Pub Date : 2022-03-09DOI: 10.1177/00194662221082204
Ashmita Kesar, B. Kamaiah, P. Jena, M. Yadav
There are studies available that study the influence of corruption on economic growth, but no existing literature studies the asymmetric relationship in context to BRICS countries. In this study, we try to fill the gap in the literature by studying the symmetric and asymmetric association between corruption, political stability and economic growth in BRICS economies where gross fixed capital formation and final consumption expenditure are considered additional variables. Further, we employ panel non-linear autoregressive distributed lag model from 1996–2018. In the long run, the non-linear estimation results confirm an asymmetric relationship while all variables show the asymmetric relationship in the short run. Additionally, the study has employed Dumitrescu–Hurlin (2012) test to find the direction of causality among the variables. The test confirms the causality in particular variables taking economic growth as dependent variable and the decomposed explanatory variables. The article’s findings provide new insight into the relationship between corruption, political stability and economic growth. JEL Codes: D73, F35
{"title":"The Asymmetric Relationship between Corruption, Political Stability and Economic Growth: New Evidence from BRICS Countries","authors":"Ashmita Kesar, B. Kamaiah, P. Jena, M. Yadav","doi":"10.1177/00194662221082204","DOIUrl":"https://doi.org/10.1177/00194662221082204","url":null,"abstract":"There are studies available that study the influence of corruption on economic growth, but no existing literature studies the asymmetric relationship in context to BRICS countries. In this study, we try to fill the gap in the literature by studying the symmetric and asymmetric association between corruption, political stability and economic growth in BRICS economies where gross fixed capital formation and final consumption expenditure are considered additional variables. Further, we employ panel non-linear autoregressive distributed lag model from 1996–2018. In the long run, the non-linear estimation results confirm an asymmetric relationship while all variables show the asymmetric relationship in the short run. Additionally, the study has employed Dumitrescu–Hurlin (2012) test to find the direction of causality among the variables. The test confirms the causality in particular variables taking economic growth as dependent variable and the decomposed explanatory variables. The article’s findings provide new insight into the relationship between corruption, political stability and economic growth. JEL Codes: D73, F35","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"249 - 270"},"PeriodicalIF":0.0,"publicationDate":"2022-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49613776","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 : 2022-03-03DOI: 10.1177/00194662221082205
A. Siddiqui
The emphasis on enhancing and specialising in technology exports and altering policy environment in Asian economies has been dominant since 2000. The present study is an attempt to empirically investigate the effect of technology exports on enhancing growth of Asian economies during the period 2001 to 2018. To assess the linkages between growth, investments, labour productivity and technology exports, panel least squares with cross section weights is applied for the economies. To assess the relationship between the variables for each individual country ARDL technique is applied. The results indicate long run relationship between low, medium low and medium high technology exports and growth as well as domestic investment and growth. For individual nations, the results indicate varying intensity of technology exports have a different relationship with growth. The results also suggest the need for Government of each nation to enhance its effort on the development of policies which focus on attracting investments and further promoting exports of technology intensive sectors. JEL Codes: F14, F60, O19
{"title":"Technology Intensive Exports and Growth of Asian Economies","authors":"A. Siddiqui","doi":"10.1177/00194662221082205","DOIUrl":"https://doi.org/10.1177/00194662221082205","url":null,"abstract":"The emphasis on enhancing and specialising in technology exports and altering policy environment in Asian economies has been dominant since 2000. The present study is an attempt to empirically investigate the effect of technology exports on enhancing growth of Asian economies during the period 2001 to 2018. To assess the linkages between growth, investments, labour productivity and technology exports, panel least squares with cross section weights is applied for the economies. To assess the relationship between the variables for each individual country ARDL technique is applied. The results indicate long run relationship between low, medium low and medium high technology exports and growth as well as domestic investment and growth. For individual nations, the results indicate varying intensity of technology exports have a different relationship with growth. The results also suggest the need for Government of each nation to enhance its effort on the development of policies which focus on attracting investments and further promoting exports of technology intensive sectors. JEL Codes: F14, F60, O19","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"229 - 248"},"PeriodicalIF":0.0,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46102674","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 : 2022-03-03DOI: 10.1177/00194662221082188
Sakshi Sharma, Kunjana Malik
The study investigates long-run and short-run cointegrating relationship between stock market returns, fear index (VIX), brent crude oil prices and growth in deaths due to the COVID-19 pandemic for BRIC countries using daily data from 23 January 2020 to 24 August 2020 using Autoregressive Distributed Lag (ARDL) model. CUSUM test and serial correlation test estimates point towards the robustness of the model used. The evidence reveals that for India and Brazil, with the outbreak of COVID-19, decrease in crude oil prices and increase in volatility index, the stock returns started declining in the short run, but the impact has declined and the stock returns have regained in the long run. For China, due to the outbreak of COVID-19 and increase in fear index, stock returns declined in the short run, but the Chinese economy has recovered well due to a strong industrial and services sector. For Russia, increase in deaths due to COVID and decline in oil prices has impacted the stock returns in the long- and short run. Due to a decline of 53% for crude oil prices from January 2020 to May 2020, the Russian economy would face the consequences in the long run as well. The results suggest that though BRIC countries were impacted by growth in COVID-19 deaths, but the recovery trajectory and stability has resumed for all countries except Russia. Results of Granger Causality indicate a bidirectional causality between VIX and stock returns for the Indian market.
{"title":"Comovement of Fear Index, Stock Returns, Brent Oil Prices in BRIC Countries: The Case of COVID-19","authors":"Sakshi Sharma, Kunjana Malik","doi":"10.1177/00194662221082188","DOIUrl":"https://doi.org/10.1177/00194662221082188","url":null,"abstract":"The study investigates long-run and short-run cointegrating relationship between stock market returns, fear index (VIX), brent crude oil prices and growth in deaths due to the COVID-19 pandemic for BRIC countries using daily data from 23 January 2020 to 24 August 2020 using Autoregressive Distributed Lag (ARDL) model. CUSUM test and serial correlation test estimates point towards the robustness of the model used. The evidence reveals that for India and Brazil, with the outbreak of COVID-19, decrease in crude oil prices and increase in volatility index, the stock returns started declining in the short run, but the impact has declined and the stock returns have regained in the long run. For China, due to the outbreak of COVID-19 and increase in fear index, stock returns declined in the short run, but the Chinese economy has recovered well due to a strong industrial and services sector. For Russia, increase in deaths due to COVID and decline in oil prices has impacted the stock returns in the long- and short run. Due to a decline of 53% for crude oil prices from January 2020 to May 2020, the Russian economy would face the consequences in the long run as well. The results suggest that though BRIC countries were impacted by growth in COVID-19 deaths, but the recovery trajectory and stability has resumed for all countries except Russia. Results of Granger Causality indicate a bidirectional causality between VIX and stock returns for the Indian market.","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"559 - 576"},"PeriodicalIF":0.0,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48426717","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 : 2022-03-02DOI: 10.1177/00194662221082225
S. Gopalan
India has rapidly evolved into a fast-growing emerging market with one of the largest start-up ecosystems in the world. Despite the rapid strides, the nature of investment distribution of start-ups remain heavily concentrated in specific regions within India, fuelling concerns of regional disparities. In this research note, I empirically explore the determinants of start-up investments in India’s subnational economies, to identify the conditioning variables that possibly drive such investments. JEL Codes: L26, O53, R11, R12
{"title":"What Factors Drive Start-Up Investments in India’s Subnational Economies?","authors":"S. Gopalan","doi":"10.1177/00194662221082225","DOIUrl":"https://doi.org/10.1177/00194662221082225","url":null,"abstract":"India has rapidly evolved into a fast-growing emerging market with one of the largest start-up ecosystems in the world. Despite the rapid strides, the nature of investment distribution of start-ups remain heavily concentrated in specific regions within India, fuelling concerns of regional disparities. In this research note, I empirically explore the determinants of start-up investments in India’s subnational economies, to identify the conditioning variables that possibly drive such investments. JEL Codes: L26, O53, R11, R12","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"370 - 373"},"PeriodicalIF":0.0,"publicationDate":"2022-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47977829","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 : 2022-03-01DOI: 10.1177/00194662221083170
S. Bhushan
The present issue examines relationships between growth and number of other variables such as innovation, per capita electricity consumption and air and road transport in India. The importance of innovation in economic development is well recognised in the academic literature. An article by Ajay K. Sarangi et al. on ‘How does innovation affect economic growth? Evidence from G-20 countries’ points out temporal causality between these two variables over the period 1961–2019 in majority of countries. Another article by Ranjan Aneja and Megha Mathpal on ‘Economic growth and electricity consumption in India: An econometric analysis’ notes that there exists a bidirectional causal relationship between the per capita electricity consumption and per capita gross domestic product whereas there exists unidirectional causality from employment pattern in India to per capita gross domestic product over the period 1991–2018. Prabir Kumar Ghosh and Soumyananda Dinda in an article on ‘Revisited the relationship between economic growth and transport infrastructure in India: An empirical study’ note that road and air transports have significant positive contribution to economic growth during the period 1990–2017. Moutushi Chakraborty and Biswajit Maitra in an article on ‘Import demand function in India under the liberalised trade regime’ analyse the import demand function in India during 1980–2018 and for the postreform period, 1992–2018 in terms of income, consumption, investment and export expenditure. The estimated import demand function is found to be stable and robust during the period. An article by Shilpi Tyagi and Varun Mahajan on ‘What determines profitability in the Indian automobile industry?’ finds that lagged profitability, marketing and advertising intensity, firms market power and operational efficiency have positive impact on firm level profitability whereas impact of raw material import intensity and export intensity has negative impact on firm level profitability. In an interesting study by Ishfaq Hamid and Pabitra Kumar Jena the impact of democracy on FDI flows in India is being examined over a period of 1980–2017. There is a positive and significant impact of democracy on the direct investment flows in India. An article by Poovitha Murugasamy and Vandita Mishra notes the importance of the policy of economies energy mix whereby non-renewable resources are combined with the demand for green energy and efficiency. Gourishankar S. Hiremath and Supratik Deb in the article on ‘Export performance of MSMEs in India: Is credit constraint an invisible Gorilla?’ note that access to foreign currency borrowings improved the performance of the micro, small and medium enterprises. Priyabrata Sahoo et al. in an article on ‘Inclusiveness of poverty reduction: A study of Andhra Pradesh and Telangana’ suggest that the poverty reduction scheme should focus on different sections of the people irrespective of rural and urban sectors to make the poverty reduction prog
{"title":"Editorial","authors":"S. Bhushan","doi":"10.1177/00194662221083170","DOIUrl":"https://doi.org/10.1177/00194662221083170","url":null,"abstract":"The present issue examines relationships between growth and number of other variables such as innovation, per capita electricity consumption and air and road transport in India. The importance of innovation in economic development is well recognised in the academic literature. An article by Ajay K. Sarangi et al. on ‘How does innovation affect economic growth? Evidence from G-20 countries’ points out temporal causality between these two variables over the period 1961–2019 in majority of countries. Another article by Ranjan Aneja and Megha Mathpal on ‘Economic growth and electricity consumption in India: An econometric analysis’ notes that there exists a bidirectional causal relationship between the per capita electricity consumption and per capita gross domestic product whereas there exists unidirectional causality from employment pattern in India to per capita gross domestic product over the period 1991–2018. Prabir Kumar Ghosh and Soumyananda Dinda in an article on ‘Revisited the relationship between economic growth and transport infrastructure in India: An empirical study’ note that road and air transports have significant positive contribution to economic growth during the period 1990–2017. Moutushi Chakraborty and Biswajit Maitra in an article on ‘Import demand function in India under the liberalised trade regime’ analyse the import demand function in India during 1980–2018 and for the postreform period, 1992–2018 in terms of income, consumption, investment and export expenditure. The estimated import demand function is found to be stable and robust during the period. An article by Shilpi Tyagi and Varun Mahajan on ‘What determines profitability in the Indian automobile industry?’ finds that lagged profitability, marketing and advertising intensity, firms market power and operational efficiency have positive impact on firm level profitability whereas impact of raw material import intensity and export intensity has negative impact on firm level profitability. In an interesting study by Ishfaq Hamid and Pabitra Kumar Jena the impact of democracy on FDI flows in India is being examined over a period of 1980–2017. There is a positive and significant impact of democracy on the direct investment flows in India. An article by Poovitha Murugasamy and Vandita Mishra notes the importance of the policy of economies energy mix whereby non-renewable resources are combined with the demand for green energy and efficiency. Gourishankar S. Hiremath and Supratik Deb in the article on ‘Export performance of MSMEs in India: Is credit constraint an invisible Gorilla?’ note that access to foreign currency borrowings improved the performance of the micro, small and medium enterprises. Priyabrata Sahoo et al. in an article on ‘Inclusiveness of poverty reduction: A study of Andhra Pradesh and Telangana’ suggest that the poverty reduction scheme should focus on different sections of the people irrespective of rural and urban sectors to make the poverty reduction prog","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"7 - 7"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42301011","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 : 2022-02-28DOI: 10.1177/00194662221082195
R. Deb
Indian direct tax collections have remained sluggish over the period coupled with the lesser tax buoyancy have compelled the government to collect revenues from the untapped or under-tapped sources to finance the galloping expenditure such as the health and defence. To achieve the fixed money value targets the taxmen have been putting excessive pressures on the taxpayers who have created a panic, likely to tantamount to infamous tax terrorism and tax disputes have arisen blocking substantial tax revenues in litigations. Taking this in to cognisance the government has attempted to rationalise the tax system by introducing tax amnesty scheme such as the Vivad-se-Viswas and by launching a Faceless Assessment Scheme (FAS) and tax charter, which is likely to address the tax disputes significantly. To increase the revenue, the best approach for the government is to broadening the tax base, reducing the tax rates, rationalising the tax system, formalising the unorganised sectors and by enhancing the lower household incomes substantially in lieu of serving notices to the non-filers is the need of the hour. JEL Codes: E62, H25
{"title":"Limning India’s Direct Tax Collection Contractions","authors":"R. Deb","doi":"10.1177/00194662221082195","DOIUrl":"https://doi.org/10.1177/00194662221082195","url":null,"abstract":"Indian direct tax collections have remained sluggish over the period coupled with the lesser tax buoyancy have compelled the government to collect revenues from the untapped or under-tapped sources to finance the galloping expenditure such as the health and defence. To achieve the fixed money value targets the taxmen have been putting excessive pressures on the taxpayers who have created a panic, likely to tantamount to infamous tax terrorism and tax disputes have arisen blocking substantial tax revenues in litigations. Taking this in to cognisance the government has attempted to rationalise the tax system by introducing tax amnesty scheme such as the Vivad-se-Viswas and by launching a Faceless Assessment Scheme (FAS) and tax charter, which is likely to address the tax disputes significantly. To increase the revenue, the best approach for the government is to broadening the tax base, reducing the tax rates, rationalising the tax system, formalising the unorganised sectors and by enhancing the lower household incomes substantially in lieu of serving notices to the non-filers is the need of the hour. JEL Codes: E62, H25","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"365 - 369"},"PeriodicalIF":0.0,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42035102","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 : 2022-01-14DOI: 10.1177/00194662211063540
Poovitha Murugasamy, Vandita Mishra
Modernisation theorists reiterate endogenous growth models by acknowledging technological production for a rise in the efficiency of energy-use. Yet, world system analysts blame economic production for causing environmental degradation. As economic and demographic modernisation continue to raise the magnitude of extraction despite their declining economic intensity, the dichotomy draws attention to Jevons’ paradox. Debates ingeminating ‘The End of Cheap Oil’ raise arguments about India’s energy deficit despite measures to raise its energy self-sufficiency. Do policies aiming at reducing energy consumption through efficiency enhancement fulfil their targets or does the reality reverse the objectives of the policy? Focusing on the two pillars of energy policy (efficiency-demand and supply), Ordinary Least Square (OLS) technique and Granger causality have been employed to model the energy efficiency–consumption nexus and other determinants of energy consumption, across sectors. The magnitude of energy intensity effect is stronger in the agricultural sector than the other sectors. This analysis records evidence of Sectoral Rebound effects confirming Jevons’ paradox, whereby the economy’s energy mix which is strongly inclined towards non-renewable resources combined with the demand for green energy and efficiency, clearly supports the government’s recent policy moves in the direction of renewable energy generation and electricity substitution. JEL Codes: O13, Q42, Q43, Q48
{"title":"Energy Efficiency Versus Consumption: An Empirical Investigation of Jevons’ Paradox Across Sectors in India","authors":"Poovitha Murugasamy, Vandita Mishra","doi":"10.1177/00194662211063540","DOIUrl":"https://doi.org/10.1177/00194662211063540","url":null,"abstract":"Modernisation theorists reiterate endogenous growth models by acknowledging technological production for a rise in the efficiency of energy-use. Yet, world system analysts blame economic production for causing environmental degradation. As economic and demographic modernisation continue to raise the magnitude of extraction despite their declining economic intensity, the dichotomy draws attention to Jevons’ paradox. Debates ingeminating ‘The End of Cheap Oil’ raise arguments about India’s energy deficit despite measures to raise its energy self-sufficiency. Do policies aiming at reducing energy consumption through efficiency enhancement fulfil their targets or does the reality reverse the objectives of the policy? Focusing on the two pillars of energy policy (efficiency-demand and supply), Ordinary Least Square (OLS) technique and Granger causality have been employed to model the energy efficiency–consumption nexus and other determinants of energy consumption, across sectors. The magnitude of energy intensity effect is stronger in the agricultural sector than the other sectors. This analysis records evidence of Sectoral Rebound effects confirming Jevons’ paradox, whereby the economy’s energy mix which is strongly inclined towards non-renewable resources combined with the demand for green energy and efficiency, clearly supports the government’s recent policy moves in the direction of renewable energy generation and electricity substitution. JEL Codes: O13, Q42, Q43, Q48","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"112 - 137"},"PeriodicalIF":0.0,"publicationDate":"2022-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47279002","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 : 2022-01-04DOI: 10.1177/00194662211063567
R. P. Mamgain, Khalida Khan
One of the major policy concerns in recent years has been decline in the number of women workers in the Indian labour market. The ‘education’ and ‘income’ effect hypotheses for such decline are generally advocated. Such analyses, however, are limited in their focus. This study attempts to fill up this gap by exclusively focusing on rural women. Using the National Sample Survey Organisation (NSSO) data for the years 2004–2005 and 2011–2012 and Periodic Labour Force Survey data for the year 2017–2018, it observes a widespread decline in rural women’s work participation rates (WPRs) across their different social groups, income strata and states in the country albeit at a significantly varying rate. While the major decline in women WPRs in the age-group, 15–24 years has been in favour of education, it has been largely in favour of ‘domestic works’ in the other age-groups. The major decline in women workforce is observed in case of those as not-literates, ‘unpaid family labour’ in agriculture and ‘casual wage labour’ both in farm and non-farm sectors. This is largely due to contraction in self-employment and casual wage works both in farm and non-farm sectors, more so during recent period. This study finds a positive impact of rising household income on women’s WPRs. While education emerges as a significant predictor of women joining workforce, its iteration with their social groups shows differing impact of similar level of education on different caste groups. It offers inputs for policy measures to be aimed at providing decent livelihoods in rural areas in a big scale, with strong focus on reducing caste and gender disparities. JEL Codes: E24, J16, J21, J18
{"title":"Declining Women Work Participation in Rural India: Trends, Causes and Policy Implications","authors":"R. P. Mamgain, Khalida Khan","doi":"10.1177/00194662211063567","DOIUrl":"https://doi.org/10.1177/00194662211063567","url":null,"abstract":"One of the major policy concerns in recent years has been decline in the number of women workers in the Indian labour market. The ‘education’ and ‘income’ effect hypotheses for such decline are generally advocated. Such analyses, however, are limited in their focus. This study attempts to fill up this gap by exclusively focusing on rural women. Using the National Sample Survey Organisation (NSSO) data for the years 2004–2005 and 2011–2012 and Periodic Labour Force Survey data for the year 2017–2018, it observes a widespread decline in rural women’s work participation rates (WPRs) across their different social groups, income strata and states in the country albeit at a significantly varying rate. While the major decline in women WPRs in the age-group, 15–24 years has been in favour of education, it has been largely in favour of ‘domestic works’ in the other age-groups. The major decline in women workforce is observed in case of those as not-literates, ‘unpaid family labour’ in agriculture and ‘casual wage labour’ both in farm and non-farm sectors. This is largely due to contraction in self-employment and casual wage works both in farm and non-farm sectors, more so during recent period. This study finds a positive impact of rising household income on women’s WPRs. While education emerges as a significant predictor of women joining workforce, its iteration with their social groups shows differing impact of similar level of education on different caste groups. It offers inputs for policy measures to be aimed at providing decent livelihoods in rural areas in a big scale, with strong focus on reducing caste and gender disparities. JEL Codes: E24, J16, J21, J18","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"347 - 364"},"PeriodicalIF":0.0,"publicationDate":"2022-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44534451","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 : 2021-12-23DOI: 10.1177/00194662211063574
Shilpi Tyagi, Varun Mahajan
This study tends to examine the firm-level profitability determinants of Indian automobile and ancillary industry which is recognised for its global competitiveness. The study uses recent dataset to investigate the firm-level profitability determinants in the Indian automobile and ancillary industry and records the effect of shifts in profitability due to change in economic environment. This study intends at using real financial balanced panel data for a period 1999–2019 and applies the two-step system generalised method of moments regression model with robust standard errors. The study has found that lagged profitability, marketing and advertising intensity, firm’s market power and operational efficiency have exercised positive impact on firm-level profitability. Negative and statistically significant impact of raw material import intensity and export intensity highlights the need of planning and implementation of appropriate investment strategies. The findings of this study suggest that firms should pay more attention to optimise their operating expenditures, marketing and advertisement expenditures and expand their market power as a part of their survival and growth strategy. JEL Code: L25
{"title":"What Determines Profitability in the Indian Automobile Industry?","authors":"Shilpi Tyagi, Varun Mahajan","doi":"10.1177/00194662211063574","DOIUrl":"https://doi.org/10.1177/00194662211063574","url":null,"abstract":"This study tends to examine the firm-level profitability determinants of Indian automobile and ancillary industry which is recognised for its global competitiveness. The study uses recent dataset to investigate the firm-level profitability determinants in the Indian automobile and ancillary industry and records the effect of shifts in profitability due to change in economic environment. This study intends at using real financial balanced panel data for a period 1999–2019 and applies the two-step system generalised method of moments regression model with robust standard errors. The study has found that lagged profitability, marketing and advertising intensity, firm’s market power and operational efficiency have exercised positive impact on firm-level profitability. Negative and statistically significant impact of raw material import intensity and export intensity highlights the need of planning and implementation of appropriate investment strategies. The findings of this study suggest that firms should pay more attention to optimise their operating expenditures, marketing and advertisement expenditures and expand their market power as a part of their survival and growth strategy. JEL Code: L25","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"70 1","pages":"71 - 87"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48161241","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 : 2021-12-22DOI: 10.1177/00194662211063575
Priyabrata Sahoo, Kalandi Charan Pradhan, T. Nayak
This study examines the inclusiveness of poverty reduction among the newly formed states of undivided Andhra Pradesh by looking into the poverty among the different socio-religious groups both in the rural and urban regions during the 2000’s. The major proposition that has highlighted in this study: which socio-religious groups are more poverty ridden in the undivided Andhra Pradesh and its bifurcated states (Andhra Pradesh and Telangana)? The National Sample Survey Organisation unit level data (61st and 68th rounds) on Consumption Expenditure Survey have been used for the analysis. The result reveals that Telangana is having lower poverty level than Andhra Pradesh and records a faster reduction in poverty during 2004–2005 to 2011–2012. Andhra Pradesh constitutes around 70% of the total poor of the undivided Andhra Pradesh. This study found that most of the Scheduled Tribes, Scheduled Castes among the social groups and Muslims among the religious groups are more vulnerable and having higher head count ratio than the state average. Although several welfare programmes and schemes have already been implemented to eradicate poverty and inequality, still it is not effective in the ground level. Based on this argument, our study suggests that the schemes should focus on different sections of the people irrespective of rural and urban sectors in both the recently bifurcated states of Telangana and Andhra Pradesh. JEL Codes: I 32, D 63, P 25
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