Some blame free-market capitalism for increasing income inequality, arguing that the richer classes could block access to others for maintaining their privileges. By manipulating the degree of political rights and resources available to others, the rich could reduce opportunities for others....

Do ethno-linguistic divisions in a country hamper the implementation of IMF-supported programs? We construct a new measure of implementation and compliance with IMF programs approved during the 1992-2014 period covering 104 countries. Using several measures of diversity, we find that higher...

Do national strategic interests influence how countries respond to a global health crisis? We answer this question in the context of China’s FDI flows into host countries under the Belt and Road Initiative (BRI) and China’s COVID-19 vaccine distribution. Employing a newly available dataset...

A wide variety of financial markets have been characterized by the growth in securitization during the past twenty years as numerous advantages accrue from holding financial assets in securitized rather than whole loan form.Over the last decade securitization has migrated from the United Sates...

We empirically assess the determinants of India’s FDI outflows across a large sample of host countries in the 1996-2009 period. Based on gravity model specifications, we employ Poisson pseudo maximum likelihood (PPML) estimators. Major findings include: India’s outward FDI is hardly affected...

The large share of politicians facing criminal accusations in India has sparked a public debate and an emerging literature that assesses its causes and effects. We develop a model of the incentives faced by members of parliament when deciding whether to engage in effort for their constituency to...

It is puzzling that India, which has a large domestic constituency of people suffering from underdevelopment, chronic poverty and mal-governance, is emerging as an important aid donor. With the intension of understanding why poor countries provide foreign aid, this article is the first to...

A vast number of studies addressed the environmental degradation and economic development but not financial development. Moreover, as argued by Stern [2004. The rise and fall of the environmental Kuznets curve. World Development 32, 1419-1439] they present important econometric weaknesses. Using...

Whether timing of the elections leads to riots or not within India. In other words, does timing of elections instigate riots? Using time series crosssectional data for 16 major Indian states for the period 1958 – 2004, it is found that scheduled elections are associated with increase in riots

The relationship between globalization and economic growth in the developing countries remains controversial. Liberals argue that globalization will lead to higher economic growth and prosperity. Skeptics contend the opposite, where globalization processes might lead to increased inequality and...