Foreign direct investment (FDI) plays an important role in India's growth dynamics. There are several examples of the benefits of FDI in India. FDI in the retail sector can expand markets by reducing transaction and transformation costs of business through adoption of advanced supply chain and...

Emerging economies present the case of rapid changes in markets and institutions. In this context, joint ventures between multinational enterprises (MNEs) and local firms are subject to a gamut of calculations between the partners for arriving at mutually beneficial contractual arrangements. In...

Literature in economic development shows how countries diverge and converge in economic growth owing to technological change and capital accumulation. In this paper, I examine micro level divergence and convergence of best practices of firms within a broadly defined industry. Multinational...

The 2008 financial crisis of the US was a watershed for economics discipline, especially macroeconomics. Several world leaders such as the Queen of England questioned distinguished economists of Ivy league schools such as the London School of Economics on why they failed to see what was...

This report is part of a larger study to examine the role of higher education in India's success in providing globally traded services. In this report, we assess the quality of software engineering education. We find that the institutional structure has the capacity to produce a quality of...

Governance of economic and political activities both by private and public institutions is an important source of economic development apart from the conventional sources such as technological progress, capital accumulation and endowment of resources of a nation. China and India are the two...

Literature in economic development shows how countries diverge and converge in economic growth owing to technological change and capital accumulation. This paper examines micro-level issues of competitive rivalry of firms and consequent convergence of best practices. Multinational investment in...

Productivity is generally defined as the amount of output realised for a given level of inputs. The neo-classical growth theory considers productivity as a function of technology and capital accumulation. In this paper, I argue that apart from technology and capital, productivity depends on...

Institutional corruption is defined as an act by a public or a private agent that can be justifiable legally but still is corrupt. This arises out of missing institutions, laws and regulations. Furthermore, ability of powerful agents in influencing law making and implementing regulation can be a...

This article examines the public and private partnerships (PPPs) in investments in infrastructure of provision of public goods in India beset with institutional failures at several fronts. It draws insights from institutional (transaction costs) and information economics. The objective is to...