The paper uses panel data for Indian industries in the post-reform period to study the direct and indirect productivity effects at firm level generated by foreign investment. It finds no evidence that foreign investment directly increases firm-level productivity, nor that R&D spending is more...

Presence of externalities can be significant in the developing economies, which have been able to augment aggregate economic growth in response to policy reforms. The empirical results of this paper based on firm level panel data for 12 Indian industries indicate presence of external economies...

The paper provides a taxonomy of corrupt activities in terms of the source of illegal rent involved. It identifies two types of deterrent policies: discouraging and monitoring. Using these as tools, it analyses the probable effects of India's ongoing reforms and of her resourceful information...

Productivity is generally defined as the amount of output realised for a given level of inputs. The neo-classical growth theory considers productivity as a function of technology and capital accumulation. In this paper, I argue that apart from technology and capital, productivity depends on...

Corruption is a major political and economic issue in India. The stakes, value, frequency, and costs of corruption have become exceptionally high in the history of modern India. This is partly because some of the tenets of free market mechanism are implemented in the absence of underlying...

Cooperatives as organizational arrangements of collective economic activity can break up interlocked capital, labour and output markets in rural areas and alleviate poverty. The recent parallel law on cooperatives provides and opportunity to take a fresh look at this issue. There is no coherent...

Foreign direct investment (FDI) plays an important role in India's growth dynamics. There are several examples of the benefits of FDI in India. FDI in the retail sector can expand markets by reducing transaction and transformation costs of business through adoption of advanced supply chain and...

Emerging economies present the case of rapid changes in markets and institutions. In this context, joint ventures between multinational enterprises (MNEs) and local firms are subject to a gamut of calculations between the partners for arriving at mutually beneficial contractual arrangements. In...

This article examines the public and private partnerships (PPPs) in investments in infrastructure of provision of public goods in India beset with institutional failures at several fronts. It draws insights from institutional (transaction costs) and information economics. The objective is to...

Governance of economic and political activities both by private and public institutions is an important source of economic development apart from the conventional sources such as technological progress, capital accumulation and endowment of resources of a nation. China and India are the two...