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.

Regulations and price discovery: oil spot and futures markets

Abstract: In a period of great oil price volatility, the paper assesses the role of expected net demand compared to liquidity and leverage driven expansion in net long positions. We apply time series tests for mutual and across exchange causality, and lead-lag relationships, between crude oil spot and futures prices on two international and one Indian commodity exchange. We also search for short duration bubbles, and how they differ across exchanges. The results show expectations mediated through financial markets did not lead to persistent deviations from fundamentals. There is mutual Granger causality between spot and futures, and in the error correction model for mature exchanges, spot leads futures. Mature market exchanges lead in price discovery. Futures in these markets lead Indian (daily) futures-markets are integrated. But there is stronger evidence of short-term or collapsing bubbles in mature market futures compared to Indian, although mature markets have a higher share of hedging. Indian regulations such as position limits may have mitigated short duration bubbles. It follows leverage due to lax regulation may be responsible for excess volatility. Well-designed regulations can improve market functioning.

Secluded and Proximate Illiteracy: Comparing Situations

Abstract: Triplot is used to portray the three-dimensional concepts - literate, proximate illiterate and secluded illiterate. Pictographic portrayal complemented with a method proposed to calculate distance between situations enhances comparison. Illustration with Indian data explains change over time, rural-urban divide, and social gap.

Urbanisation in a Decade of Near Jobless Growth

Abstract: Unlike other countries at similar levels of development, the transition of the workforce out of agriculture in India is incomplete. While we have a fair understanding of developments at the national and state levels, due to data limitations, very little is known about the processes at play and the consequent labour market outcomes across the size class of villages and towns of India. In this chapter, we outline the stages in the rural non-farm employment transition since this has implications for the rate of urbanisation and the changes in key workforce indicators at the national level in the inter-censal period 2001–11. We, then, provide estimates of a few key indicators of the labour market across size class of cities. Finally we expose the level of job concentration across 21 broad sections of industry at the sub-national level. From the analysis it emerges that initiatives aimed at the expansion of non-farm employment need to begin with an improved understanding of the conduciveness of the urban employment pattern in the nearby areas. However, given the dispersed nature of census towns, an alternative view would be that small towns and villages, irrespective of whether they are in the vicinity of an urban agglomeration or not, could be engines of growth.

Impacts of climatic hazards on agricultural growth in India

Abstract: Using a panel of state-level data for the period 1970–2018 this paper assesses the impacts of climatic hazards, viz., droughts, floods, heat-waves and cold-waves, on agricultural growth in India, a...