Pub Date : 2024-02-12DOI: 10.1177/00194662241227597
Saroj Verma, P. Jena
This article explores the socioeconomic factors of wheat growers’ participation intensity in contract farming (CF) under both public and private firms in Haryana. Using the primary survey data of 754 wheat growers collected from two districts of Haryana, the study finds that CF participation intensity is higher under government corporations than in private firms. The Tobit regression results show that similar variables determine the participation intensity under both types of firms. But the perception of agricultural profitability has different significant signs for public and private firms. This difference in profitability perception spawns from the different contracting nature of both types of firms. The government firms directly contact farmers, while private firms hire agents to communicate with farmers. In addition, government firms encourage marginal and small farmers to adopt CF, while private firms prefer medium to large farmers owning a minimum of five acres of cultivable land. Payment security is another reason for the intensity difference between types of firms. Therefore, the study calls for a policy framework to establish better institutional structure to strengthen CF inclusiveness, where both types of firms provide the scope for more extensive participation across the groups of farmers. JEL Codes: Q12, Q13, C01
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Pub Date : 2024-02-12DOI: 10.1177/00194662241227597
Saroj Verma, P. Jena
This article explores the socioeconomic factors of wheat growers’ participation intensity in contract farming (CF) under both public and private firms in Haryana. Using the primary survey data of 754 wheat growers collected from two districts of Haryana, the study finds that CF participation intensity is higher under government corporations than in private firms. The Tobit regression results show that similar variables determine the participation intensity under both types of firms. But the perception of agricultural profitability has different significant signs for public and private firms. This difference in profitability perception spawns from the different contracting nature of both types of firms. The government firms directly contact farmers, while private firms hire agents to communicate with farmers. In addition, government firms encourage marginal and small farmers to adopt CF, while private firms prefer medium to large farmers owning a minimum of five acres of cultivable land. Payment security is another reason for the intensity difference between types of firms. Therefore, the study calls for a policy framework to establish better institutional structure to strengthen CF inclusiveness, where both types of firms provide the scope for more extensive participation across the groups of farmers. JEL Codes: Q12, Q13, C01
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Pub Date : 2024-02-07DOI: 10.1177/00194662231218596
Mahesh Dahal, Joy Das, Amit Sangma
The present study is an attempt to analyse the behaviour of securities around the outbreak of the COVID-19 pandemic and the declaration of an economic package by the government of India. In this study, daily prices of securities constituting the BSE 100 index are considered as these securities are highly traded and their trading impact would immediately reflect on the index. To present a sector-specific analysis, the securities are further classified based on sectors and are analysed using the event study methodology. Average abnormal returns (AARs) and cumulative average abnormal returns (CAARs) for overall market and for each sector have been calculated and their significance have been tested using parametric T-statistics, standardised cross-sectional test and non-parametric sign test. Based on the analysis, the study concluded that it was not the pandemic but the actions towards controlling the pandemic that caused a negative impact on the Indian stock market. The economic package declared by the government of India to boost the economy also turned out to be futile and failed in achieving its objectives. Among the sectors, only the technology sector has been positively impacted by the pandemic. The outcome of the study would be beneficial to the trading community in identifying the sectors/securities that would act as hedging in the pandemic situations. JEL Codes: E44, G1, G14, G18
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Pub Date : 2024-02-07DOI: 10.1177/00194662231223702
Minaketan Behera
Agriculture has been brought to the forefront of policymaking, parliamentary debate, and political discussions in recent history. India’s Parliament recently voted to scrap agricultural reform laws which came up as a huge victory for the farmers’ movement, who have been protesting for over a year for the rollback of the laws. This farmers’ movement created history at the national and international levels in the present times. The government had passed three farm laws to transform agriculture and increase farmer income without detailed consultations with all stakeholders. This led to protests by the farmer community by blocking roads and highways, calling an All-India Bandh, which attracted public attention and brought weight to the farmer issues, leading to achievement for the ‘Annadatas’ of the country. The article discusses the predicaments of the agriculture sector, the problems of the farmers, critical analysis of the three Farm laws, their implementation, implications and finally, its rollback. The reasons for this move have been examined from the political and economic angle with a reflection on its rollback for the future. JEL Codes: Q18, Q10, Q13, Q15
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Pub Date : 2024-02-07DOI: 10.1177/00194662231218596
Mahesh Dahal, Joy Das, Amit Sangma
The present study is an attempt to analyse the behaviour of securities around the outbreak of the COVID-19 pandemic and the declaration of an economic package by the government of India. In this study, daily prices of securities constituting the BSE 100 index are considered as these securities are highly traded and their trading impact would immediately reflect on the index. To present a sector-specific analysis, the securities are further classified based on sectors and are analysed using the event study methodology. Average abnormal returns (AARs) and cumulative average abnormal returns (CAARs) for overall market and for each sector have been calculated and their significance have been tested using parametric T-statistics, standardised cross-sectional test and non-parametric sign test. Based on the analysis, the study concluded that it was not the pandemic but the actions towards controlling the pandemic that caused a negative impact on the Indian stock market. The economic package declared by the government of India to boost the economy also turned out to be futile and failed in achieving its objectives. Among the sectors, only the technology sector has been positively impacted by the pandemic. The outcome of the study would be beneficial to the trading community in identifying the sectors/securities that would act as hedging in the pandemic situations. JEL Codes: E44, G1, G14, G18
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Pub Date : 2024-02-07DOI: 10.1177/00194662231223702
Minaketan Behera
Agriculture has been brought to the forefront of policymaking, parliamentary debate, and political discussions in recent history. India’s Parliament recently voted to scrap agricultural reform laws which came up as a huge victory for the farmers’ movement, who have been protesting for over a year for the rollback of the laws. This farmers’ movement created history at the national and international levels in the present times. The government had passed three farm laws to transform agriculture and increase farmer income without detailed consultations with all stakeholders. This led to protests by the farmer community by blocking roads and highways, calling an All-India Bandh, which attracted public attention and brought weight to the farmer issues, leading to achievement for the ‘Annadatas’ of the country. The article discusses the predicaments of the agriculture sector, the problems of the farmers, critical analysis of the three Farm laws, their implementation, implications and finally, its rollback. The reasons for this move have been examined from the political and economic angle with a reflection on its rollback for the future. JEL Codes: Q18, Q10, Q13, Q15
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Pub Date : 2024-02-06DOI: 10.1177/00194662231213583
Girum Dagne
This study examines the impact of foreign aid on growth in Ethiopia based on time series data from 1980 to 2019. This study uses Autoregressive distributed Lag and an Error Correction to determine the long- and short-run impacts of foreign aid on growth. The empirical results show that, in the long run, foreign aid has a negative and insignificant effect on real GDP growth. However, gross domestic savings, exports, and inflation exert positive and insignificant impacts on GDP growth. Furthermore, Human capital and gross consumption expenditure exert a positive and significant impact on GDP growth, and gross capital information has a negative and significant impact on GDP growth. Thus, Ethiopia’s national development policy should focus on the productive utilisation of domestic savings to increase GDP growth rather than depend on external capital inflow, which is uncertain even when donor countries face long recessions. JEL Codes: E1, E2, E3
本研究基于 1980 年至 2019 年的时间序列数据，探讨了外国援助对埃塞俄比亚经济增长的影响。本研究使用自回归分布滞后和误差修正来确定外国援助对经济增长的长期和短期影响。实证结果表明，从长期来看，外援对实际 GDP 增长的影响为负且不显著。然而，国内储蓄总额、出口和通货膨胀对国内生产总值的增长产生了积极而不显著的影响。此外，人力资本和消费总支出对国内生产总值的增长有积极而显著的影响，而资本信息总额对国内生产总值的增长有消极而显著的影响。因此，埃塞俄比亚的国家发展政策应侧重于国内储蓄的生产性利用，以提高国内生产总值的增长，而不是依赖外部资本流入，因为外部资本流入即使在捐助国面临长期衰退的情况下也是不确定的。JEL Codes：E1, E2, E3
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Pub Date : 2024-02-06DOI: 10.1177/00194662231213583
Girum Dagne
This study examines the impact of foreign aid on growth in Ethiopia based on time series data from 1980 to 2019. This study uses Autoregressive distributed Lag and an Error Correction to determine the long- and short-run impacts of foreign aid on growth. The empirical results show that, in the long run, foreign aid has a negative and insignificant effect on real GDP growth. However, gross domestic savings, exports, and inflation exert positive and insignificant impacts on GDP growth. Furthermore, Human capital and gross consumption expenditure exert a positive and significant impact on GDP growth, and gross capital information has a negative and significant impact on GDP growth. Thus, Ethiopia’s national development policy should focus on the productive utilisation of domestic savings to increase GDP growth rather than depend on external capital inflow, which is uncertain even when donor countries face long recessions. JEL Codes: E1, E2, E3
本研究基于 1980 年至 2019 年的时间序列数据，探讨了外国援助对埃塞俄比亚经济增长的影响。本研究使用自回归分布滞后和误差修正来确定外国援助对经济增长的长期和短期影响。实证结果表明，从长期来看，外援对实际 GDP 增长的影响为负且不显著。然而，国内储蓄总额、出口和通货膨胀对国内生产总值的增长产生了积极而不显著的影响。此外，人力资本和消费总支出对国内生产总值的增长有积极而显著的影响，而资本信息总额对国内生产总值的增长有消极而显著的影响。因此，埃塞俄比亚的国家发展政策应侧重于国内储蓄的生产性利用，以提高国内生产总值的增长，而不是依赖外部资本流入，因为外部资本流入即使在捐助国面临长期衰退的情况下也是不确定的。JEL Codes：E1, E2, E3
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Pub Date : 2024-02-06DOI: 10.1177/00194662231223688
Ajit Sinha
The article discusses some of the major theoretical and practical matters that the discipline of Economics has been grappling with from the times of Adam Smith down to Keynes. The publication of Meghnad Desai’s Poverty of Political Economy turns out to be an occasion or inspiration to revisit these ideas—the article is organised as a review article of the book. JEL Codes: B0, B1, B2, B3
文章讨论了从亚当-斯密到凯恩斯时代经济学学科一直在努力解决的一些重大理论和实践问题。梅格纳德-德赛（Meghnad Desai）的《政治经济学的贫困》（Poverty of Political Economy）一书的出版为我们重新审视这些观点提供了契机或灵感--文章被编排为该书的评论文章。JEL Codes：B0, B1, B2, B3
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Pub Date : 2024-02-06DOI: 10.1177/00194662231223688
Ajit Sinha
The article discusses some of the major theoretical and practical matters that the discipline of Economics has been grappling with from the times of Adam Smith down to Keynes. The publication of Meghnad Desai’s Poverty of Political Economy turns out to be an occasion or inspiration to revisit these ideas—the article is organised as a review article of the book. JEL Codes: B0, B1, B2, B3
文章讨论了从亚当-斯密到凯恩斯时代经济学学科一直在努力解决的一些重大理论和实践问题。梅格纳德-德赛（Meghnad Desai）的《政治经济学的贫困》（Poverty of Political Economy）一书的出版为我们重新审视这些观点提供了契机或灵感--文章被编排为该书的评论文章。JEL Codes：B0, B1, B2, B3
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