Pub Date : 2019-08-31DOI: 10.1108/IGDR-09-2018-0091
Pami Dua, N. Garg
Purpose The study aims to empirically investigate the trends and determinants of labour productivity of the two broad sectors –industry and services – and their components, namely, manufacturing and market services sectors, in the case of major developing and developed economies of Asia-Pacific over the period 1980-2014 and make a comparison thereof. Design/methodology/approach The study uses econometric methodology of panel unit root tests, panel cointegration and group-mean full modified ordinary least squares (FMOLS). Findings The study finds that while capital deepening, government size, institutional quality, productivity of the other sector and financial openness affect productivity of all the sectors significantly, the impact of human capital and trade openness varies across sectors in the case of developing economies. Furthermore, the impact of technological progress becomes significant in the post-liberalization reforms period in the developing economies. The study further finds that capital deepening, human capital, government size, institutional quality, productivity of the other sector, government size and trade openness are significant determinants of productivity of all sectors of developed economies under consideration. However, the impact of technological progress is stronger for manufacturing sector than services and its components. Furthermore, while both equity and debt liabilities (as measures of financial openness) influence sectoral productivity of industry and manufacturing sectors positively and significantly in case of developed economies, only equity liabilities have a significant influence on the productivity of developing economies. This may indicate existence of more developed financial markets in the case of developed economies. Originality/value The study identifies important structural differences in determinants of productivity both across sectors and across developing and developed economies of Asia-Pacific.
{"title":"Sectoral analysis of productivity in the developing and developed economies of Asia-Pacific","authors":"Pami Dua, N. Garg","doi":"10.1108/IGDR-09-2018-0091","DOIUrl":"https://doi.org/10.1108/IGDR-09-2018-0091","url":null,"abstract":"\u0000Purpose\u0000The study aims to empirically investigate the trends and determinants of labour productivity of the two broad sectors –industry and services – and their components, namely, manufacturing and market services sectors, in the case of major developing and developed economies of Asia-Pacific over the period 1980-2014 and make a comparison thereof.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses econometric methodology of panel unit root tests, panel cointegration and group-mean full modified ordinary least squares (FMOLS).\u0000\u0000\u0000Findings\u0000The study finds that while capital deepening, government size, institutional quality, productivity of the other sector and financial openness affect productivity of all the sectors significantly, the impact of human capital and trade openness varies across sectors in the case of developing economies. Furthermore, the impact of technological progress becomes significant in the post-liberalization reforms period in the developing economies. The study further finds that capital deepening, human capital, government size, institutional quality, productivity of the other sector, government size and trade openness are significant determinants of productivity of all sectors of developed economies under consideration. However, the impact of technological progress is stronger for manufacturing sector than services and its components. Furthermore, while both equity and debt liabilities (as measures of financial openness) influence sectoral productivity of industry and manufacturing sectors positively and significantly in case of developed economies, only equity liabilities have a significant influence on the productivity of developing economies. This may indicate existence of more developed financial markets in the case of developed economies.\u0000\u0000\u0000Originality/value\u0000The study identifies important structural differences in determinants of productivity both across sectors and across developing and developed economies of Asia-Pacific.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-09-2018-0091","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43535757","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 : 2019-08-12DOI: 10.1108/igdr-01-2019-0003
Awadhesh pratap Singh, C. Sharma
Purpose The purpose of this paper is to compare and analyze the modern productivity estimation techniques, namely, Levinsohn and Petrin (LP, 2003), Ackerberg Caves and Frazer (ACF, 2006), Wooldridge (2009) and Mollisi and Rovigatti (MR, 2017) on unit-level data of 32 Indian industries for the period 2009-2015. Design/methodology/approach The paper first analyzes different issues encountered in total factor productivity (TFP) measurement. It then categorizes the productivity estimation techniques into three logical generations, namely, traditional, new and advanced. Next, it selects four contemporary estimation techniques, computes the industrial TFP for Indian states by using them and investigates their empirical outcomes. The paper also performs the robustness check to ascertain, which estimation technique is more robust. Findings The result indicates that the TFP growth of Indian industries have differed greatly over this seven-years of period, but the estimates are sensitive to the techniques used. Further results suggest that ACF and Wooldridge yield the consistent outcomes as compared to LP and MR. The robustness test confirms Wooldridge to be the most robust contemporary technique for productivity estimation followed by ACF and LP. Originality/value To the authors’ knowledge, this is the first study that compares the contemporary productivity estimation techniques. In this backdrop, this paper offers two novelties. First, it uses advanced production estimation techniques to compute TFP of 32 diverse industries of an emerging economy: India. Second, it addresses the fitment of estimation techniques by drawing a comparison and by conducting a robustness test, hence, contributing to the limited literature on comparing contemporary productivity estimation techniques.
{"title":"Does selection of productivity estimation techniques matter?","authors":"Awadhesh pratap Singh, C. Sharma","doi":"10.1108/igdr-01-2019-0003","DOIUrl":"https://doi.org/10.1108/igdr-01-2019-0003","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to compare and analyze the modern productivity estimation techniques, namely, Levinsohn and Petrin (LP, 2003), Ackerberg Caves and Frazer (ACF, 2006), Wooldridge (2009) and Mollisi and Rovigatti (MR, 2017) on unit-level data of 32 Indian industries for the period 2009-2015.\u0000\u0000\u0000Design/methodology/approach\u0000The paper first analyzes different issues encountered in total factor productivity (TFP) measurement. It then categorizes the productivity estimation techniques into three logical generations, namely, traditional, new and advanced. Next, it selects four contemporary estimation techniques, computes the industrial TFP for Indian states by using them and investigates their empirical outcomes. The paper also performs the robustness check to ascertain, which estimation technique is more robust.\u0000\u0000\u0000Findings\u0000The result indicates that the TFP growth of Indian industries have differed greatly over this seven-years of period, but the estimates are sensitive to the techniques used. Further results suggest that ACF and Wooldridge yield the consistent outcomes as compared to LP and MR. The robustness test confirms Wooldridge to be the most robust contemporary technique for productivity estimation followed by ACF and LP.\u0000\u0000\u0000Originality/value\u0000To the authors’ knowledge, this is the first study that compares the contemporary productivity estimation techniques. In this backdrop, this paper offers two novelties. First, it uses advanced production estimation techniques to compute TFP of 32 diverse industries of an emerging economy: India. Second, it addresses the fitment of estimation techniques by drawing a comparison and by conducting a robustness test, hence, contributing to the limited literature on comparing contemporary productivity estimation techniques.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/igdr-01-2019-0003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43194410","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 : 2019-08-09DOI: 10.1108/igdr-10-2018-0109
Pacific K. T. Yapatake, Gabriella M-A. M Ngaba
Purpose The purpose of this paper is to investigate the effect of corruption control on capital flight in the least corrupt African countries. Design/methodology/approach Using panel data covering the period of 1996-2010. Findings The results show that the extent of corruption, the total natural resources rent are statistically significant and affect positively the capital across the pooled, random and fixed effects. Inflation and economic growth are also found to have a negative impact on capital flight. Moreover, the exchange rate has a negative and significant effect on capital flight. Practical implications The findings of this study suggest that the extent of corruption control by responsible institutions can be considered as one of the most effective weapons in the fight against capital flight in the least corrupt African countries. Social implications The paper recommends to the government of the least corrupt countries in Africa to create an enabling political and economic environment for investor’s attractiveness. This, in turn, will reduce the occurrence of capital flight and lead to the sustainable development. Originality/value The findings of this study suggest that the extent of corruption control by responsible institutions can be considered as one of the most effective weapons in the fight against capital flight in the least corrupt African countries. The paper recommends to the government of the least corrupt countries in Africa to create an enabling political and economic environment for investor’s attractiveness. This, in turn, will reduce the occurrence of capital flight and lead to the sustainable development.
{"title":"Capital flight and extent of corruption control in the least corrupt African countries","authors":"Pacific K. T. Yapatake, Gabriella M-A. M Ngaba","doi":"10.1108/igdr-10-2018-0109","DOIUrl":"https://doi.org/10.1108/igdr-10-2018-0109","url":null,"abstract":"\u0000Purpose The purpose of this paper is to investigate the effect of corruption control on capital flight in the least corrupt African countries.\u0000\u0000\u0000Design/methodology/approach Using panel data covering the period of 1996-2010.\u0000\u0000\u0000Findings The results show that the extent of corruption, the total natural resources rent are statistically significant and affect positively the capital across the pooled, random and fixed effects. Inflation and economic growth are also found to have a negative impact on capital flight. Moreover, the exchange rate has a negative and significant effect on capital flight.\u0000\u0000\u0000Practical implications The findings of this study suggest that the extent of corruption control by responsible institutions can be considered as one of the most effective weapons in the fight against capital flight in the least corrupt African countries.\u0000\u0000\u0000Social implications The paper recommends to the government of the least corrupt countries in Africa to create an enabling political and economic environment for investor’s attractiveness. This, in turn, will reduce the occurrence of capital flight and lead to the sustainable development.\u0000\u0000\u0000Originality/value The findings of this study suggest that the extent of corruption control by responsible institutions can be considered as one of the most effective weapons in the fight against capital flight in the least corrupt African countries. The paper recommends to the government of the least corrupt countries in Africa to create an enabling political and economic environment for investor’s attractiveness. This, in turn, will reduce the occurrence of capital flight and lead to the sustainable development.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/igdr-10-2018-0109","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44645665","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 : 2019-06-22DOI: 10.1108/IGDR-05-2018-0058
Sushama Murty, R. Nagpal
Purpose The purpose of this paper is to measure technical efficiency of Indian thermal power sector employing the recent by-production approach. Design/methodology/approach The by-production approach is used in conjunction with data from the Central Electricity Authority (CEA) of India to compute the output-based Färe, Grosskopf, Lovell (FGL) efficiency index and its decomposition into productive and environmental efficiency indexes for the ITPPs Findings The authors show that given the aggregated nature of data on coal reported by CEA, CEA’s computation of CO2 emissions through a deterministic linear formula that does not distinguish between different coal types and the tiny share of oil in coal-based power plants, the computed output-based environmental efficiency indexes are no longer informative. Meaningful measurement of environmental efficiency using CEA data is possible only along the dimension of the coal input. Productive efficiency is positively associated with the engineering concept of thermodynamic/energy efficiency and is also high for power plants with high operating availabilities reflecting better management and O&M practices. Both these factors are high for private and centrally owned as opposed to state-owned power-generating companies. The example of Sipat demonstrates the importance of (ultra)supercritical technologies in increasing productive and thermodynamic efficiencies of the ITPPs, while also reducing CO2 emitted per unit of the net electricity generated. Originality/value This paper uses the by-production approach for the first time to measure technical efficiency of ITPPs and highlights how the nature of the Indian data impacts on efficiency measurement.
{"title":"Measuring output-based technical efficiency of Indian coal-based thermal power plants","authors":"Sushama Murty, R. Nagpal","doi":"10.1108/IGDR-05-2018-0058","DOIUrl":"https://doi.org/10.1108/IGDR-05-2018-0058","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to measure technical efficiency of Indian thermal power sector employing the recent by-production approach.\u0000\u0000\u0000Design/methodology/approach\u0000The by-production approach is used in conjunction with data from the Central Electricity Authority (CEA) of India to compute the output-based Färe, Grosskopf, Lovell (FGL) efficiency index and its decomposition into productive and environmental efficiency indexes for the ITPPs\u0000\u0000\u0000Findings\u0000The authors show that given the aggregated nature of data on coal reported by CEA, CEA’s computation of CO2 emissions through a deterministic linear formula that does not distinguish between different coal types and the tiny share of oil in coal-based power plants, the computed output-based environmental efficiency indexes are no longer informative. Meaningful measurement of environmental efficiency using CEA data is possible only along the dimension of the coal input. Productive efficiency is positively associated with the engineering concept of thermodynamic/energy efficiency and is also high for power plants with high operating availabilities reflecting better management and O&M practices. Both these factors are high for private and centrally owned as opposed to state-owned power-generating companies. The example of Sipat demonstrates the importance of (ultra)supercritical technologies in increasing productive and thermodynamic efficiencies of the ITPPs, while also reducing CO2 emitted per unit of the net electricity generated.\u0000\u0000\u0000Originality/value\u0000This paper uses the by-production approach for the first time to measure technical efficiency of ITPPs and highlights how the nature of the Indian data impacts on efficiency measurement.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-05-2018-0058","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42285385","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 : 2019-06-14DOI: 10.1108/IGDR-11-2018-0124
Shruti Shastri
Purpose The purpose of this study is to revisit the twin deficit hypothesis (TDH) and provide insights into the transmission mechanism connecting budget deficits and current account deficits for five major South Asian countries, namely, India, Bangladesh, Pakistan Sri Lanka and Nepal for the period 1985-2016. Design/methodology/approach This study uses a multivariate framework including real interest rate, real exchange rate and real gross domestic product to avoid the possibility of incorrect inferences caused by omission of relevant mediating variables. The long-run relationship and causality are investigated through the autoregressive distributed lag bounds testing approach and Toda Yamamoto approach, respectively, for each individual country. The robustness of the results is assessed with the help of Westerlund’s cointegration test and group mean fully modified ordinary least squares (GM-FMOLS), group mean dynamic ordinary least square (GM-DOLS) and common correlated effect mean group (CCEMG) estimators in the panel framework. Findings Both time series and panel evidences indicate long-run relationship between budget balance (BB) and current account balance (CAB) together with the mediating variables. The results indicate bi-directional causation between the two balances for India and Bangladesh, TDH for Pakistan and Sri Lanka and the reverse causation from CAB to BB for Nepal. Regarding the transmission mechanism, the results indicate the absence of the causal chain postulated by Mundell–Fleming, which predicts that BB causes CAB via interest rate and exchange rate. A CCEMG estimate of the import demand function reveals a positive government spending elasticity of imports suggesting that BB affects CAB by direct impact through demand. Originality/value This study augments the twin deficit literature on South Asian countries by providing insights into the transmission mechanism connecting the BB and CAB. Moreover, the study provides robust evidences on the TDH by using both time series and panel data techniques.
{"title":"Re-examining the twin deficit hypothesis for major South Asian economies","authors":"Shruti Shastri","doi":"10.1108/IGDR-11-2018-0124","DOIUrl":"https://doi.org/10.1108/IGDR-11-2018-0124","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to revisit the twin deficit hypothesis (TDH) and provide insights into the transmission mechanism connecting budget deficits and current account deficits for five major South Asian countries, namely, India, Bangladesh, Pakistan Sri Lanka and Nepal for the period 1985-2016.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses a multivariate framework including real interest rate, real exchange rate and real gross domestic product to avoid the possibility of incorrect inferences caused by omission of relevant mediating variables. The long-run relationship and causality are investigated through the autoregressive distributed lag bounds testing approach and Toda Yamamoto approach, respectively, for each individual country. The robustness of the results is assessed with the help of Westerlund’s cointegration test and group mean fully modified ordinary least squares (GM-FMOLS), group mean dynamic ordinary least square (GM-DOLS) and common correlated effect mean group (CCEMG) estimators in the panel framework.\u0000\u0000\u0000Findings\u0000Both time series and panel evidences indicate long-run relationship between budget balance (BB) and current account balance (CAB) together with the mediating variables. The results indicate bi-directional causation between the two balances for India and Bangladesh, TDH for Pakistan and Sri Lanka and the reverse causation from CAB to BB for Nepal. Regarding the transmission mechanism, the results indicate the absence of the causal chain postulated by Mundell–Fleming, which predicts that BB causes CAB via interest rate and exchange rate. A CCEMG estimate of the import demand function reveals a positive government spending elasticity of imports suggesting that BB affects CAB by direct impact through demand.\u0000\u0000\u0000Originality/value\u0000This study augments the twin deficit literature on South Asian countries by providing insights into the transmission mechanism connecting the BB and CAB. Moreover, the study provides robust evidences on the TDH by using both time series and panel data techniques.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-11-2018-0124","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48360039","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 : 2019-06-12DOI: 10.1108/IGDR-10-2018-0108
B. Goldar, Ishan Chawla, S. Behera
Purpose The purpose of this paper is to assess the impact of India’s trade liberalization during the late 1990s and 2000s on productivity of manufacturing firms and verify whether the productivity-enhancing impact of reductions in input tariffs was greater than that of output tariff cuts, as found in some earlier studies. Design/methodology/approach Firm-level (company-level) data drawn from Prowess database are used for the estimation of total factor productivity (TFP) at the firm level, done by using the Levinsohn–Petrin methodology. Econometric models are estimated to explain firm-level TFP. The explanatory variables used are output and input tariff rates and quantitative restrictions on imports at the industry level and firm characteristics such as firm size, export intensity and import intensity. Firm-level panel data for 2002-2010 or for a longer period 1998-2010 are used for the estimation of econometric models. Model estimation is done by applying the fixed-effects model and IV-2SLS, 3SLS estimators and EC2SLS estimators. Findings Trade liberalization had a significant positive effect on the productivity of Indian manufacturing firms. The lowering of output tariff had a greater beneficial impact on TFP of Indian manufacturing firms than the lowering of tariff on intermediate inputs. Originality/value Good deal of care has been taken in the measurement of output and inputs for the purpose of TFP measurement. Two alternative frameworks, gross output and value added, are used. This helps in making a better estimate of the impact of trade liberalization on TFP.
{"title":"Trade liberalization and productivity of Indian manufacturing firms","authors":"B. Goldar, Ishan Chawla, S. Behera","doi":"10.1108/IGDR-10-2018-0108","DOIUrl":"https://doi.org/10.1108/IGDR-10-2018-0108","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to assess the impact of India’s trade liberalization during the late 1990s and 2000s on productivity of manufacturing firms and verify whether the productivity-enhancing impact of reductions in input tariffs was greater than that of output tariff cuts, as found in some earlier studies.\u0000\u0000\u0000Design/methodology/approach\u0000Firm-level (company-level) data drawn from Prowess database are used for the estimation of total factor productivity (TFP) at the firm level, done by using the Levinsohn–Petrin methodology. Econometric models are estimated to explain firm-level TFP. The explanatory variables used are output and input tariff rates and quantitative restrictions on imports at the industry level and firm characteristics such as firm size, export intensity and import intensity. Firm-level panel data for 2002-2010 or for a longer period 1998-2010 are used for the estimation of econometric models. Model estimation is done by applying the fixed-effects model and IV-2SLS, 3SLS estimators and EC2SLS estimators.\u0000\u0000\u0000Findings\u0000Trade liberalization had a significant positive effect on the productivity of Indian manufacturing firms. The lowering of output tariff had a greater beneficial impact on TFP of Indian manufacturing firms than the lowering of tariff on intermediate inputs.\u0000\u0000\u0000Originality/value\u0000Good deal of care has been taken in the measurement of output and inputs for the purpose of TFP measurement. Two alternative frameworks, gross output and value added, are used. This helps in making a better estimate of the impact of trade liberalization on TFP.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-10-2018-0108","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49074984","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 : 2019-06-06DOI: 10.1108/IGDR-05-2018-0054
D. Das, S. Aggarwal, A. Erumban, Pilu Chandra Das
Purpose The dynamics of economic growth in India continues to engage economists and still remains much debated. The trends and patterns of growth observed in India have seen acceleration in growth in Indian economy in the period following macroeconomic reforms and policy changes in investment and trade regimes. However, when and how did India transform itself from Hindu rate of growth to the present growth regime continues to be debated. Design/methodology/approach Using INDIA KLEMS data set, this study provides a distinctive perspective on India’s economic growth. A unique data set comprising 27 sectors of Indian economy at a disaggregate industry level for a period of 30 years, beginning 1980s, attempts to understand the dynamics of India’s growth from the contribution of industries that comprise the Indian economy. Findings This productivity data set offers a new way of analyzing the dynamics of growth including the sources of growth. The growth empirics allow evaluation of the relative significance of total factor productivity growth vis-a-vis input accumulation in accounting for output growth. In addition, the authors were able to document the industry contributions to aggregate growth. In this way, they were able to analyze the importance of the constituent industries within the different sectors of the economy − agriculture, manufacturing, construction and market, as well as non-market services in accounting for the observed growth in India. In conclusion, the industry perspective offers a new and analytical way of discerning new aspects of India’s march to higher growth regimes in post-1990s era. Originality/value A unique data set comprising 27 sectors of Indian economy at a disaggregate industry level for a period of 30 years, beginning 1980s, attempts to understand the dynamics of India’s growth from the contribution of industries that comprise the Indian economy.
{"title":"What is new about India’s economic growth? An industry level productivity perspective","authors":"D. Das, S. Aggarwal, A. Erumban, Pilu Chandra Das","doi":"10.1108/IGDR-05-2018-0054","DOIUrl":"https://doi.org/10.1108/IGDR-05-2018-0054","url":null,"abstract":"\u0000Purpose\u0000The dynamics of economic growth in India continues to engage economists and still remains much debated. The trends and patterns of growth observed in India have seen acceleration in growth in Indian economy in the period following macroeconomic reforms and policy changes in investment and trade regimes. However, when and how did India transform itself from Hindu rate of growth to the present growth regime continues to be debated.\u0000\u0000\u0000Design/methodology/approach\u0000Using INDIA KLEMS data set, this study provides a distinctive perspective on India’s economic growth. A unique data set comprising 27 sectors of Indian economy at a disaggregate industry level for a period of 30 years, beginning 1980s, attempts to understand the dynamics of India’s growth from the contribution of industries that comprise the Indian economy.\u0000\u0000\u0000Findings\u0000This productivity data set offers a new way of analyzing the dynamics of growth including the sources of growth. The growth empirics allow evaluation of the relative significance of total factor productivity growth vis-a-vis input accumulation in accounting for output growth. In addition, the authors were able to document the industry contributions to aggregate growth. In this way, they were able to analyze the importance of the constituent industries within the different sectors of the economy − agriculture, manufacturing, construction and market, as well as non-market services in accounting for the observed growth in India. In conclusion, the industry perspective offers a new and analytical way of discerning new aspects of India’s march to higher growth regimes in post-1990s era.\u0000\u0000\u0000Originality/value\u0000A unique data set comprising 27 sectors of Indian economy at a disaggregate industry level for a period of 30 years, beginning 1980s, attempts to understand the dynamics of India’s growth from the contribution of industries that comprise the Indian economy.\u0000","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2019-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-05-2018-0054","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44982068","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 : 2019-04-08DOI: 10.1108/IGDR-01-2018-0010
T. Das
The purpose of this paper is to analyze the determinants of awareness and use of credit sources. The paper attempts to answer the critical question: is awareness of credit sources prerequisite for their use?,This study is conducted in Assam, India, and uses a two-stage econometric model to reduce possible selection bias.,This study argues that awareness of credit sources may be a necessary but not sufficient prerequisite for use. It is found that, in general, formal, semiformal and informal sources attract different classes of the population with respect to economic and social indicators.,The study recommends expanding the scope of semiformal and informal credit sources in rural areas of Assam only for income generating activities with proper market linkages. The possible limitation of the study can be due to exclusion of the role of traditional community-based organizations in rural Assam while analyzing the awareness and use of credit sources.,The study contributes to the literature by assessing the probable differences among formal, semiformal and informal credit sources with respect to their determinants of awareness and use.
{"title":"Is awareness of credit sources prerequisite for their use? A study of rural Assam","authors":"T. Das","doi":"10.1108/IGDR-01-2018-0010","DOIUrl":"https://doi.org/10.1108/IGDR-01-2018-0010","url":null,"abstract":"The purpose of this paper is to analyze the determinants of awareness and use of credit sources. The paper attempts to answer the critical question: is awareness of credit sources prerequisite for their use?,This study is conducted in Assam, India, and uses a two-stage econometric model to reduce possible selection bias.,This study argues that awareness of credit sources may be a necessary but not sufficient prerequisite for use. It is found that, in general, formal, semiformal and informal sources attract different classes of the population with respect to economic and social indicators.,The study recommends expanding the scope of semiformal and informal credit sources in rural areas of Assam only for income generating activities with proper market linkages. The possible limitation of the study can be due to exclusion of the role of traditional community-based organizations in rural Assam while analyzing the awareness and use of credit sources.,The study contributes to the literature by assessing the probable differences among formal, semiformal and informal credit sources with respect to their determinants of awareness and use.","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":"12 1","pages":"131-146"},"PeriodicalIF":1.4,"publicationDate":"2019-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-01-2018-0010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41826548","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 : 2019-04-08DOI: 10.1108/IGDR-03-2018-0033
Manjistha Banerji, A. Deshpande
Purpose This paper examines perceived labor market earnings among adolescents and their parents by gender and caste. Previous research has established that lower subjective expectations of labor market returns among parents affect educational investment. Likewise, subjective expectations of adolescents about labor market returns are likely to affect their commitment to their education. In the labor market, gender and caste biases manifest itself in terms of lower wages for women and persons from marginalized communities. The authors ask if perceived earnings among adolescents and their parents vary by caste and gender over and above their intrinsic ability. Design/methodology/approach The authors use a unique dataset on adolescents that has been recently collected (2013-2015) by ASER Centre, the research and assessment wing of Pratham Education Foundation for the analysis. To answer the research question posed in the paper, they use standard OLS and quantile regression techniques. Findings Results confirm that girls have lower expected earnings than boys. Caste differences appear more rigid in Bihar. Research limitations/implications The authors recognize that the results presented do not take into consideration the issue of selection bias. Hence, they are applicable not to the average adolescents in the study districts, but only to those who reported expected earnings. That said, they do not think that this technical limitation dilutes the broad policy conclusions emerging from the study. Originality/value The paper uses cognition as a measure of an adolescent’s intrinsic ability. Therein lays the uniqueness of the paper. It brings into the discussion on expected earnings test scores as a measure of an adolescent’s cognitive ability. It is also unique in that it focuses on adolescents in the age group of 11-16 years who are likely to join the labor force in few years. Previous discussion of subjective expectations in India did not include any measure to capture cognitive ability and did not focus exclusively on adolescents.
{"title":"Inequality in the labor market: lower perceived returns among marginalized youths and girls","authors":"Manjistha Banerji, A. Deshpande","doi":"10.1108/IGDR-03-2018-0033","DOIUrl":"https://doi.org/10.1108/IGDR-03-2018-0033","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000This paper examines perceived labor market earnings among adolescents and their parents by gender and caste. Previous research has established that lower subjective expectations of labor market returns among parents affect educational investment. Likewise, subjective expectations of adolescents about labor market returns are likely to affect their commitment to their education. In the labor market, gender and caste biases manifest itself in terms of lower wages for women and persons from marginalized communities. The authors ask if perceived earnings among adolescents and their parents vary by caste and gender over and above their intrinsic ability. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000The authors use a unique dataset on adolescents that has been recently collected (2013-2015) by ASER Centre, the research and assessment wing of Pratham Education Foundation for the analysis. To answer the research question posed in the paper, they use standard OLS and quantile regression techniques. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000Results confirm that girls have lower expected earnings than boys. Caste differences appear more rigid in Bihar. \u0000 \u0000 \u0000 \u0000 \u0000Research limitations/implications \u0000 \u0000 \u0000 \u0000 \u0000The authors recognize that the results presented do not take into consideration the issue of selection bias. Hence, they are applicable not to the average adolescents in the study districts, but only to those who reported expected earnings. That said, they do not think that this technical limitation dilutes the broad policy conclusions emerging from the study. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000The paper uses cognition as a measure of an adolescent’s intrinsic ability. Therein lays the uniqueness of the paper. It brings into the discussion on expected earnings test scores as a measure of an adolescent’s cognitive ability. It is also unique in that it focuses on adolescents in the age group of 11-16 years who are likely to join the labor force in few years. Previous discussion of subjective expectations in India did not include any measure to capture cognitive ability and did not focus exclusively on adolescents.","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":"12 1","pages":"38-64"},"PeriodicalIF":1.4,"publicationDate":"2019-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-03-2018-0033","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45632568","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 : 2019-04-08DOI: 10.1108/IGDR-08-2017-0056
D. Sinha, Shuvo Roy Chowdhury
The Government of India announced its liberalization policy in the year 1991. Since then, the major ports in India introduced privatization in various forms into their operations. However, the share of total traffic (cargo) handled by major ports fell from 90 per cent in 1991 to around 70 per cent in 2015, losing share to minor ports. These major ports, except for the port of Kamarajar, are governed by the Major Port Trust Act, 1961. None of the Indian ports feature amongst the top 20 ports of the world. Interestingly, several ports in Asia, namely, seven ports from China, Singapore, Hong Kong and Malaysia are on that list. Several studies and reports have shown that privatization in India did not yield the desired results. Ports in India have adopted a hybrid mode of governance, aligned between a landlord port model and a service port model. This paper aims to address the question – What is the optimal way to mix privatisation and government control in the operations of major ports of India.,In this paper, the authors attempt to develop an optimization model for port planners to decide on the optimum mix of privatized and self-managed operations so as to maintain efficiency and maximize revenue.,The model tested on a major port in the country shows that the present privatization policy followed by the port needs revision. A similar plan to revise their policies can be carried out for other major ports in the country.,The model is generic and can be used by any port in the world operating under conditions similar to those in India.
{"title":"Optimizing private and public mode of operation in major ports of India for better customer service","authors":"D. Sinha, Shuvo Roy Chowdhury","doi":"10.1108/IGDR-08-2017-0056","DOIUrl":"https://doi.org/10.1108/IGDR-08-2017-0056","url":null,"abstract":"The Government of India announced its liberalization policy in the year 1991. Since then, the major ports in India introduced privatization in various forms into their operations. However, the share of total traffic (cargo) handled by major ports fell from 90 per cent in 1991 to around 70 per cent in 2015, losing share to minor ports. These major ports, except for the port of Kamarajar, are governed by the Major Port Trust Act, 1961. None of the Indian ports feature amongst the top 20 ports of the world. Interestingly, several ports in Asia, namely, seven ports from China, Singapore, Hong Kong and Malaysia are on that list. Several studies and reports have shown that privatization in India did not yield the desired results. Ports in India have adopted a hybrid mode of governance, aligned between a landlord port model and a service port model. This paper aims to address the question – What is the optimal way to mix privatisation and government control in the operations of major ports of India.,In this paper, the authors attempt to develop an optimization model for port planners to decide on the optimum mix of privatized and self-managed operations so as to maintain efficiency and maximize revenue.,The model tested on a major port in the country shows that the present privatization policy followed by the port needs revision. A similar plan to revise their policies can be carried out for other major ports in the country.,The model is generic and can be used by any port in the world operating under conditions similar to those in India.","PeriodicalId":42861,"journal":{"name":"Indian Growth and Development Review","volume":"12 1","pages":"2-37"},"PeriodicalIF":1.4,"publicationDate":"2019-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/IGDR-08-2017-0056","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42255398","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：