Integration of the domestic market for funds with foreign money markets is a natural corollary of financial sector liberalisation. For a transition economy like India, therefore, we assume interest rates to be a combination of an autarkic rate as in a closed economy and the uncovered interest parity rate as in a completely open economy. Wecapture both the long run and the short run dynamics of domestic interest rate behaviour by estimating an error correction model using the Engle-Granger methodology. Econometric analysis suggests that as the Indian financial sector integrates more and more withglobal markets, returns on foreign assets playa significant and increasing role in the determination of domestic interest rates.
The objective of the study is to estimate the poverty alleviation effects that depend on the change in average income received by various population groups resulting from the growth of a sector’s output and on the strength of poverty sensitivity. The poverty alleviation effects in rural India are estimated under four alternative market regimes using a Social Accounting Matrix (2factor x 7agent x 10 sector). It is found that agriculture sectors dominate the poverty alleviation effects irrespective of policy regimes. Manufacturing sector assumes importance under more liberalised regimes. Moreover, the poverty eradicating impacts of sectoral growth are maximum on the households which are engaged in agriculture.
A 10-sectors. 2-factors and 7-household groups Computable General Equilibrium (CGE) model with neoclassical closure is carried out to analyse the relative impact of various taxes and tariffs on the welfare of seven socioeconomic household groups. The policy simulations are based on the equal yield tax rates.
In response to the balance of payments problems, restructuring economies on the recommendation of the World Bank and IMF is taking place all over the world. India embarked on the path of economic reforms in 1991. In fact, from the early eighties distinct policy changes were introduced in the Indian economy in this direction. This restructuring of the economy is expected to affect people’s lives in various ways. The main purpose of the present exercise is to review the studies which assess the impact of these policies on the employment of women in India. The study is divided into four sections. Section-I examines some of the constraints faced by women while competing with men in the labour market, along with brief discussion of certain approaches to achieve gender justice. Section-II highlights the trends and nature of female employment and its impact on female work burden. In Section-III, related aspects of female employment such as wages and earnings, social security and empowerment are discussed. Section-IV gives the main conclusions and policy implications.
In recent years there has been considerable discussion on the enhancement of our understanding of what constitutes economic development and human well being. Income growth as an indicator of development has been subjected to considerable questioning. A view has emerged that the understanding of economic development has to be achieved by supplementing income measurement with other indices of human development. Research has also been done on understanding better the relationship between human development and income growth. Many of the composite indices proposed in the recent past have considered education, health status and such other variables as important components of well being. In this context public investment in these sectors assumes significance. A study of the effect of such investment and its judicious allocation is therefore useful for policy formation and Programme design for the future.
This working paper is the result of such an attempt. Using cross section data from secondary sources, this study makes an assessment of the impact of public investment in human resources, particularly in education and health, under a social sector model. Under realistic assumptions this also attempts to trace the growth pattern in these aspects of well being in the near future.
