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...

How has the microcredit movement managed to push financial frontiers? In a context in which borrowers vary in unobservable risk, Ghatak (1999, 2000) shows that group-based, joint liability contracts price for risk more accurately than individual contracts, provided that borrowers match...

What are major factors behind underdevelopment of corporate bond market in India? One of the major bottlenecks to the development of this market lies in relatively larger costs of financing which dissuade the firms to raise finance from this avenue. Policies that ensure better production of...

This paper details the procedures adopted by the Tamil Nadu Medical Services Corporation in procuring and supplying essential drugs to the government health care which is a positive measure in ensuring `health for all’. [GIDR WP No. 161].

Telecommunications reform in recent years in almost all developed and developing nations created an opportunity to attract foreign direct investment. The investments have been taking place mainly in the emerging ‘new’ economy sector. The main drivers of this sector are the...

Dr. Bimal Jalan, Governor gave a welcome remark to Prof. Charles Goodhart on his 11th C. D. Deshmukh Memorial Lecture on 'Whither Central Banking ?' This paper revolves around Dr. Jalan's summary and Prof.Goodhart's lecture on central banking. [RBI CD Deshmukh]

Despite witnessing a decade of rapid economic growth, an acceleration of growth in the organised manufacturing sector has eluded India. Using data from the Annual Survey of Industries, the factors holding back the growth of output and employment in this sector is examined. It is found that there...