We model competitive bidding by states (in a federal structure) to attract investments. This process involves a stage game rather than a single-stage prisoner's dilemma or repeated game. The offering of competitive subsidies involves a cost. The benefit consists of: i) The welfare enhancement of...

This paper examines market structure and efficiency of price transmittals in the two national stock exchanges of India: The Bombay Stock Exchange and the National Stock Exchange. Price movements in a large number of important stocks in both markets are considered. The framework used is the...

If public expenditure and public revenue are I(0) public debt is sustainable but if these are I(1) and not cointegrated or have a cointegrating vector dierent from [1, -1] the public debt is said to be unsustainable. Extant work indicates that India’s public debt is unsustainable. We...

Poverty, particularly rural poverty, has been one of the enduring policy challenges in India. Surely the most important objective of the reforms process would have been to make a significant dent on rural poverty. It is from this that a program of accelerated growth must draw its rationale. In...

This paper tries to assess why lowering interest rates is proving to be hard in India. It singles out the role of three factors: (i) high public debt and the structure of this debt, (ii) the overhang of non-performing assets; and (iii) the policy being pursued with respect to accumulation of...

This paper reports on mean consumption, poverty (all three FGT measures) and inequality during January to June 2004 for rural India using National sample Survey (NSS) data for the 60th Round. Mean consumption at the national level is much higher than the poverty line. However, the Gini...

This paper analyses vulnerability in Fiji, the Kyrgyz republic, Papua New Guinea and Vanuatu. In incorporating measures of vulnerability there is no major departure from the perspective of MDG 1 Analyses of vulnerability, like that in the present paper, emphasize the fact that the debates around...

In this paper we compute nutrient-expenditure elasticities for two macro nutrients (calories and protein) and five micro nutrients (calcium, thiamine, riboflavin, calcium and iron) using an all India sample of rural households for 1994. We show that in each case the respective elasticities are...

This paper tests for market integration in 55 wholesale rice markets in India using monthly data over the period January 1970 - December 1999. The technique of Gonzalez-Rivera and Helfand (2001) is used to identify common factors across various markets. It is discovered that market integration...