Economic Studies - Research Publications

Permanent URI for this collectionhttps://kr.cup.edu.in/handle/32116/141

Browse

Search Results

Now showing 1 - 10 of 30

International Migration, Inter-generational Linkages and Households’ Spending Behaviour in Kerala and Punjab
(Central University of Punjab, 2020) A.P. Noushad; Parida, Jajati Keshari
Human beings always strive for a better life. Hence, people do not hesitate to leave their homeland to get better standard of living for themselves and their family. The process of emigration can contribute significantly to the socio-economic development in both the countries of origin and destination. At present, India occupies the top position in both sending emigrants to abroad and remittance receipts in the world. It received over $79 billion remittances from about 17 million emigrants staying across the countries of the World in 2018. This remittance continues to be the financial support for millions of families in India. Particularly, the state of Kerala and Punjab tops the remittance receipts. These remittances help to increased investment in both human and physical capital enormously in these states. Hence, this has helped the native inhabitants to achieve a better standard of living and in terms of development indicators, these two states are far ahead of the other Indian states. Using a household level primary survey, this study mainly focuses on how migration pattern is changing over the generations in these two states. Moreover, this study finds the effect of remittances on spending and labor supply behaviour of the household members in Kerala and Punjab. We have observed three facts about the changing migration pattern over the generations: (1) low skilled to highly skilled emigration; (2) Internal to international migration and, comparatively less developed v Asian regions to developed regions of the Global North, West Asian and Oceanian regions; (3) employment driven migration to the ‘student’ and ‘family’ type of migration. This study also observed that the households reporting remittance receipts, on the average, spend more on all types of household expenditure categories. It shows the economic betterment of the recipient households over their non-recipient counterparts. Moreover, we noticed that the labor force participation among the remittance recipients is lower as compared to the non-recipients. It is because of the reluctance to do manual type of jobs, particularly, the youth in the remittance recipient households. On the basis of these findings our study argued that a structured emigration policy is required to boost the growth of both skilled and low skilled emigration in India. This study also suggests that NRI investments can be promoted by creating a favorable investment environment in the domestic economy, as remittances play an important role in human capital formation.
DYNAMICS OF STRUCTURAL CHANGES IN INDIA’S EXPORTS, 1980-2016
(Central University of Punjab, 2018) Fayaz, Mohd.; Bhatia, Sandeep Kaur
The international trade flows have been dramatically expanding due to the growing integration of the world economies and have experienced spectacular changes over the past few decades. For that reason, the present study attempts to examine the dynamics of structural changes in India’s exports over the 1980-2016 period. Through the analysis of trends and patterns of India’s merchandise exports, the study finds that there is a declining share of primary products while the share of manufactured goods and petroleum products have increased. Further, the analysis of the direction of India’s exports reveals diversification especially towards South Asia, Southeast Asia, and Africa during the study period. The current study also extends analysis of Indian exports in terms of technological intensity over the 1980-2016 period. The results show that the exports of all said emerging economies have a large technological base owing to their significant investments in R&D and open-door policies. While the figures of Indian exports also show a steady though slow technological upgradation from low-tech to medium and high-tech exports but when compared to the standards of these emerging economies, are low. Further the study employs Revealed Comparative Advantage (RCA) and Constant Market Share (CMS) analysis for the ten exports destinations namely OECD, EU, USA, OPEC, UAE, Africa, Asia, East Asia, South and Southeast Asia, and West and Central Asia. Results of RCA shows that India has a comparative advantage in the exports of primary products in the markets of OECD, EU, USA, iv and OPEC. While in the markets of UAE, Africa, South & Southeast Asia, and West and Central Asia, India has a comparative advantage in the exports of both primary and manufactured products. The analysis further observes that the maximum number of commodities with a comparative advantage among all the export destinations are concentrated in UAE, Africa and Asia (except East Asia). While the results of the Market Effect (ME) and Market Adaptation Effect (MAE) shows that Indian exports to OECD, EU, OPEC, Africa, and West & Central Asia are comprised of the products for which the demand is relatively slow. However, in the markets of UAE, USA, East Asia and South & Southeast Asia, India is specializing in the products for which the demand is strong and can adapt their export structure to changes in the market composition of their imports. Also the analysis of the determinants of high technology intensive and low technology-intensive exports have been carried out by through Johansen Cointegration test and Vector Error Correction Model (VECM). For high technology exports, the present study finds a direct and significant long-run relationship with the world demand, FDI and R&D. For low technology-intensive exports, the study finds a positive and significant relationship of FDI and industrial value-added while world demand is found to be negatively related, however, is not significant. Thus in the view of above findings, the present study suggests that there is a need to devise policies that would make a favourable environment for attracting more FDI to build absorptive capability so that the movement towards the production of high technology intensive products and thereby exports could be facilitated. Further, the results show that India has reasonably diversified its exports in South and Southeast Asia and West and Central Asia with gaining importance in the exports of non-traditional and technological based items. However, there is an ample scope to diversify its exports in the market of East Asia into the sectors where international demand is high and swelling.
RELATIONSHIP BETWEEN ENERGY AND ECONOMIC GROWTH: EXPERIENCE FROM SELECTED ASIAN COUNTRIES
(Central University of Punjab, 2018) HABIB, MUSAVIR UL; Mishra, Pabitra Kumar
Healthy economic growth is regarded as the most basic materials of any economy to increase the economic production, reduce the poverty and in general enhance the quality of life. World economy has witnessed huge change in the growth performance of countries since the onset of industrial revolution. The industrial revolution in the developed economies of West was made possible only due to the exploitation of fossil fuels which, in turn, was made possible by capital goods innovations that enabled this source of energy to be used efficiently. Thus the combination of the modern technology and energy use is found to be the crucial for the rapid development of economies. The industrialization in the West was accompanied by an energy transition away from traditional biomass, and towards modern fuels. The modern developed economies show that the energy consumption and economic growth go hand in hand, as these economies show high energy consumption as compared to the other less developed economies and these economies consume a fairly high proportion of total energy resources of globe. In order to spur the pace of economic growth, a number of theories have been developed which enriched the growth literature in emphasizing the distinct steps required for raising economic growth. The physical and biological theories has been highly relevant with the role of energy in day to day life, be it for undertaking any physical work, or the production of food by living organisms. However, the theories in economic literature ascribe little role to energy in determining the economic growth of any country. The classical economists declared that land, labour and capital are the main factors of production and they neglected the important role played by the energy in the production process as well as economic progress. Famous growth theories in the literature such as the Harrod-Domar growth model; and the subsequent, wellknown theory commonly referred to as the Solow-Swan growth model, among others, claim that energy has nothing to do with the production function, and hence, energy has little relevance with the economic growth. Similarly, other theories proposed by Monetarists and subsequent Endogenous growth theorists also haven’t paid any ii attention to the energy as a driving factor for economic growth. In this backdrop, the current study attempts to examine the relationship between energy consumption and economic growth in multivariate framework for the panel of 13 Asian countries. Besides, the study also investigates the relationship between the energy and economic growth for the individual countries. The results from the study prove the existence of bidirectional causality or feedback hypothesis for the selected panel of countries. However, in case of individual countries, the results are diverse, i.e. Japan represent feedback hypothesis, while as growth hypothesis is proven by India, Iran, Malaysia and South Korea. Furthermore, conservation hypothesis is proven by China, Pakistan, Thailand and Vietnam. Finally, Indonesia, Myanmar, Philippines and Turkey show no causality relationship between energy and economic growth. The results from the study may prove extremely helpful in making the decision of energy consumption with regard to boosting economic growth and economic sustainability among these selected countries. The study also found that there is increase in the energy supply especially in the resource rich economies. However, the energy demand is growing very rapidly among all the selected economies. In order to analyze the inequality in the energy use or the disparities in energy use among the selected countries, the study uses the tools of Gini coefficient. The results found that there are the evidences of energy inequality among the countries. However, this inequality has shown the declining tendency over the years but the decline in inequality is relatively very low. It is also found that the high income countries are the ones with high energy consumption. The study also purports to evaluate the possibility of energy inefficiency among the selected economies. The energy efficiency of the selected economies is calculated by the use of DEA methodology. The DEA analysis shows that there is inefficiency in the energy use among the economies. It is also found that the energy efficiency is very high in the high income countries, where as it is very low in the low income countries. Thus, these results suggest that the developing economies should increase their energy efficiency for their sustainable growth.
Multi-dimensional Poverty in Rural Kashmir: Extent, Determinants and Policy Options
(Central University of Punjab, 2018) Unjum, Irfana; Mishra, Pabitra Kumar
Conventionally, poverty is measured in monetary terms, either using income or consumption expenditure. But since the seminal work of Amartya Sen, poverty has been acknowledged as a multidimensional phenomenon and has gained the attention of researchers, economists and policy makers. Multidimensional approach captures the broader picture of poverty as it involves innumerable dimensions which is impossible in the uni-dimensional approach of poverty. The broad objective of the study is to examine the nature and extent of multidimensional poverty and also find out the determinants of poverty in the rural Kashmir of Jammu and Kashmir state. The study is based on primary data collected during first quarter of 2016 from eight villages namely, Adlash Magam, Niamatpora, Zainpora, Zerakan, Faqir Gujri, Sangam, Anayatpora and Pushwari of rural Kashmir. This study is inimitable in including eight dimensions with twenty-seven indicators of human well-being. The dimensions used are Economic, Health, Education, Wealth, Work and Employment, Ownership of Productive Assets, Empowerment and Social Participation. For examining the nature and extent of multidimensional poverty in rural Kashmir, Alkire-Foster method is used. In order to find out the determinants of poverty, logistic regression model is used. The results reveal that, both uni-dimensional (income poverty) poverty and multidimensional poverty is prevailing in the rural Kashmir. As v the Alkire-Foster method shows the incidence and intensity of poverty, the incidence of poverty in the rural Kashmir is 0.856 which means about 85 per cent of the households in the rural Kashmir are multidimensionally poor. However, the intensity of poverty is 0.461 which means on an average a household is deprived in almost 46 per cent of the indicators in rural Kashmir. The results of logistic regression model reveal that the low level of education of household head is an important cause of multi-dimensional poverty in the rural Kashmir. It implies that lower the level of education of household head, higher is the probability of the household being categorized as poor. Therefore, policy focus should be on encouraging free, compulsory and quality education at the primary level, and skill-embedded vocational education at the secondary level in the rural region of Kashmir. The focus is also needed to ensure functional literacy of all members of the households so as to make them capable to support their livelihood. Specifically, for adult household members, the vocational/job-oriented training should be given through non-formal education centres to enhance their employability in the formal sector. Furthermore, the self-help groups need to be strengthened by providing them with the skill-based training through non-formal education centres to improve the earning capacity of women. All these will bring work efficiency and productivity among the rural masses which in turn will contribute to enhanced earnings and help to exit from poverty. It is again found that the underemployment of the household head in the informal sector is another important cause of multi-dimensional poverty in the rural Kashmir. So, the policy circle should focus on increasing employment opportunities in the region may be by undertaking more number of public works programmes, providing skill-based training for the creation more productive labour force capable of working in technology savvy jobs, and by creating enabling environment that encourages micro, small and medium scale enterprises. Furthermore, the emphasis should be given to encouraging the women employment may be through self-help groups in the rural Kashmir. Similarly, emphasis may be given to deepening of handicraft business in rural Kashmir. This will certainly contribute to the removal of poverty by eliminating the problems of underemployment of rural people in the informal sector. vi It is found that the type of house and the number of rooms in it, also determines the extent of multi-dimensional poverty in the rural Kashmir. It has already been established in the various context that pucca housing with more number of rooms reduces the chance of a household falling into poverty. Thus, the policy makers need to focus on improving the dwelling conditions of rural households in Kashmir may be by providing free/subsidised housing to BPL families, creating income earning opportunities for rural masses, and assisting people to build better housing with the help of appropriate housing schemes. It is found that the households not having any kind of debt burden are less likely to come into the grip of multi-dimensional poverty in the rural Kashmir. So, it is imperative on the part of the policy circle to focus on putting an adequate amount of purchasing power in the hands of rural people through appropriately designed work & employment opportunities such that households will not fall into debt trap. It is also found that the households having some sorts of exposure to poverty alleviation programmes are less likely to be in multi-dimensional poverty. Therefore, there is a need for holistic and sustainable anti-poverty programmes that aware and empowers rural people to come out of the grips of poverty. The proper implementation of the anti-poverty programmes together with quality education, training and awareness at the grass-root level, will certainly ensure the socio-economic empowerment of rural households.
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.
AN ECONOMIC ANALYSIS OF MARKET INTEGRATION OF SELECTED AGRICULTURAL COMMODITIES IN INDIA
(Central University of Punjab, 2018) Ahmed, Mumtaz; Singla, Naresh
India-Pakistan Trade: Problems, Prospects and Challenges
(Central University of Punjab, 2018) Manisha; Bhatia, Sandeep Kaur
The economic cooperation has been challenging in the South Asian Association for Regional Cooperation (SAARC) region. Due to the political conflicts between India and Pakistan, development of the South Asia has been on hold. The present study is an attempt to see the historical and economic linkages between India and Pakistan and to overview the impact of the bilateral trade between India and Pakistan from the perspectives of both the countries. The findings of the study reveal that both the countries’ trade has been fluctuating during the study period of 1981- 2015. To investigate the competitiveness of India and Pakistan trade in the top twenty commodities, different trade indices like Revealed Comparative Advantage, Reveled Symmetric Comparative Advantage, Intra-Industry Trade, Trade Complementarity Index, Trade Potential Index, and Herfindahl-Hirschman Index has been calculated. The empirical results of the study show that in the top twenty commodities, India has the maximum competitive strength in Organic Chemicals, Inorganic chemicals, Precious metal compound, isotopes, Ships, boats and other floating structures, Impregnated, coated or Laminated Textile fabric and Edible vegetables and certain roots and tubers while Pakistan has maximum strength in Ores slag and ash, Articles of apparel, accessories, knit or crochet, Organic chemical, Products of animal origin, nes, Mineral fuels, oils, distillation products, etc., Ships, boats and other floating structures and Articles of apparel, accessories, knit or crochet. The results of the Intra-Industry trade between India and Pakistan reveal that Wool, animal hair, horsehair yarn and fabric thereof, Vegetables textile fibers nes; paper yarn, woven fabric, Residues wastes of food industry shift from inter industry trade to Intra Industry trade in case of top export product of India. While in case of top exports products of Pakistan, Intra-Industry trade shows that Products of animal origin, nes, Articles of apparel, accessories, knit or crochet, Nuclear reactors, boilers, machinery, etc, Inorganic chemicals, precious metal compound, isotopes, Residues, wastes of food industry, animal fodder shift from inter industry trade to Intra Industry trade. The results of the study found that India has maximum export potential in Pearls, precious stones, metals, coins, etc. while Pakistan has in Inorganic chemicals, Precious metal compound isotopes. Some of the commodities of Pakistan has found reduced tariffs, increased comparative advantage led to increase the Intra-Industry trade also i.e. Ores, slag and ash, Mineral fuels, mineral oils and products of their, Special woven fabrics, tufted textile fabric lace, and Headgear and parts thereof has, indicating that these items gaining their trade competitiveness. While in case of India, commodities, namely Other vegetables, textile fibers; paper yarn and woven and Wool, fine or coarse animal hair yarn. A field survey was carried out in the month of August to November, 2016 at Wagah-Border (Amritsar). The investigation establishes that the security clashes, roaming facilities, infrastructure constraints, corruption and harassment, informal trade and Hawala payment are the primary Non-Tariff Barries. Betel Leaves, Dry Fruits, Wheat, Synthetic Fibers and Liquor have been informally traded from India via third route (Dubai). There should be some effective policy made by the government of both the countries to resolve the Kashmir Issue, Sir Creek, Water Dispute and Siachen Glaciers. There should be proper warehouse facilities, timely checking, more cargo facilities and open the other two gates at the Attari-Wagah border. The Indian government should introduce modern techniques to fast-track the import procedures, especially at the time of excessive security checks. Ministry of Communication should make some policy and agreement to reduce the telecommunication gap between the countries. Corruption and harassment at the land customs station should be checked at a high level. Security clashes at the border and political statement by India should be avoided for the smooth bilateral trade. For deeper and stronger trade linkages, it is important that the bilateral visa regime should be liberalized without compromising on security, and there is free flow of investments between the two countries. A joint working group includes officials from the Ministry of Finance, Ministry of Commerce, and the Central Bank should discuss policy measures that may incentivize the formalization of the current informal inflows from India to Pakistan in such a way that does not restrict the economic growth of formal trade between the countries. The Ministry of Finance of India should report, annual revenue losses to the informal trade.
Nexus between anthropogenic activities and GHGs emission in India: An empirical analysis
(Primrose Hall Publishing Group, 2020) Mishra, S.K; Sarangi, M.K; Mishra, P.K.
The worst consequences of environmental degradation are realised all across the globe and environmental sustainability is, thus, the call of the day. Consumption and production activities to fulfil human wants pollute all the means of sustainability through exhaustion and overexploitation of scarce natural resources. This empirical study tries to establish the nexus between anthropogenic activities and GHGs emissions, using ARDL based bound test for India over a period of 44 years spanning 1971 to 2014. The study reveals that fertility rate, population density, Economic Growth, and consumption of primary energy have a positive and statistically significant impact on the emission of GHGs both in the short and longrun. � 2020 Primrose Hall Publishing Group.
Employability and Earning Differentials Among Technically and Vocationally Trained Youth in India
(Springer, 2020) Singh, S; Parida, J.K; Awasthi, I.C.
Based on both NSS (1993�94, 1999�2000, 2004�05, and 2011�12 rounds) and PLFS (2017�18) data, this paper examines the employability and earning/wage differentials among vocationally and technically trained youth and explored its determinants in India. It is found that although the number of vocationally and technically trained youth increased during the last decade, their work force participation had declined substantially. We have also noted an upsurge in the open unemployment among these trained youth. The job market distress is being reflected by the large share of employment of these trained youth in agriculture and allied sectors or in the low paid and informal service sectors, and lack of employment opportunities in industries. Moreover, the prevalence of both stick floor (in case of female) and glass ceiling (in case of Backward Castes) effects in the vocational and technical labour market is the main reason for the existing wage differential by gender and caste groups in India. Based on these findings, it is suggested that reducing the labour market demand-supply gap through required job opportunities in industry is necessary. This would not only improve the employability of vocationally and technically trained youth, but also help reducing their existing wage differentials. � 2020, Indian Society of Labour Economics.
Land acquisition in Punjab: Jeopardising livelihoods through inefficient implementation
(Economic and Political Weekly, 2020) Kaur, S; Singh, G; Kaur, J; Singh, H.
Analysing a case of development-induced displacement through a survey of land dispossession in Punjab reveals how displacement for development projects adversely affects farmers economically, socially and culturally. Fertile land acquired for a thermal power plant remains unused, depriving villagers of their livelihoods as well as the benefits that could have accrued had the project materialised. Large-scale land acquisition for the establishment of thermal power plants causes irreversible changes in the lives of local communities that are deprived of their source of livelihood by land acquisition and also gives rise to other social, economic, political and ecological changes. To avert the crisis resulting from the acquisition of agricultural land for developmental purposes, "long-term livelihood opportunities" for dispossessed farmers should be rebuilt, as compensation acts as wealth, and not income, for agrarian societies. - 2020 Economic and Political Weekly. All rights reserved.

Economic Studies - Research Publications

Browse

Filters

Settings

Sort By

Results per page

Search Results