, population growth, income and environment. If the economy is not healthy internally, then it will not be able to interact effectively externally. Economists use a variety of indicators to assess the performance of the economy at a given time. By looking at changes in GDP we can see whether the economy is growing. GDP doesn’t necessarily tell us much about the state of the economy. But change in GDP does. If GDP goes up, the economy is growing. If it goes down, the economy is contracting. To a certain extent, we can forecast future economic trends by analysing several leading economic indicators. Many different economic indicators are tracked in order to evaluate the health of economy in different ways or from different perspectives. To keep the economy growing strong, people must spend money on goods and services. A reduction in personal expenditures for things like food, clothing, appliances, automobiles, housing, and medical care could severely reduce GDP and weaken the economy. When an economic indicator is a statistic that will provides valuable information about the economy health. The majority of economic indicators are collected and released by government and/or non- profit groups. Thus, economists and businesspeople typically track only a select few that are most pertinent to their professional, financial and economic interests.
{"title":"Health Of The Economy And Its Measuring Indicators","authors":"J. S. Parimala","doi":"10.56902/irbe.2020.4.2.35","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.2.35","url":null,"abstract":"Health of the economy is an integral part of development and it is determined by the socio – economic factors like education, employment, population growth, income and environment. If the economy is not healthy internally, then it will not be able to interact effectively externally. Economists use a variety of indicators to assess the performance of the economy at a given time. By looking at changes in GDP we can see whether the economy is growing. GDP doesn’t necessarily tell us much about the state of the economy. But change in GDP does. If GDP goes up, the economy is growing. If it goes down, the economy is contracting. To a certain extent, we can forecast future economic trends by analysing several leading economic indicators. Many different economic indicators are tracked in order to evaluate the health of economy in different ways or from different perspectives. To keep the economy growing strong, people must spend money on goods and services. A reduction in personal expenditures for things like food, clothing, appliances, automobiles, housing, and medical care could severely reduce GDP and weaken the economy. When an economic indicator is a statistic that will provides valuable information about the economy health. The majority of economic indicators are collected and released by government and/or non- profit groups. Thus, economists and businesspeople typically track only a select few that are most pertinent to their professional, financial and economic interests.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124303385","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 : 1900-01-01DOI: 10.56902/irbe.2019.3.1.2
Prashanta Banerjee, M. Rahman
This paper studies the contributions of bank-based financing to agriculture, SMEs and non-SMEs in the overall poverty reduction in Bangladesh. Annual data are used from 1980 to 2015. ARDL bounds testing approach is applied for evidence of cointegration among the variables and VECM is subsequently estimated. The empirical results show that financing of non-SMEs significantly reduces overall poverty in the long run. To this effect, SMEs play a marginal role in the current state of affairs. In contrast, agricultural financing reveals, otherwise.
{"title":"Contributions of Agriculture, SMEs and Non-SMEs toward Poverty Reduction in Bangladesh","authors":"Prashanta Banerjee, M. Rahman","doi":"10.56902/irbe.2019.3.1.2","DOIUrl":"https://doi.org/10.56902/irbe.2019.3.1.2","url":null,"abstract":"This paper studies the contributions of bank-based financing to agriculture, SMEs and non-SMEs in the overall poverty reduction in Bangladesh. Annual data are used from 1980 to 2015. ARDL bounds testing approach is applied for evidence of cointegration among the variables and VECM is subsequently estimated. The empirical results show that financing of non-SMEs significantly reduces overall poverty in the long run. To this effect, SMEs play a marginal role in the current state of affairs. In contrast, agricultural financing reveals, otherwise.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128512785","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 : 1900-01-01DOI: 10.56902/irbe.2020.4.2.46
N. Chithra
The Socio-economic conditions of fisherman are playing a significant role is fishing Industry as production and many others problems of the industry largely depend on the human factors. The development of fishing industry in India largely depends on the provision of better facilities to fishermen. The skill of the individual fishermen and his intimate knowledge of fishing methods. Commercially exploitable area, best season, and the type of year to be used etc., are very essential for this hazardous Industry. The fishermen are working day and night carrying on an unending fight with nature.
{"title":"An Economic Analysis Of Marine Boat Owners In Thanjavur District Of Tamilnadu In India","authors":"N. Chithra","doi":"10.56902/irbe.2020.4.2.46","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.2.46","url":null,"abstract":"The Socio-economic conditions of fisherman are playing a significant role is fishing Industry as production and many others problems of the industry largely depend on the human factors. The development of fishing industry in India largely depends on the provision of better facilities to fishermen. The skill of the individual fishermen and his intimate knowledge of fishing methods. Commercially exploitable area, best season, and the type of year to be used etc., are very essential for this hazardous Industry. The fishermen are working day and night carrying on an unending fight with nature.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"190 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117343535","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 : 1900-01-01DOI: 10.56902/irbe.2020.4.2.14
R. Gopalasundar
In country like India, women entrepreneurs have to overcome multiple problems to emerge as entrepreneurs and these problems usually differ from business to business. Similarly, women entrepreneurs in our country encounter a few problems just because they are women. Thus, the complicated, multifaceted gender specific problems of women entrepreneurs require and in-depth, systematic and scientific study of issues concerned with the women entrepreneurs in different business units for finding a feasible solution to their problems. Finally, to harness their potential and for their continue growth and developments, it is necessary to formulate and action plan and appropriate strategies for stimulation support and for sustaining their efforts in the right direction. For this purpose of studying the performance and problems of women entrepreneurs, Thanjavur district has been undertaken. The industrial development and entrepreneurial development in Thanjavur district in recent years has necessitated a deeper analysis of emerging women entrepreneurs.
{"title":"The Socio-Economic Performance Of Women Entrepreneurs In Various Sectors Of Business Units In Thanjavur District Of Tamilnadu In India","authors":"R. Gopalasundar","doi":"10.56902/irbe.2020.4.2.14","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.2.14","url":null,"abstract":"In country like India, women entrepreneurs have to overcome multiple problems to emerge as entrepreneurs and these problems usually differ from business to business. Similarly, women entrepreneurs in our country encounter a few problems just because they are women. Thus, the complicated, multifaceted gender specific problems of women entrepreneurs require and in-depth, systematic and scientific study of issues concerned with the women entrepreneurs in different business units for finding a feasible solution to their problems. Finally, to harness their potential and for their continue growth and developments, it is necessary to formulate and action plan and appropriate strategies for stimulation support and for sustaining their efforts in the right direction. For this purpose of studying the performance and problems of women entrepreneurs, Thanjavur district has been undertaken. The industrial development and entrepreneurial development in Thanjavur district in recent years has necessitated a deeper analysis of emerging women entrepreneurs.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115346729","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 : 1900-01-01DOI: 10.56902/irbe.2022.6.1.1
A. Kulkarni
Competitive advantage for economies, both developed and developing, will be increasingly based on knowledge in all its forms, including science and technology, smart entrepreneurship, and new business and organizational development models. Due to COVID-19, the need for innovative solutions to health and economic disruptions has never been as keenly felt. This paper is structured in five parts. The first part examines the extent to which various countries in Sub-Saharan Africa participate in the global knowledge economy. Data is drawn from the UN Knowledge Index and canvases knowledge economy parameters such as research and development, value-added industrial production and knowledge-intensive services, advanced education, and entrepreneurship. The second part examines in more depth some of the critical drivers of the knowledge economy, drawing on our own framework. The third part critically examines the key policy documents and visions of select African nations to ascertain progress and performance in the knowledge economy from a policy point of view. The fourth section examines the relationship between Africa and India. India has long-standing links with Africa in economy, culture, and society. This paper examines recent developments in the relationship including trade and student mobility. The final section is the conclusion and provides some strategies and policies for Africa to engage further with the knowledge economy.
{"title":"Africa's Knowledge Economy and Links to India","authors":"A. Kulkarni","doi":"10.56902/irbe.2022.6.1.1","DOIUrl":"https://doi.org/10.56902/irbe.2022.6.1.1","url":null,"abstract":"Competitive advantage for economies, both developed and developing, will be increasingly based on knowledge in all its forms, including science and technology, smart entrepreneurship, and new business and organizational development models. Due to COVID-19, the need for innovative solutions to health and economic disruptions has never been as keenly felt. This paper is structured in five parts. The first part examines the extent to which various countries in Sub-Saharan Africa participate in the global knowledge economy. Data is drawn from the UN Knowledge Index and canvases knowledge economy parameters such as research and development, value-added industrial production and knowledge-intensive services, advanced education, and entrepreneurship. The second part examines in more depth some of the critical drivers of the knowledge economy, drawing on our own framework. The third part critically examines the key policy documents and visions of select African nations to ascertain progress and performance in the knowledge economy from a policy point of view. The fourth section examines the relationship between Africa and India. India has long-standing links with Africa in economy, culture, and society. This paper examines recent developments in the relationship including trade and student mobility. The final section is the conclusion and provides some strategies and policies for Africa to engage further with the knowledge economy.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115653798","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 : 1900-01-01DOI: 10.56902/irbe.2020.4.1.2
Kishore G. Kulkarni
Traditional models (presented before 1980s) which claimed to explain the reasons and process of economic growth had rarely considered improvement in quality of technology (or innovation) as the main reason for economic growth. Most of the traditional models such as Harrod-Domar, Lewis etc focused on Capital (K) as the famous factor of production that individually suffered from the diminishing marginal productivity. In fact, the famous Neoclassical model of economic growth (Solow version) assumed that both traditional factors of production such as Labor (L) and Capital (K) go through decreasing returns to scale, which means by just applying more capital, or more labor alone, the economies would experience slower rather than higher rate of growth. Therefore in that model we thought the growth is basically coming from “outside factors” such as increased international trade, lower taxation or reduced regulation. This assertion also promoted the argument that growth is “exogenous” rather than “endogenous”. The whole picture of endogenous growth was further drastically changed when Paul Romer (Nobel Prize winner of 2018) arrived on the horizon in 1990s to promote the argument that technological change as against mere Capital (K) can in fact be the prime driver of economic growth. This paper will analyze the traditional arguments of growth and compare them with what Paul Romer’s contribution is to the growth dilemma. The present paper is structured as follows: Section 1 surveys the neoclassical model that claims that growth is exogenous and Section 2 is used to make the main point that innovation, technological growth and entrepreneurship all contribute to economy in a serious way and the growth can be endogenous too. Section 3 points out the main features of this argument as applied to India’s case in a limited sense of the term.
{"title":"Role of Technology in Economic Development: With Special Reference to India","authors":"Kishore G. Kulkarni","doi":"10.56902/irbe.2020.4.1.2","DOIUrl":"https://doi.org/10.56902/irbe.2020.4.1.2","url":null,"abstract":"Traditional models (presented before 1980s) which claimed to explain the reasons and process of economic growth had rarely considered improvement in quality of technology (or innovation) as the main reason for economic growth. Most of the traditional models such as Harrod-Domar, Lewis etc focused on Capital (K) as the famous factor of production that individually suffered from the diminishing marginal productivity. In fact, the famous Neoclassical model of economic growth (Solow version) assumed that both traditional factors of production such as Labor (L) and Capital (K) go through decreasing returns to scale, which means by just applying more capital, or more labor alone, the economies would experience slower rather than higher rate of growth. Therefore in that model we thought the growth is basically coming from “outside factors” such as increased international trade, lower taxation or reduced regulation. This assertion also promoted the argument that growth is “exogenous” rather than “endogenous”. The whole picture of endogenous growth was further drastically changed when Paul Romer (Nobel Prize winner of 2018) arrived on the horizon in 1990s to promote the argument that technological change as against mere Capital (K) can in fact be the prime driver of economic growth. This paper will analyze the traditional arguments of growth and compare them with what Paul Romer’s contribution is to the growth dilemma. The present paper is structured as follows: Section 1 surveys the neoclassical model that claims that growth is exogenous and Section 2 is used to make the main point that innovation, technological growth and entrepreneurship all contribute to economy in a serious way and the growth can be endogenous too. Section 3 points out the main features of this argument as applied to India’s case in a limited sense of the term.","PeriodicalId":415549,"journal":{"name":"International Review of Business and Economics","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114615192","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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