China, as the most populous country in the world, is ageing rapidly. Against the background of dramatic demographic changes in this century, China’s current pension system is badly structured, and not able to cope with the rapid ageing population. The Chinese government is well aware of...

The objective of this report is to share a market level overview of the early stage progress of (Mobile Financial Services) MFS in Bangladesh up through the first quarter of 2012. A series of short surveys and discussions with ten banks and four (Mobile Network Operator) MNOs, plus interviews...

Goa is celebrating the Golden Jubilee Year of its Liberation. The recent economic achievements of the state are highlighted. The economic and financial structure of the state as well as the various financial inclusion initiatives taken by the Reserve Bank are outlined. Policy challenges ahead...

The increase in direct taxes has not been able to offset the decline that resulted from the reduction in customs tariff and decline in excise revenue. The task facing the policymakers now is to explore ways in which the tax ratio can be pushed up without going back on the basic elements of the...

The robust performance of the Indian economy continued during the second quarter (July-September) of 2005-06. According to the Central Statistical Organisation (CSO), the economy recorded a real GDP growth of 8.0 per cent in the second quarter of 2005-06 maintaining the momentum of growth in the...

Allocation of local public good over three jurisdictions with individuals with heterogeneous tastes, in a model with democratic institutions and majority rule. The nature of electoral uncertainty, the expectations of individuals from government captured by their reservation utilities, and...

Public Finance

When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates; and (b) the direct impact of exchange rate changes on output. The first pertains to the monetary...

An important method of managing resources to finance consistent and balanced human development lies in the reprioritisation of current expenditure in accordance with the urgent needs and shortfalls in particular areas. Such reprioritisation should also lead the states to a better macroeconomic...