Analytical Issues in Trade, Development and Finance: Essays in Honour of Biswajit Chatterjee (India Studies in Business and Economics)

The book’s 30 chapters are divided into three sections – __international trade, economic development, macroeconomics and finance__ – and focus on the frontier issues in each. Section I addresses analytical issues relating to trade-environment linkage, capital accumulation for pollution abatement, possibility of technology diffusion by multinational corporations, nature of innovation inducing tariff protection, effects of import restriction and child labour, the links between exchange rate, direction of trade and financial crisis—the implications for India and global economic crisis, financial institutions and global capital flows and balance of payments imbalances. Section II consists of discussions on the causes of widespread poverty persisting in South Asia, development dividend associated with peace in South Asia, issues of well-being and human development, implications for endogenous growth through human capital accumulation on environmental quality and taxation, the rationale for a labour supply schedule for the poor, switching as an investment strategy, the role of government and strategic interaction in the presence of information asymmetry, government’s role in controlling food inflation, inter-state variations in levels and growth of industry in India, structural breaks in India’s service sector development, and the phenomenon of wasted votes in India’s parliamentary elections. Section III deals with the effectiveness of monetary policy in tackling economic crisis, the effective demand model of corporate leverages and recession, the empirical link between stock market development and economic growth in cross-country experience in Asia, an empirical verification of the Mckinnon-Shaw hypothesis for financial development in India, the dynamics of the behaviour of the Indian stock market, efficiency of non-life insurance companies, econometric study of the causal linkage between FDI and current account balance in India and the implications of contagious crises for the Indian economy. Front Matter....Pages i-xxix Front Matter....Pages 1-1 Trade–Environment Linkage: A South-centric Model-Specific Analysis....Pages 3-18 Accumulation of Capital for Pollution Abatement and Immiserizing Growth—A Theoretical Result for Developing Economies....Pages 19-36 Optimal Entry Mode for Multinationals with Possibility of Technology Diffusion....Pages 37-62 An Example of Innovation-Inducing Tariff Protection....Pages 63-71 Import Restrictions, Capital Accumulation and Use of Child Labour: A General Equilibrium Analysis....Pages 73-86 Direction of Trade, Exchange Rate Regimes, and Financial Crises: The Indian Case....Pages 87-96 Global Crisis, Financial Institutions and Reforms: An Indian Perspective....Pages 97-124 Global Capital Flows and Payment Imbalances....Pages 125-139 Front Matter....Pages 141-141 Widespread Poverty Amidst High Economic Growth: Some Lessons from South Asia....Pages 143-169 Development Dividend of Peace: Experience of South Asia....Pages 171-186 Well-Being in Human Development Framework: Constituents and Aggregation....Pages 187-191 Human Capital Accumulation, Environmental Quality, Taxation and Endogenous Growth....Pages 193-215 Labour Supply Schedule of the Poor: A Commonsense Approach....Pages 217-229 Switching as an Investment Strategy: Revisiting Parrondo’s Paradox....Pages 231-239 Asymmetric Information, Non-cooperative Games and Impatient Agents: Modelling the Failure of Environmental Awareness Campaigns....Pages 241-249 Government’s Role in Controlling Food Inflation....Pages 251-271 Interstate Variations in Levels and Growth of Industry: Trends During the Last Three Decades....Pages 273-293 Unit Root and Structural Break: Experience from the Indian Service Sector....Pages 295-320 Infrastructure Development and Regional Growth in India....Pages 321-341 The Phenomenon of Wasted Vote in the Parliamentary Elections of India....Pages 343-367 Front Matter....Pages 369-369 Monetary Policy and Crisis....Pages 371-379 An Effective Demand Model of Corporate Leverage and Recession....Pages 381-394 Empirical Evidence on the Relationship Between Stock Market Development and Economic Growth: A Cross-Country Exploration in Asia....Pages 395-403 Financial Development in India: An Empirical Test of the McKinnon–Shaw Model....Pages 405-420 Dynamics of the Indian Stock Market....Pages 421-448 Analysis of Revenue Efficiency: Empirical Study of Indian Non-Life Insurance Companies....Pages 449-456 Empirics on Fiscal Smoothing: Some Econometric Evidence for the Indian Economy....Pages 457-466 Index of Financial Inclusion: Some Empirical Results....Pages 467-478 The Causal Linkage Between FDI and Current Account Balance in India: An Econometric Study in the Presence of Endogenous Structural Breaks....Pages 479-498 Contagious Financial Crises in the Recent Past and Their Implications for India....Pages 499-533 Back Matter....Pages 535-538 This commemorative work in honour of Professor Biswajit Chatterjee-an acclaimed economist, learned scholar and researcher-focuses on contemporary issues in international trade, development economics, and macroeconomics and finance.