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This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the International Macroeconomics section discuss critical topics like aggregate level macro model for India with a new Keynesian perspective, balance of payments, service sector exports, foreign exchange constraints for import demands, foreign direct investment and knowledge spill over, the relationship between forex rate fluctuation and investment, Institutional quality-trade openness-economic growth nexus, cu...
This book discusses wide topics related to current issues in economic growth and development, international trade, macroeconomic and financial stability, inflation, monetary policy, banking, productivity, agriculture and food security. It is a collection of seventeen research papers selected based on their quality in terms of contemporary topic, newness in the methodology, and themes. All selected papers have followed an empirical approach to address research issues, and are segregated in five parts. Part one covers papers related to fiscal and price stability, monetary policy and economic growth. The second part contains works related to financial integration, capital market volatility and macroeconomic stability. Third part deals with issues related to international trade and economic growth. Part four covers topics related to productivity and firm performance. The final part discusses issues related to agriculture and food security. The book would be of interest to researchers, academicians as a ready reference on current issues in economics and finance.
Abstract: The success of development programs, including water resource projects, depends on two key factors: the role of underlying institutions and the impact synergies from other closely related programs. Existing methodologies have limitations in accounting for these critical factors. This paper fills this gap by developing a methodology, which quantifies both the roles that institutions play in impact generation and the extent of impact synergies that flows from closely related programs within a unified framework. The methodology is applied to the Kala Oya Basin in Sri Lanka in order to evaluate the impacts of three water-related programs and the roles of 11 institutions in the context of food security. The results provide considerable insights on the relative role of institutions and the flow of development synergies both within and across different impact pathways. The methodology can also be used to locate slack in impact chains and identify policy options to enhance the impact flows.
Poverty in India is intimately connected with caste, untouchability, colonialism and indentured servitude, inseparable from the international experience of slavery and race. Focusing on historical and modern practices, this book goes beyond traditional economic approaches to poverty and demonstrates its genesis in exclusion, isolation, domination and extraction resulting in the removal of human and economic rights. Examining cash and asset transfers, as well as the enhancement of women’s rights, primary health and education, it scrutinizes inadequacies in compensatory policies for redressing the balance. This is an original interdisciplinary contribution that offers bold domestic and international policies anchored in human radicalism to eradicate poverty.
India is one of the major emerging economies of the world and has witnessed tremendous economic growth over the last decades. The reforms in the financial sector were introduced to infuse energy and vibrancy into the process of economic growth. The Indian stock market now has the largest number of listed companies in the world. The phenomenal growth of the Indian equity market and its growing importance in the economy is indicated by the extent of market capitalization and the increasing integration of the Indian economy with the global economy. Various schools of thought explain the behaviour of stock returns. The Efficient Market Theory is the most important theory of the School of Neoclas...
It is well known that sustainable development practices, technological innovation and good governance play a major role in the accumulation of wealth in a knowledge economy. Hence, the state promotes competition, provides incentives to conserve resources and creates opportunities for citizens to push for innovation and invention. As a result, the formulation of efficient legal rules is essential for protecting intellectual property rights, fully specified contracts and effective ex-ante and ex-post systems. However, can efficient legal rules improve societal well-being by changing the behaviour of individuals and basic social structures and trends? And if so, how can these legal rules be for...
The book’s 30 chapters are divided into three sections – international trade, economic development, macroeconomics and finance – and focus on the frontier issues in each. Section I addresses analytical issues relating to trade-environment linkage, capital accumulation for pollution abatement, possibility of technology diffusion by multinational corporations, nature of innovation inducing tariff protection, effects of import restriction and child labour, the links between exchange rate, direction of trade and financial crisis—the implications for India and global economic crisis, financial institutions and global capital flows and balance of payments imbalances. Section II consists of...
The report evaluates the impacts of climate change on the hydrological regime and water resources of the Blue Nile River Basin in Ethiopia. It starts from the construction of the climate change scenarios based on the outcomes of several general circulation models (GCMs), uses a simple hydrological model to convert theses scenarios into runoff, and examines the impacts by means of a set of indices. The results, however uncertain with existing accuracy of climate models, suggest that the region is likely to have the future potential to produce hydropower, increase flow duration, and increase water storage capacity without affecting outflows to the riparian countries in the 2050s.
The construction of dams in Africa is often associated with adverse malaria impacts in surrounding communities. However, the degree and nature of these impacts are rarely quantified and the feasibility of manipulating reservoir water levels to control mosquito breeding has not been previously investigated in Africa. This report describes entomological and epidemiological studies conducted around the Koka Dam and Reservoir in Ethiopia. The research findings confirm the role of the reservoir in increasing malaria transmission and provide evidence that there is potential to use dam operation in integrated malaria control strategies.
Declining productivity of agricultural soils in Northeast Thailand is a challenge facing land managers and farmers. A program was initiated in 2002 to investigate the potential role of incorporating clay-based materials into degraded soils as a means of enhancing productivity. This research report attempts to provide an ex-post assessment of the field level impact and economic viability of this approach, using the empirically derived estimates of the average income impacts that the application of bentonite or clay technology has generated among farm communities in Northeast Thailand. From an exclusive IWMI perspective, the impact evaluation suggests that the program has a net present value (NPV) of US$0.41 million with a benefit-cost ratio (BCR) of 2.44 for the sample, and a NPV of US$21 million with a BCR of 75 for the region.