Chicago rule is shown to be the unique optimal monetary policy rule from the viewpoint of an intergenerational welfare-maximizing social planner. But, in the absence of commercial banking, it really mandates the elimination of the public sector, because it involves the elimination of central...

This paper examines India’s federal system in the context of prospects for India’s future economic growth and development. After a brief review of India’s recent policy reforms and economic development outcomes, and of the country’s federal institutions, the analysis focuses on the major...

The development of the vocational training policy constitutes one of the most interesting examples of a policy which was introduced entirely due to the pressure exercised by the E.U., but it was implemented in such a way that it served the domestic political economy. The seven laws and the...

Though decentralization for past one and half decade or so has become the most favoured policy priority among the policy makers yet the countries around the world differ dramatically in the degree of decentralization that is accommodated. While diversity in degree of decentralization across the...

This paper examines India’s federal system in the context of prospects for India’s future economic growth and development. After a brief review of India’s recent policy reforms and economic development outcomes, and of the country’s federal institutions, the analysis focuses on the major...

This paper surveys the state of fiscal federalism in India, in the broader context of decentralization. We begin with an overview of the basic features and recent developments in intergovernmental fiscal relations, including the role of political institutions, the specifics of legislative and...

National economy as a stand-alone entity, is a set of resources (natural, material, human, etc..), production activities, trade, service etc. that have established branches, sectors, etc. at a country’s level, between which are established reciprocal links which is based on the material and...

This paper sheds light on possible explanations for the success and sustainability of the piqueteros social movement in Argentina, developed from a comparative perspective based on Latin America. I show which institutional arrangements, political actors, and configurations of power contributed...

This article examines recent and potential reforms in India’s fiscal federal system. We summarize key federal institutions in India, including tax and expenditure assignments, and mechanisms for Center-state transfers. We discuss the institutional process by which reforms can and do take...

The paper intends to draw a possible framework for evaluating the performance of the administration at the central government level. We propose a simple pool-data model in which we tried to make a connection between main macroeconomic variables that are in part the result of government actions...