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Authors:Shreya Malhotra Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. I examine the extent to which a shift from a mutual consent divorce regime to a unilateral divorce regime (UDR) succeeds in preventing domestic violence. In my framework, a partner may be inclined to violence but dislikes being subjected to a partner’s violence. I find that, when payoff from marriage is positive, both parties choose the maximum level of violence under a mutual consent regime (MCR). There is a parameter zone within which domestic violence falls as a transition is made to a UDR. Further, I find that policymakers can reduce the cost of filing for divorce. I also find that the marriage rate changes with the switch in the regime.JEL: C72, D10, D13, K36 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2022-05-20T11:00:07Z DOI: 10.1177/09767479221096712
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Authors:Ummed Singh, Ranjan Aneja Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. The present study is an attempt to analyse the district-level disparity in agriculture sector development in north-eastern Rajasthan across 11 districts. To measure the regional disparities and identify the factors underlying the convergence or divergence in agriculture sector development the coefficient of variation (CV) and agriculture development index have been computed. District-wise agricultural development index (ADI) has been constructed for two cross-section years 2005–2006 and 2017–2018, and districts have been classified into three development categories on the basis of values of indices. Principal component analysis (PCA) has been used. To identify the factors and their impact underlying the convergence or divergence in agriculture sector development, the multiple regression technique has been applied. The study finds wide disparities in level of development in agriculture sector across the districts. However, disparities have reduced during the period 2005–2006 to 2017–2018. The study suggests that policymakers should stress on irrigation facilities, farm inputs supply, road connectivity and R&D in agricultural inputs for raising the agriculture sector productivity and income in less-developed districts. Committed and well-planned measures on the part of the policymakers are needed if the development policy is to be made truly inclusive in the state. Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2022-04-07T09:07:14Z DOI: 10.1177/09767479221088147
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Authors:Kabir Chugh, Namrata Gulati, Tridip Ray Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Numerous studies have explored the role of the economic characteristics of a neighbourhood on the health status of its residents. We contribute to this work by examining the effects of the change in concentration of affluence on the perception of the quality of medical treatment received by the poor. We consider different neighbourhoods characterised by their level of prosperity. Based on the Asset Index, a particular primary sampling unit is identified as poor, middle or rich neighbourhoods to capture regional differences in the level of poverty. In each of these regions, we measure how the percentage of poor who claim that they were treated nicely varies with the change in the percentage of rich. The results reveal that, after a point, the probability of the perception of receiving superior treatment initially increases with an increase in the percentage of rich people and then starts declining. The principal component analysis is used to create weights in the asset index. The estimation is based on the nationally representative India Human Development Survey-2 (IHDS-2) household data collected in 2011–2012. We employ an ordered logit model for the analysis, as the perception of the quality of treatment, the dependent variable, is ordered in nature. Furthermore, we use Heckman’s two-step correction method to control for the plausibility of ‘self-selection’.JEL: I14, I39 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2022-03-01T08:49:24Z DOI: 10.1177/09767479211064145
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Authors:Nupur Moni Das, Bhabani Sankar Rout Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. This study is directed at gauging the equity price risk of the Indian commercial banks for the period 2003–2020. Parametric value-at-risk (VaR) is employed to estimate the downside risk. Further, the univariate exponential generalized auto regressive conditional heteroskedasticity (EGARCH) model is also used to find out the existence of stylised aspects of volatility. The outcomes point towards the existence of volatility clustering, persistence and asymmetry, but differ from bank to bank. Furthermore, the parametric VaR model that assumes normal distribution and student’s t-distribution is not found to be an accurate model for all the banks. Tail risk is also found to be significant, and thus, justifies the Basel Committee’s decision to shift towards an expected shortfall. However, these conventional VaR models should be supplemented by internal models, taking into consideration, bank-specific characteristics.JEL: G01, G15, I15, G17, G28 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2022-02-10T08:42:22Z DOI: 10.1177/09767479211057048
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Authors:Bathula Srinivasu, Shilpa Bhatia, Ankita Gupta Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Women entrepreneurs have been facing various challenges in the sustenance of their enterprises. During the COVID-19 lockdown in India, their vulnerability doubled due to the financial distress. In the backdrop of this, the paper measures the direct and indirect impact via forward and backward linkages of women entrepreneurs during the COVID-19 lockdown. Further, it examines their sustainability and the challenges they faced during the lockdown. The paper is based on primary data using a pre-structured questionnaire from 50 women entrepreneurs in Rishikesh, Uttarakhand. Analyses have been performed using principal components analysis, Kruskal–Wallis H test, Mann–Whitney U test and Chi-square test. The paper exhibits that both the direct and indirect impacts via forward and backward linkages have been more significant on women entrepreneurs. However, women entrepreneurs tried to sustain their business by switching towards online conduct of business, changing their promotional strategy and doing work from home. A major challenge faced by them is the lack of finance, and they relied on their previous savings to finance the expenditure.JEL Codes: L25, L26 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2022-02-07T03:25:09Z DOI: 10.1177/09767479211065970
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Authors:Shiladitya Chatterjee Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. During the Mughal and colonial periods, Bengal was among the most prosperous regions of the subcontinent. Despite the rapacity of the colonial administration, and despite partition, at independence, West Bengal was one of the most industrialised and developed states of India. However, its performance now is just average among Indian states. This article investigates the causes of this decline, objectively, taking a holistic view and analysing all relevant factors, using available public data and assessing the various views that are offered by scholars over the years. While partition dealt a heavy blow to West Bengal, several other factors aggravated the state’s economic problems, including central and state policies. These impinged in areas of industrial and agricultural growth, urban development, human development and the state’s resources for growth.In recent years West Bengal has seen better overall growth, including the industrial sector. State finances have improved and have the potential for further consolidation. Kolkata has better urban infrastructure. Increased regional cooperation with Bangladesh can undo the loss of markets and resources that partition had imposed. If managed properly, the state can further improve its overall development performance. This article offers suggestions regarding the priority development interventions that are necessary. Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2022-01-20T11:29:09Z DOI: 10.1177/09767479211050983
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Authors:Chayanika Mitra Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. This article attempts to capture gender bias in education expenditure among the religious (Hindu, Muslim and others) and the social groups (SC, ST and General) in West Bengal. Oaxaca–Blinder decomposition technique is used to obtain gender bias for a specific demographic group. Further, an attempt has been made to identify the religious or social groups with the acute problem of gender bias. In this work, 71st round (January–June 2014) education expenditure data (individual level) provided by NSSO (National Sample Survey Office) is used.JEL: I24, R1, C55 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-12-22T11:09:51Z DOI: 10.1177/09767479211046400
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Authors:Monalisa Das, Alok Sen Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. This study is an attempt to examine the fuel use pattern and its impact on the respiratory health of the users in the rural area of Barak Valley region of southern Assam. The effectiveness of Pradhan Mantri Ujjwala Yojana (PMUY) in mitigating the practice of unclean fuel has also been analysed in this study along with other related issues. The results based on personal information of 2,541 individuals from 530 households of Barak Valley reveal that incidence of respiratory illness is more profound in the households of solid biomass fuel users. The study further reveals that though PMUY has equipped the rural households with clean fuel connections but failed to change the fuel use practice of the beneficiaries. Among the barriers of clean fuel use practices, insufficient income of the households and availability of free and low-cost alternative fuels are found to be more prominent. The ordered probit model to examine the factors posing risk to respiratory illness reveal that women are at higher risk of developing respiratory syndromes as they spend more time in cooking space. While among others, smoking habit and age of the person are significant in increasing the risk pulmonary syndromes.JEL: I15, I38, Q52, Q58 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-11-09T09:57:47Z DOI: 10.1177/09767479211047006
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Authors:Aisha Sheikh, Owais Ibni Hassan Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. This article attempts to test the environmental Kuznets curve (EKC) for export diversification and river water pollution (proxied by biochemical oxygen demand) for India during the period from 1986 to 2019. Over the past decade, India’s merchandise exports have been dominated by pollution-intensive industries such as mineral fuels, pharmaceuticals, nuclear reactors, organic chemicals and electrical machinery, iron and steel, and textiles. Additionally, India’s export mix is weakly diversified or a small number of commodities form the merchandise export basket. River water pollution is one of the gravest ecological threats in this country. Although a host of reasons define this ecological devastation, this study attempts to investigate if the weakly diversified, pollution-intensive export basket has any link with biochemical oxygen demand.Dickey–Fuller (ADF) and Philip–Perron (PP) tests are employed to determine the stationary properties of the variables and the autoregressive distributed lag (ARDL) cointegration test, as well as the bounds test to check the short- and long-run cointegration.Findings suggest that (a) export diversification is strongly cointegrated with biochemical oxygen demand both in the short and in the long run, and (b) the conventional inverted U-shaped EKC was not validated. Furthermore, a weakly diversified export basket increases water pollution.Suggested policy initiatives to combat industrial water pollution include the introduction of economic instruments. The water pollution abatement experience of industrial clusters suggests that radical institutional and governance reforms are paramount for successful policy reforms. Finally, there is a need to reduce the export commodity basket concentration not just to insulate the economy against global dynamics but also for achieving the goal of sustainable development.JEL codes: F18, Q56, Q53. Q580 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-10-19T11:03:22Z DOI: 10.1177/09767479211040135
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Authors:Hammed Oluwaseyi Musibau, Tobiloba Adedoyin Adenekan, Waliu Olawale Shittu Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Nigeria, among other developing countries, faces a lot of challenges on growth and global competitiveness as a result of low foreign capital and energy insecurity, among others. Using a quantile-on-quantile regression technique on Nigeria’s data covering 1980–2017, this article examines the impacts of foreign direct investment (FDI), energy security and globalisation on economic growth. Our empirical findings suggest the following: (a) the net impact of energy security on economic growth is negative—implying that energy security impedes growth in Nigeria; (b) globalisation stimulates economic growth across all quantiles, but only significant at the third quantile; (c) as expected, each of labour and capital produces a positive effect on growth; and (d) there exists an adverse, non-significant effect of FDI on economic growth across all quantiles. Similarly, there is evidence of a bidirectional causality between economic growth and FDI; economic growth and energy security; economic growth and globalisation; FDI and globalisation; as well as between energy security and globalisation. There is, however, a uni-directional causality running from energy security through FDI. The policy recommendations of these findings are also explained in the concluding section.JEL: Q43, Q56 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-09-15T08:52:39Z DOI: 10.1177/09767479211035679
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Authors:Sèna Kimm Gnangnon Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. This article has explored whether Aid for Trade (AfT) flows that accrue to recipient-countries depend on the latter’s level of export product concentration. The analysis covers a sample of 132 countries over the period 2002–2017. The findings indicate that least developed countries (LDCs) receive higher AfT flows when they experience a rise in the level of export product concentration, while NonLDCs enjoy higher AfT flows when they diversify export products. Interestingly, higher amounts of AfT accrue to countries that diversify their export product basket towards manufacturing products, although different result patterns appear for the components of manufactured exports.JEL: F35; F14; O14 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-09-15T08:44:38Z DOI: 10.1177/09767479211036657
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Authors:Poonam Rani, Ajeet Kumar Sahoo Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. This study examines the structure of agriculture productivity and crop diversification across different zones in Punjab, India during 1966–1967 to 2017–2018. The composite entropy index shows that almost all zones are specialised in few crops but some of them are relatively less or some are more. Hence, we found zones are experiencing a lateral movement toward crop specialisation and crop diversification is not happening. Further, results reveals that accessibility of market and roadhave a positive influenced the level of crop diversification are accessibility of market, roads have found a positive influenced on crop diversification. Whereas more use of fertiliser, intensity of irrigation and rainfall have leads to concentration rather than crop diversification. Similarly, study also analysed the factors that are responsible of variation in productivity by regional factors such as better road, fertiliser, urbanisation, literacy and cropping intensity. As the analysis indicates that there is need to emphasise on agro-climatic regional preparation by clearly identifying the existing resource endowments and constraints of the agro-climatically homogeneous regions.JEL: C23,Q10, Q19 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-09-15T08:43:41Z DOI: 10.1177/09767479211031312
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Authors:Bhabani Mishra, S. S. Rath Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Galloping levels of impaired assets slowly destroy the economy by throwing it into a major financial crisis. The current article studies recent trends and compositions of stressed assets among 45 selected Indian commercial banks. The non-parametric test (Kruskal–Wallis) is applied to know whether there exists any difference in the movement of gross non-performing assets ratios and net non-performing assets ratios (NNPAs) among bank groups and individual banks. The group-wise comparative study shows that a significant difference exists in the movement of NNPA ratio only between foreign banks and public sector banks and between private banks and public sector banks. Significant differences also exist among the individual banks in foreign and private bank groups. The Games–Howell post-hoc test finds that some pairs of banks have significant differences. The current financial downswing attributed to pandemic has increased the chances of fraudulency and sporadic default events and enhanced the problem of bad loans. Amalgamations of State Bank of India with its associates in 2017 and Bank of Baroda with Dena Bank and Vijaya Bank in 2019 have shown falls in stressed assets that possibly foreshow the future furtherance in asset quality of other four anchor banks that are merged with six banks, with effect from April 2020.JEL Codes: G21, G34 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-08-03T06:23:15Z DOI: 10.1177/09767479211027874
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Authors:Ananda Mukherjee, Sarbajit Sengupta Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Private expenditure on education is a determining factor for ensuring an individual’s educational progress. Though the government provides a vast infrastructure at minimal cost, the individuals have to incur cost from their pockets for various purposes. In this study, we have analysed the various influences on private expenditure on education based on National Sample Survey 71st round conducted in 2014. We have found that household consumer expenditure, respondent’s age, medium of instruction dummy, private coaching dummy and household computer dummy affect private expenditure on education positively, and household size, rural dummy, female dummy, social group dummies, minority religion dummy and type of school dummy affect private expenditure on education negatively. The important policy implications are the tendency to spend less for the female child needs to be amended and the male and female child needs to be given same preference when it comes to expenditure on education. Family planning should be implemented effectively to keep the household size reasonably small for better educational access of an individual. The weaker social groups such as STs, SCs and OBCs and the minorities should be supported well by scholarships and stipends for furthering their education. The number of government institutions should increase to provide low-cost education to society. English medium schools should be made to offer more seats for the financially weak. Private coaching should be made as redundant as possible by improving teaching in the schools. For having computer in households, the financially weak should get some subsidy or may be community computer centres can cater to their needs at reduced cost or free of cost.JEL: I25, I22 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-05-25T03:21:30Z DOI: 10.1177/09767479211012382
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Authors:Bhaskar Dasgupta Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Since the pioneering paper by Besley and Burgess (2004) claimed to have found a positive relationship between flexible and pro-employer labour regulations with manufacturing sector performance, there has been an increasing pitch among policymakers to rationalise India’s complicated labour laws. Several state governments have since undertaken significant reforms in their respective labour law regimes. During the recent pandemic-induced lockdown, some states have gone to the extent of temporarily suspending labour laws to kick-start the economy. The Government of India has also recently consolidated the fragmented labour laws by integrating them into four functionally arranged Codes. But the regulatory measure developed by Besley and Burgess, the very basis of their conclusions, has been criticised on the ground of narrow coverage, methodological inconsistency, misclassification of amendments, etc. This article, therefore, attempts to construct a comprehensive Index by mapping state level-amendments in five important labour legislations over the seven-decade period from 1949 to 2017 and coding those amendments. The article is organised as follows: After the context-setting introductory section, the second section summarises the existing evidence on the relationship between labour regulations and manufacturing sector performance in India. The third section discusses the limitations of Besley–Burgess Index. The fourth section briefly mentions the research direction post publication of Besley–Burgess paper. The fifth section develops a comprehensive Index, and it discusses how it improves the BB Index. The sixth section concludes the article.JEL: J3, K3 Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-02-16T09:52:31Z DOI: 10.1177/0976747921989149
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Authors:Nikita Jain Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. Strong labour laws play a major role in motivating innovation among employees. It has been found in the literature that stringency of labour laws is positively linked with employees’ efforts in innovation, in particular, wrongful discharge laws (WDL). However, employees may also bring nuisance suits against employers. Usually, the result of these suits is that both parties settle with each other. Thus, even if employees are justly dismissed, they may be able to bring nuisance suits against employers and gain a settlement amount. This article investigates how the possibility of nuisance suits affects the impact of WDL on employees’ efforts in innovation. In this respect, a game-theoretic model is developed in the article to find the equilibrium level of employees’ efforts in the presence of nuisance suits, where there is a possibility of employees getting discharged from the firm. I find that if nuisance suits are a possibility, the stringency of WDL has no impact on employees’ efforts if defence cost of the firm is low; but for higher defence costs, WDL affects employees’ efforts. The efforts exerted by an employee are found to be weakly increasing in the defence costs of the firm. Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-02-08T10:26:07Z DOI: 10.1177/0976747921989171
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Authors:Suresh Chand Aggarwal Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print. The current study aims to find an ‘Inclusive Development Index’ (IDI) for the selected Indian states for the year 2017–2018 and has tried to incorporate indicators encompassing different aspects of the economy and life of the people. The index has tried to be more comprehensive and contemporary and attempts to keep the interest alive in the all-important policy objective of an inclusive growth in India as well as in many other countries around the world. The study has followed the guidelines given by Organisation for Economic Co-operation and Development (OECD, 2008, Handbook on constructing composite indicators: Methodology and user guide) to construct a composite index and has included two pillars of growth with a total of 14 dimensions (sub-pillars) represented by 62 indicators. Principal component analysis (PCA) has been applied at the indicators level and simple averaging at the dimension and pillar levels to obtain the composite IDI for 20 Indian states. The states are ranked based on their inclusiveness score on IDI and divided into the ‘front-runners’, the ‘achievers’ and the ‘aspirants’. IDI may help the states to identify their spheres of ‘low’ performance and learn from their ‘front-runner’ peers. Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-01-23T06:18:24Z DOI: 10.1177/0976747920985455
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Authors:Shweta M Chandrashekhar Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print.
Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-01-19T10:42:30Z DOI: 10.1177/0976747920961961
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Authors:Barna Ganguli First page: 127 Abstract: Arthaniti: Journal of Economic Theory and Practice, Ahead of Print.
Citation: Arthaniti: Journal of Economic Theory and Practice PubDate: 2021-08-10T04:48:13Z DOI: 10.1177/09767479211025723
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