Economic Studies - Research Publications

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An empirical analysis of growth determinants in India and South Korea: Possible lessons for India
(Asociacion Euro-Americana de Estudios del Desarrollo, 2017) Bhat, Gulshan Farooq; Bhatia, Sandeep Kaur; Bhat, G.F.; Bhatia, S.K.
Since the second half of the twentieth century, most imperative experience in the rise of the global economy had been the upswing of East Asian industrializing countries including South Korea. The spectacular sociopolitical and economic revolution of South Korea in the last few decades made it a development model worth replicable. The study advances the theoretical and empirical research on the role and performances of major sectors and indicators in India and South Korea and to find out the possible lessons for India. The comparative analysis identified that India lags behind as a wide gap emerges between systematic quality, management and development expenditures of various important sectors including Education, R&D and some other correlated sectors including corruption. Korea made an impressive and enormous strides in the fields, especially Capital formation, Manufacturing, Trade mainly exports and Innovation (R&D), controlling red tape, which in turn helped them a great deal in the overall development. The empirical study makes it that Education, Trade, Manufacturing, R&D that augmented the development process in Korea and made it a replicable model, may also prove the same for India if followed sensibly.
Export and import potentials of Pakistan to other SAARC countries in gravity panel data models
(2011) Bhatia, S.K.; Nanda, P.
Pakistan's export and import potential to other SAARC nations has been calculated with the help of gravity model using panel data methodology (pooled model, fixed effect model and random effect model) by taking the time period 1981-2005. The study revealed that there was presence of convergence in Pakistan's exports as well as imports with SAARC countries and in the other words, actual Pakistan's exports and imports to SAARC countries converged towards the estimated export and import potential. Pakistan had convergence in exports with four SAARC members (Bhutan, India, Maldives and Nepal) and divergence with two SAARC members (Bangladesh and Sri Lanka). Regarding imports, Pakistan had convergence in imports with two SAARC members (Bangladesh and India) and divergence with two SAARC members (Nepal and Sri Lanka). The study suggested that greater stability in the international exchange system would also help to increase prospects for trade and investments of SAARC countries.
Whether fdi or exports enhance innovation: Evidence from indian manufacturing firms, 2001-2012
(Universidade de Santiago de Compostela, 2017) Singh, K.; Bhatia, S.K.
The economic reforms of 1991 resulted in an increased inflow of FDI into the Indian economy. However, for the invention of new techniques and skills, there is a great need to invest on RandD, requires a huge amount of capital, which can be available through FDI inflows. Technology has been imported in heavy amount after the implementation of liberalization policies. Therefore, the present study intends to know whether FDI contributes to the Indian manufacturing sector through RandD or not. The average growth of the manufacturing sector in India (7.93 per cent) has been found considerably higher during the second decade of reforms (2001-2012) as compared to first decade reforms (1991-2000). In the context of this, the present study has tried to examine the trends and patterns of FDI and RandD in manufacturing firms of India during the second decade of reforms (2001-12) and also, to analyze the impact of FDI and exports on RandD in manufacturing firms of India through fixed effect model. The results suggest that RandD has been significantly impacted by the import of capital goods, foreign equity, disembodied technology, and export intensity during the second decade of liberalization period. The present study suggests that greater approvals for foreign capital inflows are required in India, for enhancing the RandD in the manufacturing sector. There must be an appropriate coordination between public and private sector, which can improve the RandD expenditure of manufacturing firms of India. ? 2017, Universidade de Santiago de Compostela. All rights reserved.