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Kumarjit Mandal

Bio: Kumarjit Mandal is an academic researcher from University of Calcutta. The author has contributed to research in topics: Agricultural diversification & Time series. The author has an hindex of 7, co-authored 23 publications receiving 128 citations.

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TL;DR: In this paper, the authors investigated whether money demand function can be estimated by a partial model (conditional model) in particular, by a Single equation specification like the partial adjustment model and distributed lag model, or by a full system method (joint distribution) like Vector autoregressive (VAR) model.
Abstract: This study investigates the following two issues. First, whether money demand function can be estimated by a partial model (conditional Model) in particular, by a Single equation specification like the partial adjustment model and distributed lag model, or by a full system method (joint distribution) like Vector autoregressive (VAR) model. Different concepts of exogeneity have been exploited to see the exogeneity status of all the variables under consideration for estimation of the money demand function and it has been found that price and interest rates are weakly exogenous for money implying that the partial model (but not single equation) may be appropriate. It has also been found that only price and short term interest rates are super exogenous with respect to the parameters of the demand for M3 implying that the money demand function should not be inverted to get the price equation. Secondly, this paper also examines the stability of the long run money demand for M3 in India during the period 1981-1998. In spite of the large shocks due to financial liberaliz!ati?n during 1990, the long run demand for M3 is found to be stable. Here it is worthwhile to mention that stability of money demand is a prerequisite condition for super exogeneity.

28 citations

Journal ArticleDOI
TL;DR: In this article, the authors estimate the pass-through impact of international oil prices on the Indian economy and find evidence of higher passthrough to domestic inflation and industrial output, particularly since 2002 when domestic prices started to adjust more frequently to international prices.

24 citations

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TL;DR: In this paper, the authors re-examine the validity of three propositions on the finance-growth relationship: financial deepening has a strong impact on the growth process, measures of financial activity rather than the size of the sector plays a more significant role in the growth, and financial structure (bank-based versus stock market-based) has no impact at all.
Abstract: The cross-country empirical literature on the finance-growth relationship has debated three propositions. These are (i) Financial deepening has a strong impact on the growth process (ii) Measures of financial “activity” rather than the “size” of the sector plays a more significant role in the growth process and (iii) Financial structure (bank-based versus stock market-based) has no impact on the growth process at all. The present study re-examines the validity of these propositions for a developing economy using the Vector Error Correction Model (VECM) methodology. In the context of the “size versus activity” debate, we also test whether these two aspects of the financial sector can impact growth rates independently. The results support the strong impact of financial deepening on growth but finds that the other propositions are not as robust.

20 citations

Journal ArticleDOI
11 Apr 2014
TL;DR: In this article, an attempt to evaluate the investment management of Indian mutual funds in terms of the timing abilities of fund managers during May 31, 2000 to March 31, 2012 was made.
Abstract: This study is an attempt to evaluate the investment management of Indian mutual funds in terms of the timing abilities of fund managers during May 31, 2000 to March 31, 2012. The study has also adopted conditional performance evaluation measure in order to evaluate performance of Indian mutual funds. The results relating to the market timing skills of fund managers based on unconditional Treynor–Mazuy and Henriksson–Merton models have revealed that majority of the fund managers were unable to time the market correctly during the period under consideration. However, conditioning only on public information improves the coefficient of determination.

15 citations

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TL;DR: In this paper, the authors investigated the pattern, trend, and factors influencing crop diversification in different districts of West Bengal, based on secondary data, and the Simpson index has been used to estimate diversification.
Abstract: Crop diversification is one of the most important risk management and income enhancing strategies for farmers. The study investigates the pattern, trend, and factors influencing crop diversification in different districts of West Bengal, based on secondary data. The Simpson index has been used to estimate diversification. The results show that all the districts of West Bengal and the state as a whole have exhibited a higher crop diversification during new millennium than the nineties. Both the supply side and demand side variables have been found to influence crop diversification. These variables include rural literacy rate, the percentage of urban population to total population of the district, relative earning from high-value crops (HVC) than cereals, the market density of a particular region, the percentage of small landholders and area under high yielding varieties (HYV) of food grains. The magnitude of rainfall and extension of crop insurance facility also have a significant impact on crop diversification. The government should come forward with suitable policies to encourage crop diversification. These policies may encompass the development of rural infrastructure, enhancement of rural literacy rate, the extension of crop insurance facilities and above all, the development of suitable price policy in favor of high-value crops. Key words: Crop diversification, Simpson’s index, panel data regression, high-value crop, smallholder.

13 citations


Cited by
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Journal ArticleDOI
01 May 1970

1,935 citations

Journal Article
01 Jan 2000-Kyklos

603 citations

Posted Content
TL;DR: In this paper, a new modelling strategy is introduced which provides a practical approach to incorporate long-run structural relationships, suggested by economic theory, in an otherwise unrestricted VAR model.
Abstract: A new modelling strategy is introduced which provides a practical approach to incorporating long-run structural relationships, suggested by economic theory, in an otherwise unrestricted VAR model. The strategy is applied in the construction of a small quarterly macroeconometric model of the UK, estimated over the period 1965-1995 in eight core variables: domestic and foreign outputs, domestic and foreign prices (both measured relative to oil prices), the nominal effective exchange rate, nominal domestic and foreign interest rates and real money balances. The aim is to develop a core model with a transparent and theoretically coherent foundation. Tests of restrictions on the long-run relations of the model are presented and the dynamic properties of the model are discussed.

151 citations

18 Jul 2012
TL;DR: The Centre's library contains a good collection of books, journals, reports, newspapers covering a wide-range of themes related to history, politics, economy, geography, languages, culture and literature of Pakistan as mentioned in this paper.
Abstract: Development Projects (Laboratories, Libraries, etc.) o The Centre’s Library contains a good collection of books, journals, reports, newspapers covering a wide-range of themes related to history, politics, economy, geography, languages, culture and literature of Pakistan. There is also a sufficient collection on the South Asia, Central Asia and the Middle East. New books are being added on regular basis. The library receives more than 20 research journals covering a vast field of subjects particularly Social Sciences. The Library is also acquiring English and Urdu local newspapers.

116 citations