The main objective of the paper is to estimate the dynamic interrelation among the macroeconomic variables viz., real output, money, price, interest rate and exchange rate using monthly data for India covering the period from 1991:1 to 2007:12 using ARDL approach to cointegration. The bounds...

As India tries to maintain a healthy balance between its social welfare obligations and its economic policies contrary to Wagner and Keynes propositions concerning the causal relationship between national income and public expenditure, it becomes important to understand the causal relationship...

Savings and growth are often strongly correlated. Thus, it is important to study the determinants of savings and the direction of causality between savings and growth as these have important implications for development policy. Yet, careful empirical studies on savings behavior are missing for...

The author develops a theory of the choice of contractual arrangements in agriculture by analyzing the incentives, risk-premia, and agency (supervision and shirking) costs under different contracts using the principal-agent framework. The theory is able to explain many tenancy-related issues,...

Savings behaviour is important because of the close relation between savings and growth. Thus this paper presents individual country analysis of the savings behaviour in five main South Asian countries, namely India, Pakistan, Bangladesh, Sri Lanka and Nepal, using modern time series procedures....

Although there has been much theorising on the impact of Indias economic reforms of 1991 on Indian manufacturers, there is hardly any previous study that has taken up the task of actually asking the manufacturing firms as to what the true impact of economic reforms has been on them. In this...