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.

Mass Flourishing and Corporatism: Two Indian Stories

Abstract: This paper examines Phelps’ notions of ‘corporatism’ and ‘flourishing’ from the point of view of India’s growth experience since independence in 1947 up to 1990s when economic reform was initiated. It looks at two pre-reform Indian stories, those of agriculture sector and industrial sector, which provide a developing country color to Phelps’ analysis.

Stabilization of a stock‐loan valuation PDE process using differential flatness theory

Abstract: The article proposes flatness‐based control for stabilization of a stock‐loan valuation process that is described by a partial differential equation. By applying semi‐discretization and th...

Decentralisation and Capture: A Career Concern Approach

Abstract: This paper shows how provision of public goods differ in the context of centralisation and decentralisation when the incumbent politician confers the responsibility of the actual provision to a bureaucrat who extracts bribe from the public and provides a predetermined portion of it to the bureaucrat. Thus, the politician has to make a decision as to how much share of the bribe he is supposed to claim given that he is to face an election shortly where he will be judged according to his performance in public good provisioning. We attempt to formalise this in the context of a career concern model following Holmstrom (1999) and Persson and Tabellini (2000). We show that when the cost of delivery under centralisation is greater than double the cost of delivery under decentralisation less one, centralised policymaking would unanimously lead to higher provision of public goods. This result is based on the assumptions that all the voters are strategic in nature. Later we introduce the concept of "impressionable voters" in the line of Grossman and Helpman (2001) as a precondition to capture of politicians by local interest groups and obtain a very interesting result which can be summarised as follows. When only expenditure is decentralised, capture is possible if the cost of delivery of a public good is too low or "impressionable" voters among the local populace is very high.

Child Labor as an Institution in India

Abstract: This paper deals with various dimensions of child labor in India,its magnitude and its effect on different sections of the society viz. urban, rural and tribal. This paper also brings out the condition of children in different employments and steps taken by government to reduce child labor. This paper also brings out various national and international initiative taken up by the government and various international agencies and there short comings.

Do Leveraged Speculators Aid Equity Market Efficiency And Liquidity? - Evidence From Emerging Market, India - ( 1 R)

Abstract: We examine the effect of organised options trading on stock price behavior immediately following one-day stock price declines of 10% or more. A matched pair sample of National Stock Exchange of India option and non-option firms are analysed from July 2001 to October 2003. After controlling for the share price, trading volume, beta and drop-date return, we find that three-day cumulative abnormal return for option firms are approximately 2.45 percent less than those for nonoption firms. Thus, options’ trading enhances stock market efficiency and / or liquidity. The result is significant because it comes in the context of recently launched organised options market.