Capital and Debt Trap
In: Journal of global economy, Band 8, Heft 1, S. 3-4
ISSN: 2278-1277
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In: Journal of global economy, Band 8, Heft 1, S. 3-4
ISSN: 2278-1277
In: Journal of global economy, Band 6, Heft 3, S. 225-237
ISSN: 2278-1277
India and Japan share a special relationship as fellow democracies seeking greater economic engagement in Asia. The major traded commodities changed from cotton-related products in the early 1900s to heavy machinery in the 1970s. During the same period heavy industrial products were the major export commodities from Japan besides metal and metal products like iron and steel and steel plates. The 1980s marked the beginning of a new phase in Indo-Japan relations with the establishment of the Maruti-Suzuki plant. There was a minor set back in relation in 1999 when India went through its nuclear test. In August 2000, however, Japanese Prime Minister Yoshiro Mori made a visit to India that helped propel ties forward. The relations have further been strengthened with the visit of Japanese Prime Minister Yukio Hatoyama in 2009. This paper attempts to analyze imports and exports of commodities and products to and fro these countries to see the effect of bilateral relations on trade, after India initiated trade reforms in 1991. Data under HSN systems has been gathered from UNCOMTRADE database and grouped under heads as Agricultural commodities, products from food industry, earth crest, manufactured products, electronics and others. The time series has been analysed using dummy variables for trade reforms and tie ups. Potential products shall be explored using market share - growth matrix. Series has been detrended to see how variables responsible for trade between two countries adjust themselves in short run.
In: Journal of global economy, Band 5, Heft 3, S. 225-238
ISSN: 2278-1277
Indian economy also passed through these stages during the year 2008. The economic growth rate, which was above 8% for consecutive period of three years since 2006, suddenly plunged to an average of 5.5%. Developed world is under the fear that recession may not turn out to be continuous process resulting into great depression. Generally recessions are for two quarters, but depression is a severe economic downturn that lasts several years. Earlier India was affected less by external world depressions as it relied more on internal consumption, saving and import substitutions. However, after 1991 India opened up its economy to global players, share of exports, both goods and services, in GDP grew significantly. This paper is an attempt to analyse the variables responsible for India's recent growth, impact of world recession on these variables and their significance. It needs to validate whether India's economy has shifted away from consumption and saving to external sector dependence.Classification-JEL: Keywords: Indian Economy, Recession, Consumption, Monetary Policies, International Trade, Economic integration
In: Journal of global economy, Band 4, Heft 4, S. 259-275
ISSN: 2278-1277
Cooperative marketing is not new to India. To get the economies of scale, Indian craftsmen and traders made shrenies or groups of similar products and trade during 6th and 7th centuries. This was the basis of caste system. The villages during medieval and British period grew with cooperative trade. Cooperative marketing is just an extension and application of the philosophy of cooperation in the area of agricultural marketing. It is a process of marketing through a cooperative society, formed for the producers, by the producers. It seeks to eliminate the middlemen between the producer and the consumer, thus getting the maximum price for their produce. Kirana shops are traditional retail outlets in India. However with the advent of new cooperative marketing with modern all-facility malls, there is general perception that retails consumers are getting skewed towards malls and consequently Kirana stores are experiencing tough competition to retain their customers. This paper is an attempt to know consumers' perception of Malls and Kriana stores.
In: Journal of global economy, Band 4, Heft 4, S. 246-258
ISSN: 2278-1277
Rising food prices hurt poor the most. The real burden of inflation is always higher than what the WPI figures suggest. Right through 2007, consumer inflation was running much higher for all categories. During the last month of 2007, inflation as measured by the consumer price index was above 5 per cent for the three categories of workers that are tracked by the official statistics, even as wholesale price inflation was just 3.5 per cent. Even as the government pulls out all stops to douse the fires of inflation, one should not forget that it is the outcome of years of neglect of agriculture. It has been observed that prices were highly volatile during the first half of 2008. UPA government took office in may, 2004. Leaving the first year of office as it is with period lagged effect of earlier government, an analysis of period between April, 2005 to May 2008 (leaving highly volatile period from April, 2004 to March, 2005 and June, 2008 to July 2008, by the time this paper is written) needs to be carried out to see trends in prices.
In: Journal of global economy, Band 3, Heft 2, S. 83-84
ISSN: 2278-1277
In: Journal of global economy, Band 1, Heft 1, S. 8-11
ISSN: 2278-1277
Public administration functions through bureaucratic organisations. The definition of bureaucracy, which is a based on the function of specialisation, has two significant components viz. communication and delegation. No plan can be executed without proper communication and delegation of authority. Communication is never complete without feedback. Delegation is never complete without decentralisation. Communication and delegation run side by side
In: Journal of global economy, Band 1, Heft 1, S. 33-44
ISSN: 2278-1277
One of the main objectives of the governments' export policy is to maximise agricultural exports in order to earn foreign exchange. It also seeks to provide remunerative prices to the farmers while ensuring adequate availability of essential commodities to the domestic consumers at reasonable prices. This paper analyses the India's exports of livestock and allied products to principal groups of countries in the light of world trade. The direction of trade has been analysed to explore the areas where exports can be given a further boost. Four groups of commodities -1) Live animals, 2) meat and meat preparations, 3) milk and milk products and 4) eggs, honey and other products of animal origin- have been selected for the analysis. Harmonised system of nomenclature classifies the commodities on the basis of origin, use, functions and trade. Exports of select groups of commodities over 10 years have been analysed from the period 1993-1994 to 2002-2003 (in short 1993 to 2002). Importers of Indian products have been arranged in 5 groups- SAARC includes Bangladesh, Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka. Middle East Group includes UAE, Saudi Arabia, Kuwait, Yemen, Bahrain, Turkey, Qatar, Lebanon, Iran, Iraq, and Israel. High Income Asian Countries (HIAC) includes Japan, Singapore, South Korea, Taiwan, China, Hong Kong, Thailand, Indonesia, Malaysia and Philippines. High Income Other Countries (HIOC) include Australia, Austria, Belgium, Canada, Denmark, Germany, Iceland, Ireland, Israel, Netherlands, Portugal, Spain, Switzerland, UK and USA, Rest of World is the fifth group. No country has been repeated in any group.
In: Journal of Global Economy, Band 4, Heft 2, S. 181-198
ISSN: 2278-1277
India is largest producer and consumer of Pulses. Pulses are a major source of protein for an overwhelming number of Indians. Thus the availability and prices of pulses have an important bearing on the health and well-being of the people. As the incomes rise, people will demand more and more of non-cereal food and hence the demand for pulses is also expected to rise in future. With the rise in demand, prices rise; Government of India allows import of pulses from time to time to neutralise prices. With respect to pulses, apparently no major research work has been undertaken to study the causes of import. This paper attempts to analyse import of various category of pulses after the onset of economic reforms since 1991 and also determinants of import of pulses.
In: Journal of global economy, Band 14, Heft 1, S. 3-27
ISSN: 2278-1277
With huge investments flowing from all over the world to India, FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors), retail investors, investment advisors, brokers and portfolio consultants keep abreast with latest research on fundamentals and technicals. Interdependence between stock markets is an important aspect of international portfolio management. In this paper, impact of Asian Indices like Hang Sang, KOSPI, SET SIT and TSEC on opening prices of Indian index Nifty was studied with various tools like Johansen Cointegration Test, VAR Granger Causality and Pairwise Granger Causality test. Similarly impact of European indices like CAC, FTSE, Euronext, DAX and SMI on Nifty closing prices were studied with same tools. The 3 months, 6 months, one year and 5 year data were subjected to experiment whether series are cointegrated. It was observed that series are cointegrated at very short-term level but for longer period they are not cointegrated, however, they influence others. VAR Granger Causality Test and Pairwise Granger Causality reveal that Hang Sang, KOSPI, SIT and TW (TSEC of Taiwan) impact Nifty Open prices. Nifty influences only TW. KOSPI influences Hang Sang and SET. SET influences KOSPI and TW. Similarly, VAR Granger Causality Test and Pairwise Granger Causality also reveal Nifty closing prices influence CAC, DAX, FTSE
In: Journal of global economy, Band 12, Heft 2, S. 101-110
ISSN: 2278-1277
AbstractBusinesses across the globe faces challenges to ensure stability, growth and sustainability. Companies have to deal with changes in economic, social, cultural, political and technological environment. Companies failing to do may face financial distress causing default in payment of contractual obligations and erosion of shareholders wealth. In a business scenario where the stakeholders are many viz. shareholders, lenders, employees, government and society at large, protection of the interests of the stakeholders assume prime importance. Company's management are expected to identify signals that indicate distress and take remedial measures. This paper attempts to identify distress signals in textile sector in India. Textile sector is one of the largest sector in India. However one third of companies in this sector have reported losses for the previous year. This study aims to examine the factors that can differentiate a distressed company from a non- distressed company so that the factors signifying distress can be studied. Listed companies in textile sector incurring continuous losses for three years were selected for the study. Financial ratios were used as variables. Logistic regression was applied to identify the most important factors indicating distress. It was observed that ratios measuring profitability and efficiency were significant in predicting distress. Key words: Financial distress, distress signals, textile sector, continuous losses, financial ratios
In: Journal of global economy, Band 12, Heft 1, S. 36-49
ISSN: 2278-1277
This paper does an exploratory analysis of factors responsible for the volatile fluctuations in the exchage rate of Indian rupee duirng the calendar year of 2013. The series Exchange Rate (RBI Reference Rate), MIBOR Rate, Crude Oil Pirce, Foreign Reserves, Gold rate and Nifty were found to be cointegrated and long run and short relationships have been explored by VECM.
In: Journal of global economy, Band 10, Heft 3, S. 221-234
ISSN: 2278-1277
India's growth rate picked up from 4% during (pre-reform period) to 9 % during the first decade of this century (2001-10). Earlier India was affected less by external world depressions as it relied more on internal consumption, saving and import substitutions. However, after reforms picked up, its economy was opened to global players, share of exports, both goods and services, in GDP grew significantly. There is a consensus among economists that every economic expansion is followed by recession. During the boom, when economic growth is too fast and unsustainable, inflation increases. To reduce it, the governments deflate the economy by various ways which result into credit crunch and falling prices. Cost push inflation squeezes incomes and reduces disposable income. This causes a collapse in confidence of finance sector and 'real economy'. Indian economy also passed through these stages during 2008-12. The economic growth rate was above 8% for consecutive period of three years since 2006. However by the time it reached 2012 the GDP growth rate fell to 5% approximately. This paper is an attempt to explore the reasons for India's recent fall of growth in GDP.by exploring pre-reforms and post-reforms scenario analysing the data from April, 1971- March 2012 (in short 1971 to 2011),and by examining short term quarterly data from 2008 to 2012 to explore affected sectors.
In: Journal of global economy, Band 12, Heft 1, S. 50-65
ISSN: 2278-1277
While the fear of speaking may prevent some students from speaking in seminars altogether, those that do sometimes find their nerves restrict them from adequately sharing their views and intelligence, resulting in an embarrassed, unconfident student who then promises him/herself never to speak up again. Students may feel fear at the possibility of embarrassing themselves and appearing foolish or saying the 'wrong' thing. After graduation, students need oral presentation skills to succeed in the workplace. Employers look for graduates with excellent oral presentation skills. Communication skills are important for people entering the workforce. Thus the role of educational institutions and specifically of the instructors offering oral presentation courses is important in helping students to improve their skills. Training plays a significant role to improve public speech skills of students.This study aims to explore the issues related to public speech training programs for students, parameters which should be used as pedagogy to improve their public speech skills. Four experiments were performed on students based on 30 parameters.
In: Journal of global economy, Band 10, Heft 4, S. 265-275
ISSN: 2278-1277
For the longest time the spotlight of study of co-movement between the markets was confined to the western markets and very few studies focused on Asian equity markets inter-linkages. The focus of research literature started shifting to Asia in the late 1990's mainly on account of the South-East Asian crises in 1997-98.In Asia, apart from Japan and China, Hong Kong, Taiwan, Singapore, South Korea India and Thailand, have attracted the interest of international investors. In this paper, the linkages between the movements of the equity markets of these six nations are studied by applying Johansen's Cointegration test and Vector Error Correction Method on the stock market data for a period spanning 2009 to 2013. The results obtained did not support a significant long run relationship among the chosen markets. In short run Singapore markets influenced Indian Markets negatively, Hong Kong Market was found to be influenced by Indian and Singapore market. Singapore market was found to be influenced by Indian market and its own lagged prices. South Korean markets were influenced in short term by Indian and Singapore markets. Thailand and Taiwanese markets were not influenced by any of these markets in short term.