Op-Ed – Page 60 – NICKELED AND DIMED

Will India’s Economy live up to Expectations?

Unlike other emerging economies, strong investor sentiment and the meltdown in crude oil prices bolstered India’s growth in the last financial year. Though the projected growth rate for 2016 shows a slight decline of 0.1 per cent, the World Bank predicts that India will grow by a robust 7.8 per cent this year and by…
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IMF Quota Reform: What is in it for Emerging Economies?

In quota reforms which have been long overdue, the IMF has increased the voting share of emerging economies. But is this enough? Richa Sekhani tries to answer this question… Marking a “significant” development at the International Monetary Fund (IMF), developing countries including India and China will now have more voting rights with the implementation of…
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State, Market and Institutions: Changing Roles and Relationships in Economic Development Since 1950

Mohan Kumar reviews the work of leading Development Economists to understand the role of the market and the state and how the evolution of the field of Development Economics has contributed to our understanding of these institutions. [Mohan Kumar is pursuing his Masters in Diplomacy, Law and Business from Jindal Global University, Haryana] The emergence…
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Myth of “Value Added” in Indian Industry: Has India Missed the Bus?

Sourish Dutta is an MPhil Student of Applied Economics at Centre for Development Studies, JNU According to the ASI database, although the flow of “Net Income” is increasing impressively, the flow of intensity of net income (i.e. net income/output) is in decline mode. Through acute statistical analysis, throughout ASI data, it is noted that the…
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ECONOMY OF TURKMENISTAN: THE EVOLUTION

This essay, written by Ansh Bharadwaj, is a country study of Turkmenistan. He gives a comprehensive narrative on Turkmenistan’s economic trajectory in the wake of the socialist regime that took over after the country became independent of foreign control. The essay also throws light on the reforms introduced in the country and the challenges ahead.…
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Libertarianism Vs. Socialism : Some Debates

In two essays, Ashit Srivastava looks at two aspects of the debate revolving around the two schools of thought, Libertarianism and Socialism: Right to Property and the Relevance of Laws in a state. Right to property The never ending quest of human beings of assimilating and creating things, has led to this question over and…
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“China’s One Belt One Road Initiative”: Analysis from an Indian Perspective

Reproduced from Economic and Political Weekly Issue Vol. 50. Issue No. 49, Dec 5, 2015 with the authors’ permission. The authors Geethanjali Nataraj (geethanjali@orfonline.org) and Richa Sekhani (richa.sekhani@orfonline.org) are with the Observer Research Foundation, New Delhi. The One Belt One Road initiative is the centrepiece of China’s foreign policy and domestic economic strategy. It aims…
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The ABCs of Agent Based Computational Economics

The unrealistic assumptions that economic models are based on have rendered many models insufficient and impractical in application in the real world. Aishwarya Ketkar offers Agent Based Computation as an answer for those who want to simulate models capturing actual human behaviour and experiences…. Economy is an interactive complex system reflecting the interaction between various agents residing within it. The attempts at classifying Economics into a perfect science are transforming into varied perspectives being used to predict consumer behavior. There is a clear indication of evolution of a novel mathematical ideology into economics taking aid of the massive computing power made feasible by technology. Leon Walras was the first person to classify Economics as a science. To Walras and the Physicists of his time, economy was a closed system following simple mathematics to gain …
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Essays on Equality..

The Flawed Concept of “Equality before Law” Justice, a quintessential element of society, the absolve of which gives birth to oppression and anarchy, the mere dream of which has given birth to thousands of revolutions, a conception so powerful which transcends all barriers of class, society and religion. Ina country as diverse as India, it…
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Is it the End of the Dominant Dollar?

The inclusion of the Yuan in the SDR is a significant move in various respects. Deepanshu Mohan analyses the possible consequences of the ‘promotion’ of the Chinese currency. The cat is finally out of the bag. The IMF has confirmed that the Chinese yuan will be included in the Special Drawing Rights (SDR) basket of…
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India-Afghanistan: A Tie from the Past

In this essay, Srilaxmi Sriram explores India’s historical relationship with Afghanistan and underlines the future potential as well as possible obstacles which can serve as deterrents in smooth economic and political relations. Afghanistan, as a rich land with abundant resources, has been a crucial area since the Mughal rule in India. Since that period, Afghanistan…
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The Chinese recipe for growth, and slowdown?

To understand the reasons for the Chinese slowdown, it is important to revisit the reasons for China’s economic success. In this article, Alexandra de Mingo McAllister attempts to provide a comprehensive understanding of China’s journey uptil now. In Yingyi Qian’s paper on “How reform worked in China”, he analyzes how the Chinese economy blew mainstream…
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