The Indian Economic Journal
About: The Indian Economic Journal is an academic journal published by SAGE Publishing. The journal publishes majorly in the area(s): Economics & Poverty. It has an ISSN identifier of 0019-4662. Over the lifetime, 605 publications have been published receiving 2421 citations.
Papers published on a yearly basis
TL;DR: In this article, the role of infrastructure availability in determining the attractiveness of countries for FDI inflows and for export-orientation of MNE production is analyzed, and the authors suggest that infrastructure development should become an integral part of the strategy to attract FDI in general, and export-oriented production from MNEs in particular.
Abstract: This article analyses the role of infrastructure availability in determining the attractiveness of countries for FDI inflows and for export-orientation of MNE production. We posit that investments by governments in providing efficient physical infrastructural facilities improve the investment climate for FDI. MNEs may be particularly sensitive to infrastructure availability for locating their investments designed to feed the global, regional or home country markets. First, a single composite index of infrastructure availability is constructed capturing availability of transport infrastructure, telecommunications infrastructure, information infrastructure, energy availability for 66 countries over the 1982-1994 period, using the principal component analysis. The role of infrastructure index in explaining the attractiveness for foreign production by MNEs is evaluated in the framework of an extended model of foreign production. The estimations corroborate that infrastructure availability does contribute to the relative attractiveness of a country towards FDI by MNEs, holding other factors constant. Furthermore, the export-orientation of production of MNE affiliates, especially when the production is meant for third country markets, is significantly related to infrastructure availability. Therefore, MNEs’ decisionmaking pertaining to location of product mandates for global or regional markets sourcing is significantly influenced from infrastructure availability considerations. These findings suggest that infrastructure development should become an integral part of the strategy to attract FDI inflows in general, and export-oriented production from MNEs in particular.
TL;DR: Inclusive growth is economic growth that creates employment opportunities and helps in reducing poverty as discussed by the authors, it means having access to essential services in health and education by the poor, it includes providing equality of opportunity, empowering people through education and skill development.
Abstract: Inclusive growth means economic growth that creates employment opportunities and helps in reducing poverty. It means having access to essential services in health and education by the poor. It includes providing equality of opportunity, empowering people through education and skill development. It also encompasses a growth process that is environment friendly growth, aims for good governance and helps in creation of a gender sensitive society. As per OECD (Organisation for Economic Co-operation and Development), inclusive growth is economic growth that is distributed fairly across society and creates opportunities for all.
TL;DR: Pravakar et al. as mentioned in this paper explored the importance of green banking, sites international experiences and highlights important lessons for sustainable banking and development in India and suggested possible policy measures and initiative to promote green banking in India.
Abstract: Sustainable development can best be achieved by allowing markets to work within an appropriate framework of cost efficient regulations and economic instruments. One of the major economic agents influencing overall industrial activity and economic growth is the financial institutions such as banking sector. In a globalised economy, the industries and firms are vulnerable to stringent environmental policies, severe law suits or consumer boycotts. Since banking sector is one of the major stake holders in the Industrial sector, it can find itself faced with credit risk and liability risks. Further, environmental impact might affect the quality of assets and also rate of return of banks in the long-run. Thus the banks should go green and play a pro-active role to take environmental and ecological aspects as part of their lending principle, which would force industries to go for mandated investment for environmental management, use of appropriate technologies and management systems. This paper explores the importance of Green Banking, sites international experiences and highlights important lessons for sustainable banking and development in India. However, we find that there has not been much initiative in this regard by the banks and other financial institutions in India though they play an active role in India’s emerging economy. Therefore, we suggest possible policy measures and initiative to promote green banking in India. This paper is forthcoming in Indian Economic Journal (IEJ). We thank the anonymous referee of IEJ, Dr. Niranjan Sahoo and Dr. Arup Mitra for their comments on the previous draft. We also thank Dr. Pushpam Kumar and Mr. Ramakanta Subudhi fore the encouragement to write this paper. *Faculty, Reserve Bank of India Unit, Institute of Economic Growth, Delhi University Enclave, Delhi-7. email@example.com. # Research Scholar, Jawaherlal Neheru University, Delhi. However, usual disclaimer applies.
TL;DR: In this paper, the authors have discussed the need to monitor the developments in higher education, to work for its restructuring according to the needs of the situation, which has turned out to be much more fluid, if not hostile, than what it used to be before the economic reform, develop new courses and adopt new methodologies of student-teacher interactions.
Abstract: Higher Education in India is currently passing through a very crucial phase under the framework of globalisation, privatisation and liberalisation. Significant pressures are being felt by the entire education sector during the period of economic reforms. Strong advocacy for withdrawal of subsidies from all sectors including education, which has been a major plank on which the reform initiatives have been put into effect, has led to a significant decline in the role of the government in funding higher education. In fact, higher education, to the dismay of idealists, was for some time, even termed as a de merit good! Realisation that there would be free entry of foreign institutions of higher learning into the country under the GATS has almost dissipated the indigenous institutions of higher learning. Thus, withering away of the patronage from the state and overpowering entry of foreign institutions is changing almost the very character and individuality of India’s higher educational system. At the same time, heavy demands made for the technical competencies in the developing economies in view of global competitive framework, can be considered as a blessing in disguise, as these forces might generate an impetus for overhauling of higher education and research in the country. The international negotiations at regular intervals under the WTO framework seem to provide a new agenda for creating the scientific and technical manpower for the country to facilitate these negotiations. In such a background, a great need is felt to monitor the developments in higher education, to work for its restructuring according to the needs of the situation, which has turned out to be much more fluid, if not hostile, than what it used to be before the economic reform, develop new courses and adopt new methodologies of student-teacher interactions, etc. Even though the recently appointed commissions, committees and study groups like the Planning Commission’s Working Groups, UGC’s Sub-Groups and Committees and Govt. of India’s working groups and finally the Knowledge Commission, etc., might serve some purpose in this direction, focused studies on the basis of in-depth examination of different aspects of higher education at frequent intervals appear to be very much needed.