Economic Studies - Research Publications

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AN ANALYSIS OF ACTUAL AND POTENTIAL EXPORTS OF PAKISTAN WITH SAARC COUNTRIES: A PANEL DATA ANALYSIS
(Applied Economics Research Centre (AERC), 2011) Kaur, Sandeep; Nanda, Paramjit
Among the SAARC countries, India, Bangladesh and Sri Lanka had a share of 2.1 per cent, 1.4 per cent and 0.9 percent respectively, in the total exports of Pakistan. Therefore, it becomes imperative to study Pakistan's export potential in relation to SAARC countries. It was further recorded that all SAARC countries' trade including Pakistan is intense with one or two markets during the study period. Therefore, the present study aims at finding whether Pakistan has the potential to export to these nations by using gravity model. Pakistan's export potential to SAARC nations (Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka) was calculated with the help of gravity model of exports using panel data methodology (pooled model, fixed effect model and random effect model) by employing the data over time period 1981-2005. To find out the convergence and divergence of Pakistan's exports to SAARC members, speed of convergence has been used. The study revealed that, there was presence of convergence in Pakistan's exports with SAARC countries; in other words, actual Pakistan's exports to SAARC countries converged towards the estimated export potential. The study also found that among SAARC countries, Pakistan's net export potential exists for Bhutan, India, Maldives and Nepal. Bhutan, Maldives and Nepal are not only far away from Pakistan but they do not have any common borders with Pakistan. Therefore, Pakistan needs facility for transit trade with Maldives, Nepal and Bhutan, through India to realized its export potential.
An Analysis of Major Determinants of Food Inflation in India
(Indian Society for Education and Environment, 2014) Ahmed, Mumtaz; Singla, Naresh
The study has exclusively analyzed the major determinants of food inflation in India by using the monthly data from January 2006 to December 2013. Using Johansen’s cointegration technique, it was shown that in long run, all major determinants of food inflation such as money supply, interest rate, exchange rate, crude oil and rainfall except world food prices affect food inflation significantly. The Error Correction Model was also used to comprehend the short run behavior of food inflation and its determinants. The error correction term turned out to be significant statistically which further confirmed the long run causality as well as the speed of convergence towards long run equilibrium. In short-run, only world food and crude oil prices affect the food inflation.
Assessing Financial Integration of BRICS Equity Markets an Empirical Analysis, Emerging Economics Studies
(Sage Publication, 2017) Parakash, Vineesh; Nauriyal, D.; Kaur, Sandeep
This article examines the degree of financial integration among the equity markets of Brazil, Russia, India, China, and South Africa (BRICS) by using monthly data collected for the period 2005–2014. The study employs Johansen cointegration test, vector error correction model (VECM), and Granger causality test which confirm the existence of relationship in the short and long run among the equity markets of BRICS. Further results exhibit that there exists cointegration or a long-run relationship among the equity markets, but weak cointegration, though the results of Granger causality test do not display existence of any causality among market pairs such as China–Brazil, Russia–Brazil, South Africa–Brazil, Russia–China, and South Africa–India. The results indicate that even though the financial integration among the equity markets of BRICS is on ascendance, it is yet incomplete. This work suggests harmonization of laws, regulations, and operations based on international principles and appropriate regulatory supervision among BRICS nations in order to minimize the risk of financial integration, besides further relaxing restrictions on capital account for expedited financial integration.
Barriers and potential solutions for MSMEs in developing economies: Evidence from India
(LLC CPC Business Perspectives, 2021-12-02T00:00:00) Prakash, Bishwajeet; Kumar, Indrajit; Verma, Jainendra Kumar
Micro, small and medium enterprises (MSMEs) have emerged as an accelerator of economic growth with a sizeable contribution in job creation, innovation development, and reduction of regional disparities in most world economies. This paper investigates the influence of external and internal factors affecting the growth of MSMEs in poor-performing Bihar state, India. The objective of the study is to identify the major deep-rooted causes for the inability of MSMEs to compete in developing states and identify potential solutions. The study is based on an empirical database; it tested various dimensions of MSMEs barriers in their potential growth. The target group included MSMEs of Bihar state, India, using a sample of 450 entrepreneurs. The paper adopted a multistage stage sampling and multivariate analysis technique. The results showed that there are twelve major potential barriers, both endogenous and exogenous, faced by MSMEs, such as availability of raw materials, financial issues, labor force challenges, technology inefficiency, power/electricity scarcity, poor marketing, competition, knowledge-related challenges, government and administration problems, infrastructure inefficiency, etc. The findings show that these barriers affect the promotion and growth of MSMEs in developing regions. In future, it is suggested to focus on the implementation of good governance that helps to remove effectively the major barriers of MSMEs in underdeveloped states, such as Bihar, India. � Bishwajeet Prakash, Indrajit Kumar, Jainendra Kumar Verma, 2021
Barriers to Indo-Pak Trade: A Case Study of Land Routes
(SAGE Publications Ltd, 2023-07-02T00:00:00) Zahid-ul-Islam-Dar; Kaur, Sandeep; Chattu, Vijay Kumar
Concerning land routes, the study aims to document some crucial barriers, which are relatively easy to address but potent enough to expand trade between India and Pakistan. Using field research, this article examines the factors that impede trade between India and Pakistan through land-border crossings�Attari�Wagah border in Punjab and, Chakkan da Bagh, Poonch, and Salamabad Uri, Baramulla, the two land-border crossings in Jammu and Kashmir. Semi-structured questionnaires are administered to traders and unstructured interviews are held with other stakeholders. The findings such as security issues, inadequate banking facilities, inadequate physical infrastructure, communication lacunae, excessive paperwork, and lack of arrangements for traders� meets are documented as some of the prominent impeding factors in overland trade between the two nations. The prominent barriers perceived by the traders concerning Attari and Cross-the Line of Control (LoC) trade are excessive documentation, complex procedures, and nonavailability of banking facilities. � 2023 Association of Asia Scholars.
Brexit and India: Analyzing the Implications
(New Delhi Publishers, 2018) Kaur, Sandeep
Since both EU and UK are of paramount importance to Indian economy, Brexit has a significant impact on Indian Economy. In view of this, the present book aims at disclosing the possible impact of Brexit on the Indian economy in particular. The book is divided into three parts: India-UK Bilateral Trade, India-UK Trade in Services and Political and Economic relations between India and UK. Further, the book disseminates knowledge and information on the various themes particularly India-UK bilateral trade (merchandise and services), FDI etc.
The Burden of Non-Communicable Diseases (NCDs) among Prisoners in India: A Systematic Review and Meta-Analysis
(MDPI, 2022-10-18T00:00:00) Manna, Subhanwita; Tripathy, Snehasish; Sah, Rahul Kumar; Padhi, Bijaya Kumar; Kaur, Sandeep; Nowrouzi-Kia, Behdin; Chattu, Vijay Kumar
Background: The increasing prevalence and subsequent mortality due to non-communicable diseases (NCDs) among Indian prisoners are often ignored by policymakers. This systematic review and meta-analysis aim to analyze the rising burden of Noncommunicable Diseases in Indian prisons and estimate the pooled prevalence of depression among Indian prisoners. Methods: A total 9 studies were chosen in accordance with PRISMA guidelines that investigated the burden of NCDs in Indian prisons and were published between January 2010 and August 2022. Statistical analysis was performed in STATA Version 16 software, and the funnel plot was used to identify publication bias. Results: A total of 167 articles were identified, and 9 were included in this analysis. The pooled prevalence of depression among prisoners was 48.78% (95% CI, 27.24�70.55%). According to the review, prisoners showed a significant prevalence of moderate to severe depression, dental caries, poor periodontal condition, and suicide ideation. This study is the first to analyze NCDs prevalence among Indian prisoners. Poor mental and dental health standards and the virtual absence of healthcare facilities necessitate governmental actions to boost inmates� health. It is essential to develop preventative interventions for this extremely isolated and vulnerable group in addition to diagnosing and treating noncommunicable diseases. Conclusions: Our study findings will enable decision-makers to structure and develop appropriate preventative and curative programs for inmates� general wellbeing. � 2022 by the authors.
Can Contarct Farming Double Farmer's Income?
(EPW, 2018) Kaur, P.; Singla, Naresh
Following its mandate to double farmers’ income by 2022, the central government has enacted a separate model contract farming act in 2018 based on the perception that contract farming is one of the several pathways for doubling farm income. However, findings from primary surveys in Moga, Tarn Taran and Amritsar districts in Punjab, reveal that despite bringing in new crops, technologies and markets for farmers, contract farming excludes the smallholder farmers. Unless such arrangements can protect the interests of the smallholders who constitute almost four-fifth of India’s farming population, doubling farm income will remain elusive.
CHANGING PATTERN OF INDIA’S HIGH TECHNOLOGY EXPORTS: A STUDYOF COMPETITIVENESS OF PHARMACEUTICAL PRODUCTS
(Shri Ram College of Commerce, 2016) Manisha; Kaur, Sandeep
Export earnings of India have increased substantially over the years. For active participation in the global trading system export diversification is essential. Export diversification plays a main part in the economic growth of the developing countries. These countries try to improve place at the global level by increase its exports by exporting high technology products. India is no exception to this. The present study makes trying to look at the strength of pharmaceutical exports in India’s high technology exports with the US and Russian Federation with the help of different indices like Revealed Comparative Advantage (RCA), Revealed Symmetric Comparative Advantage (RSCA) and Intra-Industry Trade (IIT) during 1991-2012. The empirical result of the study revealed that India has the maximum comparative advantage in pharmaceutical products with the US and Russian Federation. Further, the result of the study also highlights the positive impact of TRIPS on India’s pharmaceutical exports. The study also finds that domestic companies are more R and D oriented than foreign companies. For India to become a top player in the international business of pharmaceutical sector, the government of India needs to sustain foreign investments in pharmaceuticals sector so that it would help to meet the practical knowledge and to generate employment.
Changing structure of India�s exports with Africa: Where do the technology-intensive exports stand?
(Routledge, 2023-07-25T00:00:00) Fayaz, Mohd; Kaur, Sandeep
The present study is an endeavour to document the pattern of comparative advantage and structural changes of Indian exports with Africa with the help of revealed comparative advantage index and the constant market share model for the period 1980�2021. The results indicate that India possesses a comparative advantage in a large number of export products to markets in Africa. However, most of these exports belong to the category of low-tech and resource-based goods. Considering its abundant labour, it is to be expected for India to have a comparative advantage in these low-skilled and labour-intensive traditional exports. The commodities with maximum advantage in the African market are medicinal and pharmaceutical products followed by sugar, sugar preparations, and honey. In the category of technology-intensive products, India has strengthened its market power only in the export of organic chemicals and dyes, and colouring materials. � 2023 African Journal of Science, Technology, Innovation and Development.
Cointegration, Causality and Impulse Response Analysis in Major Apple Markets of India
(Agricultural Economics Reseach Assosiation, 2014) Beag, Fayaz Ahmad; Singla, Naresh
The study has investigated market integration across five major wholesale apple markets, viz. Ahmedabad, Bengaluru, Delhi, Hyderabad and Kolkata, of the country by adopting Johansen’s multivariate cointegration approach. The study has confirmed the presence of cointegration, implying the long-run price association among the markets. To get the additional evidence as to whether and in which direction price transmission is occurring between the market pairs, Granger causality test has been used, which has confirmed Delhi to be the price-determining market. Hyderabad has been found comparatively more efficient as it has depicted most bidirectional causal relations with other markets. The market pairs: Ahmedabad — Kolkata and Bengaluru — Kolkata have not shown any causal relation between them. The impulse response functions were also conducted which have confirmed the results of cointegration and Granger causality, but the magnitude of price transmission has been found relatively low in some market pairs that are spatially integrated. The major implication of the study is for the designing of a network of agricultural wholesale markets across the country at almost equal distance from each other to enhance the market integration and better price transmission among them.
Comparative Performance of Cooperatives and Producer Companies in Member Producer�s Income Enhancement: A Case Study of the Milk Sector in Indian Punjab
(SAGE Publications Ltd, 2022-06-21T00:00:00) Kaur, Manpreet; Singla, Naresh
Small producers� participation in milk collectives such as dairy cooperatives and producer companies is seen as one of the several ways to institutionalize the dairy value chains and leverage their production and marketing strengths. In this context, the study has explored procurement practices of a dairy cooperative vis-�-vis producer company that have recently ventured into direct procurement, processing and retailing of the milk in Indian Punjab and understood their economic impact on the milk producers in Indian Punjab. The findings of the study suggest that both the milk collectives offer higher prices to the producers, resulting in higher profitability than their counterpart non-member milk producers. The findings of the study suggest that the milk collectives need to take additional responsibilities in terms of advancing credit, introducing new production technologies to increase milk productivity and encouraging participation of women milk producers to make such linkages inclusive, effective and sustainable. � 2022 Association of Asia Scholars.
COVID-19 pandemic and stock market reaction: empirical insights from 15 Asian countries
(Routledge, 2021-05-31T00:00:00) Mishra, Pabitra Kumar; Mishra, Santosh Kumar
Since 2020, the world has been passing through a difficult time due to the outbreak of COVID-19 Pandemic. This novel public health emergency has created both demand- and supply-side shocks affecting both real and financial sectors of economies globally. One of the noteworthy immediate consequences of it was sudden nosedive of stock markets across countries in the globe. In this pre-text, this study examined the stock market behaviour in 15 selected Asian markets amid the pandemic. The results infer about the surge in market return volatilities amid the rapid spread of the coronavirus which was primarily triggered through the impaired investors� sentiments due to the announcement effects. During this period, the stock market performances in selected Asian countries have been observed to be influenced by the reporting of the number of COVID-19 confirmed cases and death cases, stock index returns, market volatility, oil prices, inflation rate, and interest rates. � 2021 Denfar Transnational Development INC.
COVID-19, livestock supply chains and livelihoods in India: a review of�impacts and implications
(Emerald Publishing, 2023-03-27T00:00:00) Verma, Gautami; Singla, Naresh; Singh, Sukhpal
Purpose: The global outbreak of COVID-19 and its subsequent varied impacts on different economic activities necessitate to examine its disruptions and impacts on livestock sector in India due to its recently surging potential as an unrivaled alternative to boost farmer�s income. Design/methodology/approach: The studies for review were identified through search in different databases using relevant keywords. Only full text papers written in English language were reviewed. The review was organized and streamlined using Covidence software. Findings: Analysis of the literature reveals adverse effects of COVID-19 on functioning of input and output stages of livestock supply chains. This has resulted in upstream and downstream economic losses that affect livelihoods of the producers. Research limitations/implications: Scale of unprecedented crisis due to COVID-19 pandemic requires creative policy decisions to make livestock production systems robust, resilient and sustainable. Organized production systems are required to integrate with livestock-tech startups to modernize their supply chains, whereas local supply chains are required to reorient with government�s intervention in terms of developing on-farm production and postproduction processing facilities. Originality/value: Although there exist some evidence on COVID-19-related impacts on livestock sector of India, but an integrated review of evidence on COVID-19 related disruptions at all the stages (from input supply to marketing) of livestock supply chains was missing. � 2023, Emerald Publishing Limited.
Crop insurance policies in india: An empirical analysis of pradhan mantri fasal bima yojana
(MDPI, 2021-10-27T00:00:00) Kaur, Sandeep; Raj, Hem; Singh, Harpreet; Chattu, Vijay Kumar
India is home to over one-third of all undernourished children worldwide, and it ranks 94th out of 107 nations in the Global Hunger Index 2020. Instability in production and market risks make agriculture a risky business and directly affect farmers� income levels, thereby impacting food security. This review aimed to understand various features of different crop insurance policies in India and to analyze the Pradhan Mantri Fasal Bima Yojana�s (PMFBY) impacts on Indian farmers. A literature search was performed in all popular databases, including Scopus, Web of Science, ProQuest, AGRICOLA, AGRIS, and Google search engines, as well as annual Indian government reports. The keywords �Crop Insurance� OR �Pradhan Mantri Fasal Bima Yojana� OR �National Agriculture Schemes� AND �India� were searched to obtain relevant articles. By using cumulative data, we conducted a multiple regression analysis and a model was developed to estimate the effects of insurance characteristics on farmer coverage for the years 2017�2018 and 2018�2019. Agricultural insurance coverage under PMFBY remained low in terms of the number of farmers insured, the area insured, claims paid, and total farmers benefited. Compared to other schemes, the beneficiary and claim premium ratios were substantially lower under the PMFBY. The multiple regression analysis showed that farmers� premiums have a significant effect on the number of farmers insured over time, although the subsidies do not have a significant influence in farmers� insurance participation. Delays in claim settlement, the complexity of the system, and a lack of awareness among farmers are the major weaknesses of the PMFBY. Greater use of digital media could help spread awareness of these schemes among farmers. � 2021 by the authors. Licensee MDPI, Basel, Switzerland.
CUSTOMER RELATIONSHIP MANAGEMENT (CRM) IN THE PUBLIC AND PRIVATE SECTOR BANKS IN BIHAR: A COMPARATIVE STUDY
(Conscientia Beam, 2021-12-27T00:00:00) Kumar, Indrajit; Shome, Mihir Kumar; Verma, Jainendra Kumar; Kumar, Arun
Customer relationship management (CRM) plays a crucial role in any organization because success or failure depends on a company�s relationship with its customers. The objective of this study is to see how CRM can play an important role in the public and private sector banks in Bihar, India. The sample for the study consists of 250 bank managers from both public and private sector banks in Bihar. A CRM questionnaire developed by the researchers was used to measure CRM in the banking sector. Data were analyzed using SPSS software. Inferential statistics including t-test and analysis of variance (ANOVA) were used to analyze the data. The t-test results show that both the public and private sector banks differ significantly in the variables of customer contact by phone/e-mail, customer care, and innovation and quality. The ANOVA results showed that the four groups (public sector males, public sector females, private sector males, and private sector females) differed significantly in the eight variables (commitment; citizenship behavior; customer contact by phone/e-mail; planning; improved retention & better targeting of new customers; top management support; innovation and quality; and technological readiness. � 2021 Conscientia Beam. All Rights Reserved.
DETERMINANTS OF ECONOMIC GROWTH: A STUDY OF SELECTED ASIAN COUNTRIES
(Central University of Punjab, 2018) KAUR, HARPREET; Mishra, Pabitra Kumar
Asia is a developing and fastest growing region of the world. In 1960s, Asia made a sound recovery known as ‘Asian Miracle’. Its sound recovery during global financial crisis has changed its traditional picture among the advanced regions like North America and Europe. It is highly unequal region in the world in terms of economic growth substantiated by the fact that developing Asia covers only its three sub-regions namely East Asia, South-East Asia, and South Asia out of five total regions. Therefore, the rising influence of Asia in global economy and among advanced nations along with rising inequality raises the question that what are the important factors driving rapid economic growth of Asian economies and if these factors lead to their growth differences? Is there any possibility of equitable growth of Asian economies in the long-run? If yes then what could be the contributing factors?. In regard with this research problem there are few studies available related to determinants of economic growth of Asia. In line with these research questions and research gap, this study works with the objectives to study the trend and pattern of economic growth of Asian economies; to investigate the level of income disparity across the Asian economies; to look for convergence possibility across Asian economies; to explore the drivers of economic growth of Asian economies; to suggest for appropriate policy options rapid and equitable growth of Asian economies. This study is an empirical in nature covering the time period from 1975 to 2015 and follows a macroeconomic approach. The twelve have been selected purposively out of total 50 Asian economies on the basis of income classification by World Bank, 2015. The methodology used in this study is specified as per objectives. For the first objective, time series plots has been prepared for variables of economic growth and trend pattern are observed for selected countries. For second objective, income disparity has been observed through maximum to minimum ratio, measure of dispersion, Gini index, and Theil index. For third objective, convergence possibililty across Asian economies is predicted through βconvergence and σ-convergence. For fourth objective, the inverted-U shaped Kuznets curve is estimated to investigate the relationship between growth of per capita GDP and income inequality of Asian economies. For objective fifth, the dynamic panel unit root test is conducted to see the stationary properties of the variables under consideration. Then the ARDL model is adopted to examine the long-run equilibrium relationship between the variables possibly explaining the economic growth of Asian economies. The findings of this study imply that all Asian economies do not reveal an increasing trend of growth over the period. There is a wide disparity among the economic performance of countries from different income groups in respect of selected economic indicators. Income disparities between Asian countries are narrowing down over the period. There is an evidence of catch-up effect and convergence possibility across Asian economies. Economic growth influences income inequality only in case of Japan, South Korea, China, Iran, Thailand, Turkey, India, and Nepal while growth does not influence inequality in case of Malaysia, Indonesia, Pakistan, and Philippines. The gross capital formation, share of working age population, trade openness, agriculture productivity, energy use, and gross primary school enrolment rate are positively related to economic growth while inflation, domestic credit to private sector, childhood mortality and government consumption expenditure are negatively related to economic growth. Therefore, this study suggests that policy makers should increase the gross capital formation, agricultural productivity, energy use, gross primary school enrolment rate, to efficiently utilize the rising share of working age population, to increase trade openness by encouraging exports and imports. On the other hand, inflation, government consumption expenditure, domestic credit to private sector should be controlled as these are significantly negatively affects economic growth.
Determinants of Economic Growth: Empirical Evidence from India
(2017) Kaur, H; Mishra, P.K.
The Determinants of Economic Growth: Experience of China, Japan, South Korea and India
(SCMS Group of Educational Institutions, 2022-07-30T00:00:00) Bhat, Gulshan Farooq; Kaur, Sandeep
The present paper is a sincere effort to analyse the role of the various determinants of economic growth in China, Japan, South Korea, and India for the period of 1980-2016. Panel Cointegration, Panel Vector Error Correction Model, and Granger Causality have been incorporated to determine the causal relationship among the selected determinants of economic growth. There is evidence of significant long-run causality of selected variables, i.e. services value-added, gross fixed capital formation, exports, and school enrollment ratio, but industrial value-added has not shown a significant impact on GDP per capita and also has not shown the long-run causality with selected variables. Also, the school enrolment ratio, GDP per capita, and service value-added have an important role in causeand- effect relationships among selected variables. The study suggests that there is a need to raise productivity and rapid industrialisation in these economies. In addition, improvement in technology, reduction in corruption, general welfare and happiness of people, and Research and Development (R&D) are required to recognise the maximum benefits of growth and development. � 2022 SCMS Group of Educational Institutions. All rights reserved.
Determinants of Export Services of USA with its Asian Partners: A Panel Data Analysis
(Ala-Too International University, Bishkek, 2011) Kaur, Sandeep
Trade in services has accounted for 20 per cent of global trade. Despite the increasing importance of services trade in global economy, there has been limited research on service trade which uses determinants driving such trade. The present paper has examined the export potential in service sector of USA with its Asian trade partners (Japan, China, India, Singapore, South Korea and Hong Kong) by taking into account geographic, economic and other features. The approach is based on gravity model, widely used to analyze trade in goods and has more recently been applied to service sector. Being a nature of study is of panel data i.e. for 9 years (2000-2008) and six cross sections, the study used panel data methodology. The study revealed that USA has export potential in services for India and Japan. Regarding the convergent and divergent economies, USA had convergence in exports with three Asian countries (Hong Kong, India and Korea) and divergence with three Asian countries (Japan, China and Singapore). There is a large scope for export expansion for Hong Kong, India and Korea.