Since 1991, the Government of India has been pursuing a program of structural reforms aimed at stabilizing the economy and promoting reliance on market mechanisms. Bengal Initiative for BIMSTEC (Multi Sectoral Technical and Economic Cooperation) is one of many regional trade agreements that...

Two of the most prominent Japanese corporate governance scholars, Professors Miwa and Ramseyer (‘M&R'), have recently published numerous articles and a book setting out their contrarian free-market theory of Japanese corporate governance. According to their theory, contemporary Japanese...

Resource utilisation, or “slack”, is widely held to be an important determinant of inflation dynamics. As the world has become more globalised in recent decades, some have argued that the relevant concept of slack should be global rather than domestic (the “global slack hypothesis”)....

While to an economist, business person or policy maker, movement of goods, services and foreign direct investment should logically be covered in the same agreement, history has not allowed this to happen. International legal regimes are spinning into greater fragmentation as the number of...

This paper provides evidence on the impact of internal finance constraints, growth opportunities and debt overhang on the firm-level investment in 14 Asian countries over the period of 1990-2010. We used Panel smooth transition regression (PSTR) that allows for time-varying effects through the...

Russia has seen even higher oil windfall in the past few months, which translates into likely fiscal surpluses 2011 and 2012. The government should not miss the opportunity provided by a large oil windfall to substantially improve its long-term fiscal position, further reduce inflation, and,...

Historically, the Indian textiles and clothing industry has comparative advantage in production and exports which could not be fully utilized because of quantitative restrictions imposed by her major export markets such as USA and European Union. It was therefore, envisaged that with the...

What is the current state of sovereign credit risk across Euro zone? Does the recent fiscal crisis extend to other (non Euro zone) countries? Is Greece the center of the problem? How did the current fiscal crisis in the Euro area start? Who is behind it? Why can it evolve? How can it be...

The textiles and clothing sector involves most unskilled labour-intensive activities, requires minimal training but offers the most employment opportunities as compared to any other manufacturing sector. In the area of international trade, exports from this sector have played a very crucial role...

China and India are the two major gainers from the removal of quotas on textiles and clothing with phasing out of Multifibre Arrangement (MFA) with effect from Jan. 1, 2005. However, to reap the maximum benefits of the new quota free regime and to sustain the growth in this sector it is...