Getting India Back to the Growth Turnpike: What Will It Take?

India’s real GDP growth has slipped substantially since the onset of the North Atlantic financial crisis (NAFC). There are questions as to whether growth can be revived back to the high growth phase of 2003–2008 in an environment of macroeconomic and financial stability. This article argues that returning India to a high growth turnpike is quite feasible but it will need much more focused attention to the revival of manufacturing and to accelerate investment in transport and infrastructure. The immediate priority is to achieve the kind of fiscal quality and low inflation level that was exhibited during 2003–2008, with focused attention to increasing efficiency and compliance in tax revenue collection Higher tax revenues can facilitate increases in public investment for the delivery of public goods and services, which then crowd in private investment. However, the task ahead will be more difficult now in view of the protracted slow-down in global economic growth and in global trade.     

如何突破民办高校筹资的困境

民办高校筹资问题是关系到民办高校能否长足发展的重要问题。本研究从民办高校筹资现状与发展趋势入手,通过分析影响民办高校筹资的经济、政治、文化等因素,提出了民办高校的筹资激励措施,即鼓励多渠道筹资,拓展优质民办高教资源;财税配比组合,引导闲置资金进入民办高教领域;政府搭建桥梁,促进筹资和投资双方的深度合作;完善机制,破解民间投资准入难的问题;转变家族财富传承观,吸引富裕阶层捐资民办高教。     

'Canada Steps Up'--Task Force to Modernize Securities Legislation in Canada: recommendations and discussion

The first 150 words of the full text of this article appear below. Key points

• The Task Force to Modernize Securities Legislationin Canada released its report entitled ‘Canada Steps Up’in October 2006. Its 65 recommendations focused on bringingCanadian securities law into the 21st century, enhancing Canada'scompetitiveness in the global marketplace and eliminating itshigher cost of capital relative to the US.
• This article reviewsand analyses the Task Force's recommendations in five criticalareas: cost–benefit analysis (CBA), improving access tocapital markets, the use from electronic disclosure systemsand financial literacy, the regulation of hedge funds and finally,enforcement.
• This article also reviews two issues that receivedsignificant Task Force discussion, but were left as ideas forconsideration, namely an insurance scheme for misinformationin the capital markets and subsidizing securities analysis toimprove analyst coverage of small firms.
• Finally, conclusionsare drawn from the Task Force's deliberations and recommendationsand next steps are suggested.