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.

An Inquiry into the Financial Literacy and Cognitive Ability of Farmers: Evidence from Rural India

Abstract: Poor understanding of financial products and an inability to process financial information prevent millions of rural households in the developing world from making informed financial decisions. This article assesses the financial literacy and cognitive ability of farmers using data from a unique field experiment in the Indian state of Gujarat. Using ordered response models, the effect of farmers' education on cognitive ability and financial literacy is estimated on the one hand, and the relationship between cognitive ability and financial literacy is analysed on the other. Farmers' education and financial experience are shown to be significantly correlated with achievements in customized tests for ability in mathematics and probability, which are taken as the two components of cognitive ability. Cognitive ability, in turn, predicts financial aptitude and debt literacy, the two components of financial literacy. By focusing on farmers in a developing country, the findings contribute to an improved understan...

Corporate governance challenges in emerging economies

Abstract: Corporate governance research in the context of emerging economies has received increasing attention in recent years. Corporate scandals and executive failures continue despite the growing emphasis on governance reforms around the world and the increasing activism of shareholders, governments and other corporate stakeholders. Academics and practitioners are becoming aware that firm-level governance mechanisms at work in different countries are embedded in national business systems and are influenced by political, social and legal macro-institutions. To promote the studies on governance challenges in emerging markets, we organized a special issue conference in conjunction with Corporate Governance: An International Review (CGIR) in Edinburgh, UK on December 4-5, 2015 on the theme of “Challenges in Corporate Governance in Emerging Economies”. In this article, we introduce peculiarities of corporate governance in emerging economies, survey the papers included in the special issue and explore future research directions.