This article examines the controversy (concerning the relationship between private Abstract corporate investment and effective tax rates) between Feldstein (1982, 1987) and Chirinko (1987), with Indian data. The evidence supports the net rate of return model proposed by Feldstein but does not...

This article examines the role tax policy can play in fostering human capital accumulation in a resource-constrained dual economy whose population is growing. The study shows how human capital accumulation, in turn, affects the intersectoral terms of trade and the economic growth process of such...

If public expenditure and public revenue are I (0), public debt is sustainable, but if these are I (1) and not cointegrated or have a cointegrating vector different from [1, -1], the public debt is said to be unsustainable. Extant work indicates that India’s public debt is unsustainable. The...