Unconventional monetary policy spillovers: Evidence from India

Many of the studies on the unconventional monetary policy spillover effects concentrated primarily on the policy announcements of the U.S. Federal Reserve. Using a time series approach, with dummies in the event study framework, this study estimates the monetary policy spillover effects of the unconventional monetary policy announcements of the central banks of four major economic regions: the United States, the United Kingdom, European Central bank, and Japan on the asset prices in India. In addition to that, this study estimates the asymmetry in the responses to positive and negative surprise announcements. The study reveals that unconventional monetary surprises do not have any significant impact on the asset prices in India in a narrow time window.     

India after the 2014 general elections: BJP dominance and the crisis of the third party system

ABSTRACT

This article critically assesses claims that India has entered a new party system after the 2014 general elections, marked by renationalisation with the BJP as the new ‘dominant’ party.’ To assess these claims, we examine the electoral rise of the BJP in the build-up to and since the 2014 general elections until the state assembly elections in December 2018. Overall, we argue that despite the emerging dominance of the BJP, a core feature of the third party system -a system of binodal interactions- has remained largely intact albeit in a somewhat weaker form. Furthermore, by comparing the post 2014 Indian party system with key electoral features of the first three party systems, we conclude that the rise of the BJP has thrown the third-party system into crisis, but does not yet define the consolidation of a new party system.     

Abhinav Chandrachud: Republic of Religion: The Rise and Fall of Colonial Secularism in India

Liverpool Law Review -     

Macroeconomic determinants of remittances to India

Economic Change and Restructuring - Migration and remittances have always been an exciting arena of research for economists around the globe. Remittance flows have evolved as a significant economic...     

The Impact of Resource Inflows on Child Health: Evidence from Kwazulu-Natal,South Africa, 1993–98

This paper investigates changes to the health status of young children (aged 0–5 years) in the Kwazulu-Natal province of South Africa during 1993–98. In our estimation we explicitly take into account the potential endogeneity of household resources in affecting child health. In particular, we examine whether the effect of resources is differentiated by the source, the age and the sex of the recipient. Finally, we also take into account the panel structure of the data and conduct (household level) fixed effects estimation of the determinants of child health. The estimation results show that the state of child health has experienced marked improvement following the dismantling of apartheid. Our results point to the role of household resources and health infrastructure availability in improving the health status of children.     

Farmers’ perceptions of milk-collecting centres in Thailand's dairy industry

This study assessed farmers’ perceptions of milk-collecting centres (MCCs) in the central and north-eastern regions of Thailand. MCCs can be divided into two groups, dairy cooperatives and private organisations. There were similar perceptions about the role of MCCs among the farmers regarding the basic needs of dairy farmers, but with a stronger focus of economic issues for private organisation members, while dairy cooperative members views were more from the perspective of ownership. The farmers were somewhat satisfied with their MCCs’ performance, except that private organisation farmers were less satisfied with credit services. Policy recommendations are presented.     

INDIA-CHINA BOUNDARY DISPUTES: AN OVERVIEW

This article traces the development of the Sino-Indian Boundary problems from their origins during the “Great Game” period during the British Empire in India to the present day. The article looks at both the Western and Eastern Sectors, and traces the development of the various putative frontiers (the Johnson-Ardagh/ Macartney-MacDonald Lines and the McMahon Line respectively). The article looks at recent tensions which have arisen over the frontier areas, as well as the prolonged but unsuccessful attempts to solve the disputes, and considers what moves might be necessary to bring a final resolution of the problems.