Does the Feldstein–Horioka puzzle exist among South Asian countries? A regime‐switching approach

A plethora of literature has been undertaken to study the validity of the Feldstein–Horioka (FH) puzzle. However, divergent views continue to persist in the FH puzzle literature. This study explores the empirical validity of the FH puzzle in the case of South Asian countries using annual data from 1960 to 2017. Both panel data approach and Markov‐switching regression approach are used to empirically analyze the FH puzzle. The results of the cointegration test confirm the long‐run relationships between saving and investment in the selected South Asian countries. The results of Markov‐switching regression confirm that the saving‐retention coefficient has shifted from high to low values and also from low to high values. Thus, the FH puzzle exists for a particular time period and mostly depends on the regime shifts in the South Asian countries. The results of panel fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) methods also confirm that FH puzzle holds for the South Asian countries. Therefore, the study suggests that any saving promotion policies are desirable for enhancing investment among the South Asian regions.     

Comparison of Impact of Procedural Justice and Outcome on Victim Satisfaction: Evidence From Victims’ Experience With Registration of Property Crimes in India

Crime victim–police interface and registration of crime are the early and fundamental interactions in the criminal justice system. The process of lodging a complaint is marked by the pain of victimization, sharing of information, and expectation of quick remedial action from the police. The nature and quality of experience of the victim and outcomes impact the level of satisfaction with services of police. Through a survey of victims of property crimes, in different areas of a state in India, the author examines the impact of procedural justice and outcomes on victim satisfaction. The study illuminates the outcome oriented expectations of the victim, and the unique dynamics of victim–police interaction, which strains the legal ethical framework of the criminal justice system.     

Madhya Pradesh Housing & Infrastructure Development Board: affordable housing via public–private partnership mode

The Madhya Pradesh Housing & Infrastructure Development Board (MPHIDB) is a state‐owned entity in Madhya Pradesh State of India with the mandate of providing housing for citizens, particularly for those in the low‐income segment. MPHIDB has been constructing houses on its own using the traditional engineering and procurement contract (EPC) model. In July 2015, it was exploring the possibility of creating affordable housing units via public–private partnership (PPP). The advantage of involving private sector is that MPHIDB can tap into creative energy and construction efficiency of the private sector and deliver the best results within the given set of time and resource constraints. The proposed structure of PPP is that the private partner will be given a portion of land in lieu of the affordable housing units that it will build and transfer to MPHIDB. However, there are trade‐offs involved in doing the project in PPP mode instead of EPC mode. The main advantages of a government body like MPHDIB doing the project on its own are as follows: (a) It is able to better manage regulatory risks in terms of getting clearances, land acquisition, and so forth; (b) it can raise finances at lower interest rates than what is charged for private sector entities; and (c) the entire land parcel is available to construct houses, and hence it can get more housing units per unit of land. The Commissioner (CEO) of MPHIDB had to decide whether to go for PPP or EPC model, and if he opted for PPP, how should the PPP be structured?     

Surplus yield and production structure: The case of small‐scale rural industries in West Bengal

Rural industries in West Bengal are characterized by a multiplicity of organizational forms, such as independent petty production, petty production under subcontracting relations with a master trader, modern small‐scale production, and medium‐sized capitalist production. On the basis of field data, we have estimated the amount of surplus generated by these different kinds of producer across a number of organizations and industries, using an alternative criterion: imputing wages to family labour. It was observed that a large number of petty producers generate negative or very low surpluses, and thus have to find supplementary sources of income. Further, the surpluses generated by petty producers attached to a master trader are generally higher than those of independent petty producers.This can be explained in one of two ways. Either the existence of mutual trust between attached petty producers and a master trader offers the former certain advantages over the independent ones, in terms of steady access to urban markets, cheaper sources of raw materials, and easy credit. Or, alternatively, the control such attachment licenses enables a master trader both to extract and to maintain continuous access to higher levels of surplus. For these reasons, this system, of organization lends viability to artisanal production.     

Market,Freedom and the Illusions of Microcredit. Patronage,Caste, Class and Patriarchy in Rural South India

Abstract

As a market tool, microcredit is expected to promote individual freedom, for women in particular. By drawing on a southern Indian case, this paper argues that microcredit is in fact shaped by the power structures it is supposed to eradicate. Even if they are partly reshaped, local structures of power remain unavoidable to protect populations (something that microcredit fails to do) but also to build the microcredit market and ensure its legitimacy, for donors, local political arenas and local populations. Far beyond microcredit, our findings question the uneasy relationships between markets and individual freedoms.     

Confirmatory Factor and Smallest Space Analyses on the Belief in a Just World Scale

Social Justice Research - A confirmatory factor analysis (CFA) was used on the Belief in a Just World Scale (BJW; Lucas, Zhdanova & Alexander in J Individ Diff 32:14–25, 2011) to test...     

Moving beyond nation-state: Framing state-level politics in India

The article refers to the processes that have been critical to the emergence of states as significant categories for the analysis of politics in India after a considerable period of academic neglect. It is in this context that the article considers the following research questions for discussion while referring to the state politics literature: what has been the contribution of the “first generation” of state-specific studies and to what extent has the “second generation” of inter-state comparative studies been able to take this forward? What could be the specific advantages of inter-state studies over single case studies? Finally, the article argues in favour of a need to develop further what may be considered the “third generation” of studies in the discipline, that remain comparative in nature but are in search of a much-nuanced grounded analysis; this would move beyond state-specific or inter-state studies and start taking up intra-state comparative studies, focusing on historical-cultural substate regions that have emerged as political (and economic) units within and across the constituent states of the Indian Union.