The tendency to substitute domestic for foreign currency (as a way of holding wealth and a means of transaction for goods and services) is common throughout the world, and particularly so in countries attempting to overcome thin financial institutions or errant monetary policy. This paper uses...

Not available

Foreign aid in Papua New Guinea (PNG) has been heavily criticised on the grounds that it has undermined incentives for domestic revenue collection, encouraged irresponsible expenditure behaviour and high levels of public debt, and contributed to the poor composition of government spending...

This paper examines industrialisation experience in Sri Lanka following the market-oriented policy reforms initiated in 1977, with emphasis on the complementarity of trade and foreign direct investment (FDI) policies in shaping the reform outcome. It is found that the reforms helped to transform...

This paper presents an analysis of the current status of the Indian coal sector, which is poised for major changes with liberalisation and privatisation of the Indian economy, and critically analyses some policy issues. The state-owned Coal India Limited has been ailed by economic problems and...

The principal objective of this study is to test whether public expenditures on education, health and other development activities have been effective in reducing poverty in India. To ensure sensitivity and robustness of the results, three different measures of poverty belonging to the...

Radical economic reform programs initiated in India have led to a sharp rise in the trend rate of growth for India's economy. The rapid economic growth and socio-economic developments in India have boosted the country's consumption of many goods and services, including paper and paperboard. As...

In India, the pace of financial innovation was relatively slow until the initiation of the financial liberalization program in 1991-92. The subsequent financial reforms have had important implications for the user costs of assets and resulted in significant substitution among them. Hence there...

The fragility of livelihoods and hence the vulnerability of consumption growth due to aggregate shocks in the Indian rural sector have been highlighted recently. However, as yet there exist no estimates of the vulnerability of consumption growth in rural India. This paper attempts to fill this...