Indira Gandhi Institute of Development Research

About: Indira Gandhi Institute of Development Research is a facility organization based out in Mumbai, Maharashtra, India. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 307 authors who have published 1021 publications receiving 18848 citations.

Inclusion Versus Marginalization: Concepts and Measures

Abstract: The concept of ‘inclusive growth’ has received wide currency ever since the UNDP started advocating it as a development goal. Contemporary development policy literature is replete with references to terms like ‘inclusion’, ‘exclusion’, ‘mainstreaming’ and ‘marginalization’ without a well-defined concept or measure for each of these terms. Of course, these terms pertain to the different distributional dimensions of the development process. This paper proposes a conceptual framework to define these dimensions in an integrated framework. It defines empirical measures for the corresponding outcomes to facilitate policy formulation, monitoring and evaluation. Finally, it provides an empirical illustration with reference to the Indian experience.

Food Security in India: The Imperative and Its Challenges

Abstract: This article addresses the imperative of food security in India in the context of persistent prevalence of malnutrition despite several years of rapid growth. In particular, the article posits that the recent promulgation of the National Food Security Act in September 2014 to meet this challenge also offers an opportunity to reconfigure its food distribution system and agricultural trade policy. These two issues pose the greatest and most immediate challenges for India. The more enduring challenge for India would be to sustain food production to ensure not only adequate quantities, but also to support dietary quality and diversity.

Changes in Distance-to-default as a timely indicator of changes in credit ratings

Abstract: The timeliness of the credit rating of a rm has been frequently called into question, particularly over the previous decade. This paper examines if changes in credit ratings be updated on a more frequent basis than at the frequency of updates in the accounting data. The paper nd that changes in high frequency market price based measure of distance to default, augmented with accounting measures along with other rm characteristics such as ownership structure, can provide more timely updates on the probability of credit ratings upgrades or downgrades.

Asian Reserves and the Dollar: Is Gradual Adjustment Possible?

Abstract: Large dollar reserves in Asian EMEs accompany large US fiscal and current account deficits. Analysis of strategic sales by Asian EMEs suggests that an attack on the dollar is not certain but is possible. A unique equilibrium where Asian EMEs sell their reserves does not exist but there are multiple Nash equilibria. Therefore action, which includes adjustment, is required to coordinate to the better equilibrium. There is evidence that more flexibility in Asian exchange rates will reduce risk for Asian EMEs, but the flexibility will have to be limited, and it depends on more flexibility in the renminbi. Moreover, limits to adjustment in wages put limits on realignments between US and Asian exchange rates. Therefore while a gradual adjustment strategy is feasible it will require both expenditure switching and expenditure reduction, with the latter moderated by the maintenance of robust global growth.

Developing Women: Why Technology Can Help

Abstract: The paper investigates why the Internet and communication technology (ICT) has the potential to increase the equity and efficiency of female participation in the labour force. Rigidities in female labour allocation can explain observed male-female earnings differentials. Although the static outcome is efficient, female earnings are below male earnings. The loss of potential learning-by-doing in the private good production leads to dynamic inefficiencies, which are reinforced by power relations, bargaining, perceptions and self-perceived limitations. ICT can reverse some of these effects and lower matching costs. Since perceptions take time to change, policy intervention is required.