Using panel data models, we analyze the flypaper effects-whether intergovernmental fiscal transfers or states' own income determine expenditure commitments - on ecological fiscal spending in India. The econometric results show that the unconditional fiscal transfers, rather than the states' own...

There are several widely used benchmark models of the long-term interest rate in quantitative finance. However, these models have yet to incorporate Keynes's valuable insights about interest rate dynamics. The Keynesian approach to interest rate dynamics can be readily incorporated in the...

This paper points out the limitations of the privatization program in Bangladesh, with particular reference to the debt-default status of privatized firms. Firstly, detailed analysis of the debt-default status of privatized firms is presented using data obtained from the central bank. Secondly,...