Pub Date : 2023-05-19DOI: 10.1177/09763996221149646
M. Bhatia
The study examines the evolution of the stock market efficiency of Indian banks during the period from 1 January 2007 to 30 June 2022. The study also seeks to investigate the degree of the impact of the different crises on the stock market efficiency in response to three major events: the global financial crisis, the local banking crisis and the pandemic crisis. For this, the wild bootstrap automatic variance ratio (WBAVR) test is applied using the rolling window method to account for the implications of the adaptive market hypothesis (AMH). For the robustness of the analysis, the study applies the automatic portmanteau (AQ) test, which is also based on a data-driven procedure. The findings show that the market efficiency of Indian banks is not an all-or-nothing phenomenon; rather, both efficiency and inefficiency co-exist simultaneously, with the Central Bank of India noted to be the most ‘inefficient’ bank. The findings demonstrate that market efficiency is ‘context-dependent’, that is, the stock market efficiency significantly alters in response to black-swan events happening in the economy. The study sheds light on the degree of the impact of different events on market efficiency, and it is shown that the internal crisis of the industry of high NPAs has a far greater impact on market efficiency compared to the global financial and pandemic crises. This research may assist policymakers in developing a comprehensive strategy to enhance the stock market efficiency of Indian banks in the face of such local and global crises.
{"title":"Impact of the Local and Global Crisis on Stock Market Efficiency","authors":"M. Bhatia","doi":"10.1177/09763996221149646","DOIUrl":"https://doi.org/10.1177/09763996221149646","url":null,"abstract":"The study examines the evolution of the stock market efficiency of Indian banks during the period from 1 January 2007 to 30 June 2022. The study also seeks to investigate the degree of the impact of the different crises on the stock market efficiency in response to three major events: the global financial crisis, the local banking crisis and the pandemic crisis. For this, the wild bootstrap automatic variance ratio (WBAVR) test is applied using the rolling window method to account for the implications of the adaptive market hypothesis (AMH). For the robustness of the analysis, the study applies the automatic portmanteau (AQ) test, which is also based on a data-driven procedure. The findings show that the market efficiency of Indian banks is not an all-or-nothing phenomenon; rather, both efficiency and inefficiency co-exist simultaneously, with the Central Bank of India noted to be the most ‘inefficient’ bank. The findings demonstrate that market efficiency is ‘context-dependent’, that is, the stock market efficiency significantly alters in response to black-swan events happening in the economy. The study sheds light on the degree of the impact of different events on market efficiency, and it is shown that the internal crisis of the industry of high NPAs has a far greater impact on market efficiency compared to the global financial and pandemic crises. This research may assist policymakers in developing a comprehensive strategy to enhance the stock market efficiency of Indian banks in the face of such local and global crises.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2023-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43465783","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 : 2023-04-23DOI: 10.1177/09763996231160270
Saheeh Shafi
This article critically interprets the multi-dimensional Asian American identity of Indians in terms of their pan-ethnic identity formation as Asian Americans through cultural assimilation or merging with the host culture of Americans and retention or holding on to Asian identity. The identification of Indian Asian Americans will be determined by pan-ethnicity, gender and religion by the interview responses of Indian Americans, including the pan-ethnic identity of Indians in the Mar Thoma Church community, the second-generation Patel family’s union formation in terms of gender identity. Identity formation theories like acculturation and culture shock theories will be used to justify the claims made in the hypothesis. The analysis will be organized in terms of its beginning with the analysis of important factors of pan-ethnicity and then of gender and religion consecutively as part of thematic analysis and finally by statistical analysis. Results show the reasons include better professional advantages, which propel their choice of different identities and their future directives as part of the hypothesis of Asian American identity of Indians as they merge with the American identity as part of cultural assimilation, in other cases, retain their Asian identity beyond Americanized identity and sometimes go beyond both American, Asian identity to restate their Indian ethnicity. To conclude, the identity of Indian Americans remains in flux and keeps changing due to the requirements of the ever-evolving world.
{"title":"Second-generation Asian American Identity of Indians: Assimilating with Americans or Retaining Asian-ness or Beyond?","authors":"Saheeh Shafi","doi":"10.1177/09763996231160270","DOIUrl":"https://doi.org/10.1177/09763996231160270","url":null,"abstract":"This article critically interprets the multi-dimensional Asian American identity of Indians in terms of their pan-ethnic identity formation as Asian Americans through cultural assimilation or merging with the host culture of Americans and retention or holding on to Asian identity. The identification of Indian Asian Americans will be determined by pan-ethnicity, gender and religion by the interview responses of Indian Americans, including the pan-ethnic identity of Indians in the Mar Thoma Church community, the second-generation Patel family’s union formation in terms of gender identity. Identity formation theories like acculturation and culture shock theories will be used to justify the claims made in the hypothesis. The analysis will be organized in terms of its beginning with the analysis of important factors of pan-ethnicity and then of gender and religion consecutively as part of thematic analysis and finally by statistical analysis. Results show the reasons include better professional advantages, which propel their choice of different identities and their future directives as part of the hypothesis of Asian American identity of Indians as they merge with the American identity as part of cultural assimilation, in other cases, retain their Asian identity beyond Americanized identity and sometimes go beyond both American, Asian identity to restate their Indian ethnicity. To conclude, the identity of Indian Americans remains in flux and keeps changing due to the requirements of the ever-evolving world.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2023-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44389579","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 : 2023-02-25DOI: 10.1177/09763996221141519
A. K. Giri, R. Arora
This study attempts to establish the linkage between human development and energy poverty for rural households and evaluate the impact of government schemes such as Pradhan Mantri Ujjwala Yojana, free electricity and unemployment allowance on human development. For the analysis purpose, primary data have been collected from rural areas of two main districts of the Shekhawati region of the state of Rajasthan in India. To pursue the objectives, two measures of energy poverty – energy deprivation and the multidimensional energy poverty index – and one measure of human development – the human development index – have been constructed. The primary survey of 1,000 households is conducted from January to March 2020. For establishing the empirical relationship, the study has used Tobit regression analysis. The findings confirm the hypothesis that the existence of energy poverty adversely affects the level of human development in the region. It also confirms the other side of the relationship, which states that increasing human development reduces energy poverty through various linkages. The study results reveal that the government scheme which directly contributes to the per capita income is also impacting positively human development through an increase in income. Hence, to improve the level of human development and to decline energy poverty, the study recommends policies to improve the overall level of income of households. JEL Classification Codes: I32, O13, O15, Q40
{"title":"Energy Poverty and Human Development: Empirical Evidence from Rural Rajasthan, India","authors":"A. K. Giri, R. Arora","doi":"10.1177/09763996221141519","DOIUrl":"https://doi.org/10.1177/09763996221141519","url":null,"abstract":"This study attempts to establish the linkage between human development and energy poverty for rural households and evaluate the impact of government schemes such as Pradhan Mantri Ujjwala Yojana, free electricity and unemployment allowance on human development. For the analysis purpose, primary data have been collected from rural areas of two main districts of the Shekhawati region of the state of Rajasthan in India. To pursue the objectives, two measures of energy poverty – energy deprivation and the multidimensional energy poverty index – and one measure of human development – the human development index – have been constructed. The primary survey of 1,000 households is conducted from January to March 2020. For establishing the empirical relationship, the study has used Tobit regression analysis. The findings confirm the hypothesis that the existence of energy poverty adversely affects the level of human development in the region. It also confirms the other side of the relationship, which states that increasing human development reduces energy poverty through various linkages. The study results reveal that the government scheme which directly contributes to the per capita income is also impacting positively human development through an increase in income. Hence, to improve the level of human development and to decline energy poverty, the study recommends policies to improve the overall level of income of households. JEL Classification Codes: I32, O13, O15, Q40","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2023-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42250091","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 : 2023-02-08DOI: 10.1177/09763996221141494
Rivya Dias
The prevalence of NCDs is high in Goa. Households bear a significant burden of medical costs in India. The increased out-of-pocket expenditures on health can, in some cases, drive households into poverty, leading them to incur catastrophic health expenditures. Based on the statistics of Goa for 2016, the leading causes of disability-adjusted life years (DALYs) among the non-communicable diseases (NCDs) were ischaemic heart disease (11.0%), diabetes (4.1%), followed by chronic obstructive pulmonary disease (4.1%), stroke (4%) and chronic kidney disease, which accounted for 2.3% of the DALYs. Owing to the increasing burden of NCDs in the state of Goa, this article uses a sample of 309 NCD patients to analyse the expenses incurred on three NCDs, namely, diabetes, cancer and cardiovascular illness in terms of costs incurred on medicines, laboratory test costs and hospital stays using Ordinary Least Squares (OLS). The article also compares the indirect costs, that is, loss of earnings as a result of man-days lost for both the patient and the caregiver. The article studies the relationship between socio-economic groups and the impact of an NCD. Finally, the study uses a Bayesian model to compare the likelihood of the household incurring catastrophic health expenditures if afflicted with an NCD. The results indicate an alarming trend in the impoverishment of households due to expenditures on NCDs. Given the chronic nature of NCDs and an increasing rate of prevalence, the government must focus on expanding its public healthcare system and financing for households nearing poverty. Subsequently, they must also focus on awareness campaigns that can promote healthier lifestyles that can play a role in preventing the onset of such NCDs.
{"title":"Comparing the Catastrophic Health Expenditures on Different Non-Communicable Diseases Among Households in Goa, India","authors":"Rivya Dias","doi":"10.1177/09763996221141494","DOIUrl":"https://doi.org/10.1177/09763996221141494","url":null,"abstract":"The prevalence of NCDs is high in Goa. Households bear a significant burden of medical costs in India. The increased out-of-pocket expenditures on health can, in some cases, drive households into poverty, leading them to incur catastrophic health expenditures. Based on the statistics of Goa for 2016, the leading causes of disability-adjusted life years (DALYs) among the non-communicable diseases (NCDs) were ischaemic heart disease (11.0%), diabetes (4.1%), followed by chronic obstructive pulmonary disease (4.1%), stroke (4%) and chronic kidney disease, which accounted for 2.3% of the DALYs. Owing to the increasing burden of NCDs in the state of Goa, this article uses a sample of 309 NCD patients to analyse the expenses incurred on three NCDs, namely, diabetes, cancer and cardiovascular illness in terms of costs incurred on medicines, laboratory test costs and hospital stays using Ordinary Least Squares (OLS). The article also compares the indirect costs, that is, loss of earnings as a result of man-days lost for both the patient and the caregiver. The article studies the relationship between socio-economic groups and the impact of an NCD. Finally, the study uses a Bayesian model to compare the likelihood of the household incurring catastrophic health expenditures if afflicted with an NCD. The results indicate an alarming trend in the impoverishment of households due to expenditures on NCDs. Given the chronic nature of NCDs and an increasing rate of prevalence, the government must focus on expanding its public healthcare system and financing for households nearing poverty. Subsequently, they must also focus on awareness campaigns that can promote healthier lifestyles that can play a role in preventing the onset of such NCDs.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2023-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43608023","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 : 2023-02-07DOI: 10.1177/09763996221141546
Surender Mor, Ranjan Aneja, Sonu Madan, M. Ghimire
The present thematic review assessed 47 articles on the world’s global climate management policy. It reviews the Kyoto Protocol and Paris Agreement aiming to mitigate climate change with the mechanisms of bindings and pledges, respectively. The research on Kyoto Protocol suggests that most Annex I parties have met their targets through its embedded mechanisms. However, global emissions continued to increase even in the protocol period owing to many defects in its inherent mechanism. Further, the review of the Paris Agreement reveals that most of its signatories are striving hard to achieve the targets. Despite that, the global emissions trends have been very alarming and predicted emissions could be far above the Paris Agreement’s limit. The review reveals that the Kyoto Protocol successfully paved the way for a new climate management order. At the same time, the success of the Paris Agreement relies mainly on communication and compliance of respective Nationally Determined Contributions (NDCs) by signatories, alignments of NDCs and Intended Nationally Determined Contributions (INDCs), and transparency in their emission mitigation targets. The study opined that the developed nations should help developing nations meet their pledges, transfer first-hand technology and provide adequate innovative technological solutions with financial provisions for making a carbon-neutral sustainable planet.
{"title":"Kyoto Protocol and Paris Agreement: Transition from Bindings to Pledges – A Review","authors":"Surender Mor, Ranjan Aneja, Sonu Madan, M. Ghimire","doi":"10.1177/09763996221141546","DOIUrl":"https://doi.org/10.1177/09763996221141546","url":null,"abstract":"The present thematic review assessed 47 articles on the world’s global climate management policy. It reviews the Kyoto Protocol and Paris Agreement aiming to mitigate climate change with the mechanisms of bindings and pledges, respectively. The research on Kyoto Protocol suggests that most Annex I parties have met their targets through its embedded mechanisms. However, global emissions continued to increase even in the protocol period owing to many defects in its inherent mechanism. Further, the review of the Paris Agreement reveals that most of its signatories are striving hard to achieve the targets. Despite that, the global emissions trends have been very alarming and predicted emissions could be far above the Paris Agreement’s limit. The review reveals that the Kyoto Protocol successfully paved the way for a new climate management order. At the same time, the success of the Paris Agreement relies mainly on communication and compliance of respective Nationally Determined Contributions (NDCs) by signatories, alignments of NDCs and Intended Nationally Determined Contributions (INDCs), and transparency in their emission mitigation targets. The study opined that the developed nations should help developing nations meet their pledges, transfer first-hand technology and provide adequate innovative technological solutions with financial provisions for making a carbon-neutral sustainable planet.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2023-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42504890","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 : 2023-01-11DOI: 10.1177/09763996221140268
Harpreet Singh
Scheduled Castes (SC) and Scheduled Tribes are the two most marginalized sections of Indian society that suffered discrimination through the ages. The government of India since independence has adopted various policy measures to remove the atrocities and discrimination against them. The present study attempts to understand whether or not the Scheduled Castes in rural Punjab continue to suffer from economic discrimination on account of their social attribute—caste—even after seven decades of independence. The nature of caste-based economic discrimination in the labour market of rural Punjab is examined using NSSO’s employment-unemployment data. The analyses support the existence of differences in occupational choices and wage differential among the caste groups. The SC households earn relatively low wages than the non-SC in rural Punjab. The SC workers are engaged in low-status and low-rewarding traditional caste occupations. The probability of SC workers choosing casual work is relatively greater than that of non-SC workers in rural Punjab.
{"title":"Does Labour Market Discriminate Against the Scheduled Castes? Empirical Evidence from Rural Punjab, India","authors":"Harpreet Singh","doi":"10.1177/09763996221140268","DOIUrl":"https://doi.org/10.1177/09763996221140268","url":null,"abstract":"Scheduled Castes (SC) and Scheduled Tribes are the two most marginalized sections of Indian society that suffered discrimination through the ages. The government of India since independence has adopted various policy measures to remove the atrocities and discrimination against them. The present study attempts to understand whether or not the Scheduled Castes in rural Punjab continue to suffer from economic discrimination on account of their social attribute—caste—even after seven decades of independence. The nature of caste-based economic discrimination in the labour market of rural Punjab is examined using NSSO’s employment-unemployment data. The analyses support the existence of differences in occupational choices and wage differential among the caste groups. The SC households earn relatively low wages than the non-SC in rural Punjab. The SC workers are engaged in low-status and low-rewarding traditional caste occupations. The probability of SC workers choosing casual work is relatively greater than that of non-SC workers in rural Punjab.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2023-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42614640","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 : 2023-01-11DOI: 10.1177/09763996221138465
Ghulam Mustafa
This study examines the nature of the association among financial development, economic growth, foreign direct investment and trade openness in four South Asian countries from the period 1990–2019. The study employed Granger Causality test in Vector Error Correction Model (VECM) framework to find out the dynamic relationship among the variables. Further, variance decomposition analysis (VDA) and impulse response function (IRF) is also applied to determine the relationships among the variables beyond the sample period. The empirical result shows support for growth-led financial development, growth-led foreign direct investment and growth-led trade openness hypothesis for India. For Pakistan, the results suggest growth-led financial development and growth-led foreign direct investment. In the case of Sri Lanka, the results suggest foreign direct investment-led growth and trade openness-led growth hypothesis. The results do not support any kind of causal relationship among the variables in the case of Bangladesh in the short run. Furthermore, no bidirectional causality among the variables was found for all the countries. The findings imply that all four countries should adopt policies to promote further trade liberalization, financial sector development and also need to fast-track reforms to improve the investment climate and attract investments to attain high economic growth in the long run.
{"title":"The Dynamic Relationship Between Financial Development, Economic Growth, Foreign Direct Investment and Trade Openness: Evidence from South Asian Countries","authors":"Ghulam Mustafa","doi":"10.1177/09763996221138465","DOIUrl":"https://doi.org/10.1177/09763996221138465","url":null,"abstract":"This study examines the nature of the association among financial development, economic growth, foreign direct investment and trade openness in four South Asian countries from the period 1990–2019. The study employed Granger Causality test in Vector Error Correction Model (VECM) framework to find out the dynamic relationship among the variables. Further, variance decomposition analysis (VDA) and impulse response function (IRF) is also applied to determine the relationships among the variables beyond the sample period. The empirical result shows support for growth-led financial development, growth-led foreign direct investment and growth-led trade openness hypothesis for India. For Pakistan, the results suggest growth-led financial development and growth-led foreign direct investment. In the case of Sri Lanka, the results suggest foreign direct investment-led growth and trade openness-led growth hypothesis. The results do not support any kind of causal relationship among the variables in the case of Bangladesh in the short run. Furthermore, no bidirectional causality among the variables was found for all the countries. The findings imply that all four countries should adopt policies to promote further trade liberalization, financial sector development and also need to fast-track reforms to improve the investment climate and attract investments to attain high economic growth in the long run.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":"14 1","pages":"406 - 433"},"PeriodicalIF":1.6,"publicationDate":"2023-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41669007","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 : 2022-12-28DOI: 10.1177/09763996221139922
S. Kim
This article investigates the changes in South Koreans’ acceptance towards multiculturalism and acceptance towards North Korean defectors during the early months of the COVID-19 pandemic in South Korea and potential factors affecting the changes. Individual-level survey data conducted in 2018–2020 were used to compare pre- and post-COVID-19 period. The results demonstrate that the regions with severe local outbreaks during the early COVID-19 pandemic experienced increased hostile attitudes towards multiculturalism and increased discriminatory preference. On the other hand, the pandemic did not affect attitudes towards North Korean defectors. The change may be associated with fear of infection as interaction effects between vulnerability and affected regions after the pandemic were statistically significant. This finding suggests that efforts to disassociate infectious diseases and foreign migrants can mitigate increased hostility towards multiculturalism and foreigners.
{"title":"Pandemic and Attitudes towards Immigrants: Evidence from South Korea during the COVID-19 Crisis","authors":"S. Kim","doi":"10.1177/09763996221139922","DOIUrl":"https://doi.org/10.1177/09763996221139922","url":null,"abstract":"This article investigates the changes in South Koreans’ acceptance towards multiculturalism and acceptance towards North Korean defectors during the early months of the COVID-19 pandemic in South Korea and potential factors affecting the changes. Individual-level survey data conducted in 2018–2020 were used to compare pre- and post-COVID-19 period. The results demonstrate that the regions with severe local outbreaks during the early COVID-19 pandemic experienced increased hostile attitudes towards multiculturalism and increased discriminatory preference. On the other hand, the pandemic did not affect attitudes towards North Korean defectors. The change may be associated with fear of infection as interaction effects between vulnerability and affected regions after the pandemic were statistically significant. This finding suggests that efforts to disassociate infectious diseases and foreign migrants can mitigate increased hostility towards multiculturalism and foreigners.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2022-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45584175","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 exploratory article, on the basis of a comprehensive field survey, identifies and empirically examines the various key quantitative and qualitative determinants of female child labour in Haryana (India). These factors have been examined on three broader parameters, viz. economic, sociocultural and institutional by way of using a multiple-criteria decision-making (MCDM) technique, called the analytic hierarchy process model. The analysis clearly establishes that while the economic dynamics are certainly the elementary drivers of the supply of female child labour, this phenomenon is also attributed, and that too up to a significant extent, to several area-specific sociocultural factors, which are many times ignored. The study finds that three sub-criteria, viz. inadequate annual adult earnings, patriarchy and alcoholism have emerged as major sub-factors in this context. The outcomes of this study have several connotations, both for mitigation of the problem of female child labour as well as further research in this area. The government may emphasise more appropriate strategies like the improvements in labour market outcomes for socio-economically underprivileged sections, restraining alcoholism as well as creating awareness among the masses for bringing changes in the state’s orthodox cultural norms with regard to the girl children and child labour.
{"title":"Investigating the Determinants of Female Child Labour: An Analytic Hierarchy Process (AHP) Analysis","authors":"Sushma Yadav, Angrej Singh Gill, Kamlesh Narwana, Sanjay Gupta","doi":"10.1177/09763996221135699","DOIUrl":"https://doi.org/10.1177/09763996221135699","url":null,"abstract":"This exploratory article, on the basis of a comprehensive field survey, identifies and empirically examines the various key quantitative and qualitative determinants of female child labour in Haryana (India). These factors have been examined on three broader parameters, viz. economic, sociocultural and institutional by way of using a multiple-criteria decision-making (MCDM) technique, called the analytic hierarchy process model. The analysis clearly establishes that while the economic dynamics are certainly the elementary drivers of the supply of female child labour, this phenomenon is also attributed, and that too up to a significant extent, to several area-specific sociocultural factors, which are many times ignored. The study finds that three sub-criteria, viz. inadequate annual adult earnings, patriarchy and alcoholism have emerged as major sub-factors in this context. The outcomes of this study have several connotations, both for mitigation of the problem of female child labour as well as further research in this area. The government may emphasise more appropriate strategies like the improvements in labour market outcomes for socio-economically underprivileged sections, restraining alcoholism as well as creating awareness among the masses for bringing changes in the state’s orthodox cultural norms with regard to the girl children and child labour.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2022-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48135358","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 : 2022-12-19DOI: 10.1177/09763996221136908
Bhanu Pratap Singh, Sujith Kumar
The study gives new evidence on the effects of public debt on economic growth in India with key macroeconomic indicators from 1980 to 2019. In the past decade, and after the COVID-19 pandemic, there is a substantial rise in public debt, which reached 90% of the GDP in April 2021. Therefore, it is imperative to study the impact of different public debt sources on the Indian economy to help policymakers frame informed debt management policies. The long-run equilibrium relationship and cointegrating coefficients are calculated using Johansen cointegration and fully modified ordinary least square techniques. Toda and Yamamoto’s (1995) Granger causality test is used as a short-run diagnostic test for the long-run equilibrium relationship. The study’s major findings suggest that domestic debt, total factor productivity (TFP) and exports are the major determinants of economic development in the long run. In contrast, economic prosperity determines the growth of external debt, debt service payments and TFP in the short run. It is recommended that the government should control and channel public debt productively for favourable growth effects.
{"title":"Public Debt and Economic Growth in India: The New Evidence","authors":"Bhanu Pratap Singh, Sujith Kumar","doi":"10.1177/09763996221136908","DOIUrl":"https://doi.org/10.1177/09763996221136908","url":null,"abstract":"The study gives new evidence on the effects of public debt on economic growth in India with key macroeconomic indicators from 1980 to 2019. In the past decade, and after the COVID-19 pandemic, there is a substantial rise in public debt, which reached 90% of the GDP in April 2021. Therefore, it is imperative to study the impact of different public debt sources on the Indian economy to help policymakers frame informed debt management policies. The long-run equilibrium relationship and cointegrating coefficients are calculated using Johansen cointegration and fully modified ordinary least square techniques. Toda and Yamamoto’s (1995) Granger causality test is used as a short-run diagnostic test for the long-run equilibrium relationship. The study’s major findings suggest that domestic debt, total factor productivity (TFP) and exports are the major determinants of economic development in the long run. In contrast, economic prosperity determines the growth of external debt, debt service payments and TFP in the short run. It is recommended that the government should control and channel public debt productively for favourable growth effects.","PeriodicalId":41791,"journal":{"name":"Millennial Asia","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2022-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45010363","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：