Pub Date : 2023-02-02DOI: 10.1177/00194662221148021
Nandini Sud
The objective of the study is to examine the impact of institutional changes in the financial sector on the long-run behaviour of broad money velocity in India. For this purpose, annual time series data from 1970–1971 to 2019–2020 has been used. To avoid the problem of multicollinearity, three institutional factors (urbanisation ratio, ratio of total deposits to currency and DCPS) have been combined to form an institutional factor index using PCA. The unit root results indicate that variables are a mix of I(0) & I(1), therefore, ARDL-ECM methodology is applied. Results indicate that money velocity exhibits a structural break in 2008, conforming to the global economic crises. To examine the impact of institutional factors a benchmark model (BM) containing per capita GDP and rate of interest has been estimated along with an institutional factors model (IFM) which also contains institutional factors index. The results show that there is no co-integration in BM, whereas co-integration was established in IFM. The error-correction term and institutional factors index were highly significant for IFM, confirming the long-run relationship. The explanatory power (adjusted R2) for IFM was considerably higher than BM, indicating that the addition of institutional variables significantly improves the money velocity model for India. JEL Codes: C32, E41, E52
{"title":"Impact of Institutional Factors on the Long-run Behaviour of Money Velocity in India","authors":"Nandini Sud","doi":"10.1177/00194662221148021","DOIUrl":"https://doi.org/10.1177/00194662221148021","url":null,"abstract":"The objective of the study is to examine the impact of institutional changes in the financial sector on the long-run behaviour of broad money velocity in India. For this purpose, annual time series data from 1970–1971 to 2019–2020 has been used. To avoid the problem of multicollinearity, three institutional factors (urbanisation ratio, ratio of total deposits to currency and DCPS) have been combined to form an institutional factor index using PCA. The unit root results indicate that variables are a mix of I(0) & I(1), therefore, ARDL-ECM methodology is applied. Results indicate that money velocity exhibits a structural break in 2008, conforming to the global economic crises. To examine the impact of institutional factors a benchmark model (BM) containing per capita GDP and rate of interest has been estimated along with an institutional factors model (IFM) which also contains institutional factors index. The results show that there is no co-integration in BM, whereas co-integration was established in IFM. The error-correction term and institutional factors index were highly significant for IFM, confirming the long-run relationship. The explanatory power (adjusted R2) for IFM was considerably higher than BM, indicating that the addition of institutional variables significantly improves the money velocity model for India. JEL Codes: C32, E41, E52","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42806377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-26DOI: 10.1177/00194662221137850
Salma Ahmed, D. Chakrabarty, Kishor Sharma
Using data from South Asia for the period 1990–2017, this paper examines the effectiveness of the health sector aid on infant mortality, neonatal mortality, child mortality and a new composite index of child mortality. The investigation of South Asia is interesting not only because it accounts for roughly one quarter of the world population and has attracted significant aid over the years but also because of the significant variations in health outcomes between countries in the region. Applying the instrumental variables method to account for the endogeneity of aid, we find that health-focused aid assists in improving child health outcomes in South Asian countries. The effect operates mainly through female literacy and is robust to a variety of specifications. Our findings have significant policy implications for achieving the post-MDG target and point to the importance of the health sector aid to improve child health for countries swamped with poorer health status. JEL Codes: F35, I15, O53
{"title":"Does Health-related Aid Really Matter? Evidence from South Asia","authors":"Salma Ahmed, D. Chakrabarty, Kishor Sharma","doi":"10.1177/00194662221137850","DOIUrl":"https://doi.org/10.1177/00194662221137850","url":null,"abstract":"Using data from South Asia for the period 1990–2017, this paper examines the effectiveness of the health sector aid on infant mortality, neonatal mortality, child mortality and a new composite index of child mortality. The investigation of South Asia is interesting not only because it accounts for roughly one quarter of the world population and has attracted significant aid over the years but also because of the significant variations in health outcomes between countries in the region. Applying the instrumental variables method to account for the endogeneity of aid, we find that health-focused aid assists in improving child health outcomes in South Asian countries. The effect operates mainly through female literacy and is robust to a variety of specifications. Our findings have significant policy implications for achieving the post-MDG target and point to the importance of the health sector aid to improve child health for countries swamped with poorer health status. JEL Codes: F35, I15, O53","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"452 - 472"},"PeriodicalIF":0.0,"publicationDate":"2023-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48879730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-18DOI: 10.1177/00194662221137269
Sakshi Saini, S. Sehgal
This article investigates monetary policy and stock market interaction across 41 developed and developing economies using GMM-Panel VAR model. The analysis is undertaken in two sub-periods—before and after the crisis of 2008 to make a comparative assessment of whether the relationship between monetary policy and stock prices altered in the aftermath of the crisis. We verify the existence of different channels of monetary transmission to stock prices. Our results point to the prevalence of discount rate channel of monetary policy in affecting stock prices after the crisis of 2008. Further, our results indicate an important role of excess liquidity in pushing stock prices upward in developed economies in the post-crisis period. In developing economies, term premia channel is the dominant channel of transmission to stock prices. Also, we find evidence of monetary authorities of developed economies responding directly to stock price movements to ensure financial stability in the post-crisis period. Central banks react primarily to inflationary pressures by tightening monetary policy both before and after the crisis in developed and developing economies. JEL Codes: C32, E44, E52, F42
{"title":"Monetary Policy and Stock Market Interaction: International Evidence","authors":"Sakshi Saini, S. Sehgal","doi":"10.1177/00194662221137269","DOIUrl":"https://doi.org/10.1177/00194662221137269","url":null,"abstract":"This article investigates monetary policy and stock market interaction across 41 developed and developing economies using GMM-Panel VAR model. The analysis is undertaken in two sub-periods—before and after the crisis of 2008 to make a comparative assessment of whether the relationship between monetary policy and stock prices altered in the aftermath of the crisis. We verify the existence of different channels of monetary transmission to stock prices. Our results point to the prevalence of discount rate channel of monetary policy in affecting stock prices after the crisis of 2008. Further, our results indicate an important role of excess liquidity in pushing stock prices upward in developed economies in the post-crisis period. In developing economies, term premia channel is the dominant channel of transmission to stock prices. Also, we find evidence of monetary authorities of developed economies responding directly to stock price movements to ensure financial stability in the post-crisis period. Central banks react primarily to inflationary pressures by tightening monetary policy both before and after the crisis in developed and developing economies. JEL Codes: C32, E44, E52, F42","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"612 - 634"},"PeriodicalIF":0.0,"publicationDate":"2023-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44577493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-02DOI: 10.1177/00194662221137837
Pritha Dev, J. Unni, A. Vijayalakshmi
The COVID-19 crisis had a harsher impact on women globally, as they were disproportionately represented in sectors offering low wages, few benefits and least secure jobs. We examined the economic impact of loss of employment and incomes on workers in relatively low income households during and after the first stringent lockdown—April to June 2020—in Ahmedabad, Gujarat. We analyse employment impact using a logistic regression and impact on incomes using a Fixed Effect OLS regression. We find that the impact on women workers was greater in terms of loss of employment and income. Women had clearly not resumed work at the same rate as men after lockdown was eased. We address the specific question, ‘why were women less likely to resume work after the shock of lockdown?’ We found that care responsibilities did not explain later resumption of work, but the place of work did. In addition we address the question ‘which segments of workers suffered greater income loss?’ We analyse these questions for wage and self-employed workers and by prominent occupations in the sample. We find that while wage-employed workers resumed work later, they suffered less income loss than the self-employed. We attempt to explain this paradox. JEL Codes: J4, J46, J39, O17, R23
{"title":"Employment and Income Shock During COVID-19 Lockdown in a Metropolitan city in India","authors":"Pritha Dev, J. Unni, A. Vijayalakshmi","doi":"10.1177/00194662221137837","DOIUrl":"https://doi.org/10.1177/00194662221137837","url":null,"abstract":"The COVID-19 crisis had a harsher impact on women globally, as they were disproportionately represented in sectors offering low wages, few benefits and least secure jobs. We examined the economic impact of loss of employment and incomes on workers in relatively low income households during and after the first stringent lockdown—April to June 2020—in Ahmedabad, Gujarat. We analyse employment impact using a logistic regression and impact on incomes using a Fixed Effect OLS regression. We find that the impact on women workers was greater in terms of loss of employment and income. Women had clearly not resumed work at the same rate as men after lockdown was eased. We address the specific question, ‘why were women less likely to resume work after the shock of lockdown?’ We found that care responsibilities did not explain later resumption of work, but the place of work did. In addition we address the question ‘which segments of workers suffered greater income loss?’ We analyse these questions for wage and self-employed workers and by prominent occupations in the sample. We find that while wage-employed workers resumed work later, they suffered less income loss than the self-employed. We attempt to explain this paradox. JEL Codes: J4, J46, J39, O17, R23","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"321 - 346"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47771427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1177/00194662221145288
Martin Khor Kok Peng, J. K. S.
Martin Khor’s 1983 book on Malaysian economic dependence provided the first comprehensive estimates of the ‘colonial surplus’ from British Malaya. Khor described how Great Britain secured this from the colonial Malayan economy and estimated various types of surplus extracted via different means. Unsurprisingly, super-profits for privileged foreign capital owners are well known. The terms of trade have been important determinants of the colonial trade surplus. Financial surpluses are distinguished by those secured through the colonial currency board system, foreign commercial banks and colonial public finances, involving fiscal policy. The wealthy Malayan colony transferred funds to London at very low interest rates, but borrowed from British banks at exorbitant rates, besides paying high transactions charges. Colonial managerial privilege was also significant. Such surplus transfers were enabled by various colonial arrangements. Thus, colonial Malaya lost significant financial resources. Only some have changed in the post-colonial era, sometimes rather slowly. JEL Codes: B27, N15
{"title":"Surplus Transfers from British Colonial Malaya","authors":"Martin Khor Kok Peng, J. K. S.","doi":"10.1177/00194662221145288","DOIUrl":"https://doi.org/10.1177/00194662221145288","url":null,"abstract":"Martin Khor’s 1983 book on Malaysian economic dependence provided the first comprehensive estimates of the ‘colonial surplus’ from British Malaya. Khor described how Great Britain secured this from the colonial Malayan economy and estimated various types of surplus extracted via different means. Unsurprisingly, super-profits for privileged foreign capital owners are well known. The terms of trade have been important determinants of the colonial trade surplus. Financial surpluses are distinguished by those secured through the colonial currency board system, foreign commercial banks and colonial public finances, involving fiscal policy. The wealthy Malayan colony transferred funds to London at very low interest rates, but borrowed from British banks at exorbitant rates, besides paying high transactions charges. Colonial managerial privilege was also significant. Such surplus transfers were enabled by various colonial arrangements. Thus, colonial Malaya lost significant financial resources. Only some have changed in the post-colonial era, sometimes rather slowly. JEL Codes: B27, N15","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"92 - 107"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43372357","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1177/00194662221145290
K. P. Kannan
This article seeks to revisit the much-acclaimed Kerala ‘Model’ of Development since the formation of the state of Kerala. As such it subjects the development experience of Kerala for a period of six decades from 1960 to 2020. This exercise reveals that the development experience of Kerala is largely shaped by its historical past which privileged social development over purely economic development based on the growth of the goods producing sectors. State response to social and human development demands were more successful than the conventional efforts to enhance capital formation thereby transforming the material basis of the economy. The high human and social development led to large scale migration of persons, mostly men, to the Gulf countries that resulted in a kind of economic growth induced by outside money in the form of remittances. The national economic context was also one that led to a higher growth of the service sector than the material producing sectors. The limited opportunities afforded by the national state or the increased flow of outside money could not be seized effectively by the regional state to transform goods producing sectors such as agriculture and industry. This resulted in such major and spectacular failures as declining tax collection efficiency, increased net loss of state-owned public enterprises and massive waste of resources in implementing capital projects. I end the article with a call for a study of political economy of development by taking into account the specificities of the Kerala context within a larger national and international context. JEL Codes: O15, R11, F24, J6, H21, H41, H75
{"title":"Revisiting the Kerala ‘Model’ of Development: A Sixty-year Assessment of Successes and Failures","authors":"K. P. Kannan","doi":"10.1177/00194662221145290","DOIUrl":"https://doi.org/10.1177/00194662221145290","url":null,"abstract":"This article seeks to revisit the much-acclaimed Kerala ‘Model’ of Development since the formation of the state of Kerala. As such it subjects the development experience of Kerala for a period of six decades from 1960 to 2020. This exercise reveals that the development experience of Kerala is largely shaped by its historical past which privileged social development over purely economic development based on the growth of the goods producing sectors. State response to social and human development demands were more successful than the conventional efforts to enhance capital formation thereby transforming the material basis of the economy. The high human and social development led to large scale migration of persons, mostly men, to the Gulf countries that resulted in a kind of economic growth induced by outside money in the form of remittances. The national economic context was also one that led to a higher growth of the service sector than the material producing sectors. The limited opportunities afforded by the national state or the increased flow of outside money could not be seized effectively by the regional state to transform goods producing sectors such as agriculture and industry. This resulted in such major and spectacular failures as declining tax collection efficiency, increased net loss of state-owned public enterprises and massive waste of resources in implementing capital projects. I end the article with a call for a study of political economy of development by taking into account the specificities of the Kerala context within a larger national and international context. JEL Codes: O15, R11, F24, J6, H21, H41, H75","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"120 - 151"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41330110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1177/00194662221145289
I. Shivji
This essay is a succinct overview of the manner in which the first president of Tanzania attempted to address the peasant question in the country. In the immediate aftermath of independence (1961–1966), Nyerere’s government bought into the World Bank’s recommendation of village settlement schemes and range development to pull the peasantry and the pastoralist out of the backward, traditional agriculture to modern, more productive agriculture and pastoralism spearheaded by what the WB called progressive farmers. Selected ‘progressive farmers’ would be resettled in new environment administered by hired management which would teach them modern husbandry under close supervision. Village settlement scheme was established at a great cost. By 1966 it was clear that both these projects were disastrous. With the adoption of the country’s socialist blueprint, the government adopted the policy of ‘small is beautiful’, so to speak. Peasant agriculture would be improved through extension services and collective production in Ujamaa villages. Peasants were not particularly enthusiastic about Ujamaa villages. Very few were established making the party diehards, including Nyerere, exasperated. In 1973 the President ordered that living in villages was compulsory and thus began the forced villagisation from 1971–1974 by which time it was estimated that some five million people were forcefully resettled in the so-called development villages. In hindsight, it can be surmised that this move both discredited the Ujamaa project and Nyerere could have lost his peasant base. Beginning late 1970s and early 1980s the country experienced its worst economic crisis due to a variety of internal and external reasons providing imperialism and internal proto-bourgeoisies an entry point for imposing the notorious structural adjustment programmes. The essay briefly discusses the fate and the fight of the peasant under the subsequent neo-liberal phase predicated on the so-called free market, private property regime and private investment exposing the peasant to the vagaries of capitalism and its crisis. The essay ends with outlining some elements of an alternative discourse to spearhead the peasant struggle for autonomous, sovereign development. JEL Codes: P32, Q15, Q24
{"title":"The Peasant Question Under Nyerere’s Socialism","authors":"I. Shivji","doi":"10.1177/00194662221145289","DOIUrl":"https://doi.org/10.1177/00194662221145289","url":null,"abstract":"This essay is a succinct overview of the manner in which the first president of Tanzania attempted to address the peasant question in the country. In the immediate aftermath of independence (1961–1966), Nyerere’s government bought into the World Bank’s recommendation of village settlement schemes and range development to pull the peasantry and the pastoralist out of the backward, traditional agriculture to modern, more productive agriculture and pastoralism spearheaded by what the WB called progressive farmers. Selected ‘progressive farmers’ would be resettled in new environment administered by hired management which would teach them modern husbandry under close supervision. Village settlement scheme was established at a great cost. By 1966 it was clear that both these projects were disastrous. With the adoption of the country’s socialist blueprint, the government adopted the policy of ‘small is beautiful’, so to speak. Peasant agriculture would be improved through extension services and collective production in Ujamaa villages. Peasants were not particularly enthusiastic about Ujamaa villages. Very few were established making the party diehards, including Nyerere, exasperated. In 1973 the President ordered that living in villages was compulsory and thus began the forced villagisation from 1971–1974 by which time it was estimated that some five million people were forcefully resettled in the so-called development villages. In hindsight, it can be surmised that this move both discredited the Ujamaa project and Nyerere could have lost his peasant base. Beginning late 1970s and early 1980s the country experienced its worst economic crisis due to a variety of internal and external reasons providing imperialism and internal proto-bourgeoisies an entry point for imposing the notorious structural adjustment programmes. The essay briefly discusses the fate and the fight of the peasant under the subsequent neo-liberal phase predicated on the so-called free market, private property regime and private investment exposing the peasant to the vagaries of capitalism and its crisis. The essay ends with outlining some elements of an alternative discourse to spearhead the peasant struggle for autonomous, sovereign development. JEL Codes: P32, Q15, Q24","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"108 - 119"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46976728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1177/00194662221145281
C. Chandrasekhar, J. Ghosh
From his days as a doctoral student, Prabhat Patnaik was convinced that given the structure and spontaneous logic of capitalism, its expansion and relative ‘stability’ could not be understood without incorporating the role of primitive accumulation and imperialism in its development. That quest made clear that without transcending capitalism and the spontaneity that came from its essential structure, it was impossible to ensure a just, egalitarian and sustainable social order. This article draws on a small corpus of his enormous work to highlight a few insights that emerged from his wide-ranging engagement with that critique and search for an alternative. JEL Codes: B14, B24, B51, E11, N10, N20
{"title":"On Capitalism and Imperialism: A Note Based on Prabhat Patnaik’s Contributions to Economic Theory","authors":"C. Chandrasekhar, J. Ghosh","doi":"10.1177/00194662221145281","DOIUrl":"https://doi.org/10.1177/00194662221145281","url":null,"abstract":"From his days as a doctoral student, Prabhat Patnaik was convinced that given the structure and spontaneous logic of capitalism, its expansion and relative ‘stability’ could not be understood without incorporating the role of primitive accumulation and imperialism in its development. That quest made clear that without transcending capitalism and the spontaneity that came from its essential structure, it was impossible to ensure a just, egalitarian and sustainable social order. This article draws on a small corpus of his enormous work to highlight a few insights that emerged from his wide-ranging engagement with that critique and search for an alternative. JEL Codes: B14, B24, B51, E11, N10, N20","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"78 - 91"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42794321","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1177/00194662221146656
S. Thorat, Khalida Khan
Using recent data for 2017/2018 the article provides empirical evidence on the persistence of the traditional inter-caste inequality in higher educational attainment—enrolment rate being much low for low castes than the high castes. The educational attainment of middle caste is lower than high castes but better than low caste untouchables, indicating a graded inequality in education attainment, unique feature of caste system. Between the income group the low income groups suffered the most from low education attainment than the high oncome groups. The inequalities in ownership of wealth and income and caste discrimination faced by low caste untouchables are the main reasons for low education attainment among the low caste and low income groups. The shift in the government policy towards privatisation of higher education also has taken the education beyond the reach of low income household. The caste discrimination result into high drop out among the scheduled castes. In the end based on the empirical results relevant (caste) group specific and income group specific policies are proposed to promote higher education among the low castes and low income groups. JEL Codes: 123, J24, D63, J71
{"title":"Why Inter-caste Inequality in Educational Attainment Still Persists? Wealth and Caste Discrimination Matters","authors":"S. Thorat, Khalida Khan","doi":"10.1177/00194662221146656","DOIUrl":"https://doi.org/10.1177/00194662221146656","url":null,"abstract":"Using recent data for 2017/2018 the article provides empirical evidence on the persistence of the traditional inter-caste inequality in higher educational attainment—enrolment rate being much low for low castes than the high castes. The educational attainment of middle caste is lower than high castes but better than low caste untouchables, indicating a graded inequality in education attainment, unique feature of caste system. Between the income group the low income groups suffered the most from low education attainment than the high oncome groups. The inequalities in ownership of wealth and income and caste discrimination faced by low caste untouchables are the main reasons for low education attainment among the low caste and low income groups. The shift in the government policy towards privatisation of higher education also has taken the education beyond the reach of low income household. The caste discrimination result into high drop out among the scheduled castes. In the end based on the empirical results relevant (caste) group specific and income group specific policies are proposed to promote higher education among the low castes and low income groups. JEL Codes: 123, J24, D63, J71","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"256 - 275"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45198097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1177/00194662231151264
P. Jha
{"title":"Celebrating the Patnaiks: Critical Reflections on the Past and the Present","authors":"P. Jha","doi":"10.1177/00194662231151264","DOIUrl":"https://doi.org/10.1177/00194662231151264","url":null,"abstract":"","PeriodicalId":85705,"journal":{"name":"The Indian economic journal : the quarterly journal of the Indian Economic Association","volume":"71 1","pages":"7 - 11"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45577084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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