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1. India’s Regulatory Shift: An Examination of Five Agencies of the Post- Liberalisation Era

Author:
Arkaja Singh
Publication Date:
02-2023
Content Type:
Working Paper
Institution:
Centre for Policy Research, India
Abstract:
This paper explores the design of Indian regulatory agencies established post-liberalisation from an administrative perspective. Regulatory agencies were set up to replace state inefficiencies, and to discipline profligate state agencies, even as much as they were a response to state-market reorganisations and the challenge of privatization. Regulation provided an opportunity for upper levels of the Indian bureaucratic state to recast their power, with the idea that it would provide a framework for economic rationality, independence and technical specialization to take centre-stage. In actual practice however, the design of each of the regulatory agencies is shaped largely by pre-existing legal frameworks and institutions, and the agencies have remained quite tied in with their counterpart departments and on retired bureaucrats. However, in spite of these limitations, these agencies have some common features imbued by legislative mandate and organisational design which are unique in the context of the Indian state. They have focus and stability, a degree of functional independence, and most importantly, a concentration of power, which enables them to think through and implement complex policy transitions from multi-year and context-specific perspectives. The paper builds on learnings from a series of conversations with regulatory agency chairpersons in order to identify what regulatory governance is, in terms of the powers and mandate of the regulatory agencies and what makes them distinctive from the rest of public administration.
Topic:
Markets, Governance, Regulation, Bureaucracy, and Liberalization
Political Geography:
South Asia and India

2. Petro Dollar. Petro Yuan. Petro Rupee?

Author:
Amit Bhandari
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Gateway House: Indian Council on Global Relations
Abstract:
Over the last two decades, every component of the global energy scenario has changed: demand, supply and energy-type. The only constant has been the U.S. Dollar as the currency of energy trade. Lately, the Chinese Yuan has emerged to challenge the Dollar. Can the Indian Rupee be a third player? India is now the world’s third-largest consumer and second-largest importer of energy. Its open market, transparent regulation and growing demand give it an opportunity to become the hub of a vibrant new oil market, simultaneously ensuring its energy security and raising the international profile of the Rupee. This paper explores the possibility the Rupee could be the third currency in which energy is traded, and the challenges and opportunities it presents.
Topic:
Security, Energy Policy, Markets, Oil, Currency, and Trade
Political Geography:
China, South Asia, India, Asia, North America, and United States of America

3. The Socially Responsible Company as a Strategic Second-order Observer: An Indian Case.

Author:
Damien Krichewsky
Publication Date:
07-2014
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The emergence of Corporate Social Responsibility (CSR) as a global component of business-society relationships has triggered many controversial debates in which CSR is either advocated as a source of virtuous business or disregarded as mere “window dressing.” This paper proposes an alternative perspective on the CSR phenomenon based on N. Luhmann’s social systems theory, which guides a study of CSR in India combining macroscopic observations and the case of the cement manufacturer Lafarge India. The study shows that CSR is not primarily constituted of corporate attempts to “do well by doing good,” as the CSR doxa suggests. However, the phenomenon generates significant transformations of business-society relationships. While increasing financial expectations tend to blunt large companies’ sensitivity toward competing societal expectations, other social systems react with protest movements and political interventions. Companies respond to the perceived threat of these uncertainties by introducing new CSR-related organizational structures, which improve their ability to observe the uncertainties as parameters of economic risks. Companies subsequently mobilize calculated CSR-related practices to shield business opportunities from the possible negative consequences of sociopolitical constraints. The analytical framework outlined in the present paper introduces new angles for studying how the CSR phenomenon proceeds from and transforms the way social systems observe and regulate the role of companies in society.
Topic:
Economics, Markets, Politics, Sociology, and Business
Political Geography:
India

4. The State-owned Enterprises Issue in China's Prospective Trade Negotiations

Author:
John Whalley and Hejing Chen
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
China, in the next few years, faces the prospect of major regional and bilateral trade negotiations possibly including the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership with the Association of Southeast Asian Nations (ASEAN) and Japan, Korea, India, Australia and New Zealand and separate negotiations with India, Korea and Japan, potentially the United States and even possibly the European Union. A likely key element in such negotiations, and one already raised by the United States in the TPP negotiations, is that of trade arrangements involving state-owned enterprises (SOEs). China is viewed from outside as having a large SOE sector, and large SOEs are viewed as having a protected monopoly position in domestic Chinese markets.
Topic:
International Trade and Finance, Markets, and World Trade Organization
Political Geography:
Japan, China, Europe, India, Asia, Australia, and Korea

5. Freeing the Global Market: How to Boost the Economy by Curbing Regulatory Distortions

Author:
Shanker A. Singham
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The U.S. economy faces major challenges competing internationally. One of the most worrisome is the growing use in China and other advanced developing countries of anticompetitive market distortions (ACMDs)—including regulatory protection that privileges specific companies—which put foreign competitors at a disadvantage. ACMDs are government actions that give certain business interests artificial competitive advantages over their rivals, be they foreign or domestic, to the detriment of consumer welfare. These market distortions are especially damaging to the industries in which the United States enjoys the greatest comparative advantages, but they are also harmful to the long-term prosperity of developing economies and cost the global economy trillions of dollars. To combat ACMDs, the conventional trade policy approach of focusing on the The U.S. economy faces major challenges competing internationally. One of the most worrisome is the growing use in China and other advanced developing countries of anticompetitive market distortions (ACMDs)—including regulatory protection that privileges specific companies—which put foreign competitors at a disadvantage.1 ACMDs are government actions that give certain business interests artificial competitive advantages over their rivals, be they foreign or domestic, to the detriment of consumer welfare. These market distortions are especially damaging to the industries in which the United States enjoys the greatest comparative advantages, but they are also harmful to the long-term prosperity of developing economies and cost the global economy trillions of dollars.
Topic:
Economics, Emerging Markets, Globalization, International Trade and Finance, and Markets
Political Geography:
Russia, United States, China, India, and Brazil

6. Retail 2022: How the Economist Intelligence Unit sees the retail landscape changing over the next decade

Publication Date:
11-2012
Content Type:
Working Paper
Institution:
Economist Intelligence Unit
Abstract:
Markets of the future—China, India, Brazil and Russia—will become the dominant retail markets l Africa, the final frontier—as BRIC opportunities diminish retailers will look to Africa as a driver of growth l Virtual marketplace— e-commerce, m-commerce and s-commerce—will transform the global retail landscape l Bricks and mortar will fight back as traditional retailers respond to change by integrating online with physical store offerings l Convenience will be king as shopping habits evolve into a multichannel approach rather than “one-stop shopping” l UK focus: polarised shopping habits could continue even when incomes recover, leading to an even greater squeeze on mid-market retail by 2022.
Topic:
Economics, Emerging Markets, International Trade and Finance, Markets, Science and Technology, and Communications
Political Geography:
Russia, China, United Kingdom, India, and Brazil

7. Can Producer Associations Make Agriculture Sustainable? Evidence from Farmer Development Centers in India

Author:
Raj M. Desai and Shareen Joshi
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
This paper evaluates the impact of the Self- Employed Women's Association's (SEWA) farmer development center (FDC) initiative across five farming districts in Gujarat, India. The initiative provided a mix of training, information provisions, access to farming inputs, risk mitigation, and output. Controlling for a range of individual-specific, household, and village level factors, we find that SEWA membership primarily raised awareness of available opportunities among its participants, linked women to the financial sector and to diversified employment opportunities, including non-farm work. There is also evidence that the program's impact varied depending on the participants' socio-economic background. The poorest members experienced higher farm and non-farm incomes, increased food consumption, improved household and farm productivity, more self-employment opportunities, a greater likelihood of opening a bank account, higher crop harvests, and greater food security. These estimates suggest that the major comparative advantage of FDCs lies in improving access to credit and in expanding access to useful information.
Topic:
Agriculture, Development, Economics, International Trade and Finance, and Markets
Political Geography:
India and Gujarat

8. Rising Democracies and the Arab Awakening: Implications for Global Democracy and Human Rights

Author:
Ted Piccone and Emily Alinikoff
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Center on International Cooperation
Abstract:
As the emerging global order takes shape, debate is growing more intense around the trajectory of the rising powers and what their ascendency to positions of regional and international influence means for the United States, its traditional allies, and global governance more broadly. Commentary about these rising powers— often referred to in a generic way as the BRICS (Brazil, Russia, India, China, South Africa) but actually encompassing a dozen or so countries largely represented in the G-20—ranges from alarmist to sanguine. Pessimists argue that China, with its impressive economic growth and increasingly global reach, is well-positioned to challenge the United States' role of global superpower and to weaken the commitment of other rising powers, and various international organizations, to liberal values. More optimistic analysts insist that the rise of middle powers, most of which are democracies of varying stripes, bodes well for the world: millions are being lifted out of poverty, rule of law is taking hold and the international system is bound to be a more inclusive, representative one.
Topic:
Democratization, Development, Economics, Globalization, Human Rights, International Trade and Finance, Markets, Poverty, and Governance
Political Geography:
Russia, United States, China, India, South Africa, Brazil, and Arabia

9. Inward FDI in Israel and its policy context

Author:
Yair Aharoni
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
In the first four decades of its existence, Israel was not successful in attracting inward foreign direct investment (IFDI) despite attempts to do so. In the past two decades, Israel have become a haven for multinational enterprises (MNEs) that have taken advantage of its unique assets – among them a skilled, educated workforce and cutting-edge research-and-development (R) capabilities – by establishing production lines or R centers and acquiring dozens of successful start ups. Israel's IFDI stock sharply increased from US$ 4.5 billion in 1990 to US$ 71.3 billion in 2009. It is expected that IFDI will further accelerate following Israel's accession to the OECD in May 2010 and as more firms from emerging market economies, including China and India, will come to appreciate its characteristics as an ideal locational choice. Israel also weathered the global economic crisis well, even though IFDI declined sharply. Israel actively encourages IFDI, mainly in high technology areas. In 2010, the Government also created special incentives to attract research centers of financial institutions.
Topic:
Economics, Markets, Foreign Direct Investment, and Financial Crisis
Political Geography:
China, Middle East, India, and Israel

10. Global Energy Markets in a Time of Political Change

Author:
Bill White
Publication Date:
10-2011
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
A shift in relative energy consumption among regions and the development of new, unconventional supplies will be the most significant changes over the next twenty years. The dominant fuels in the world energy market until 2030 will continue to be hydrocarbons — oil, coal, and natural gas. Major shifts will occur, however, among the three fuels, among regions and in their supply. Globally, oil will continue to be the most widely used fuel as it supplies more than 90 percent of the energy for transportation. Coal, now the dominant fuel used for electric power generation, will lose ground to natural gas, a less carbon-intensive hydrocarbon. Natural gas will become the second largest overall supplier and well positioned to replace coal as the leading supplier for electric power. Developing countries will lead the way in overall energy growth, with Chinese and Indian energy demand growing fastest. Energy demand in developed countries will remain flat. For the United States, growth in gas shale and oil shale are likely to be “game changers,” altering the supply picture dramatically.
Topic:
Climate Change, Energy Policy, Environment, Markets, Political Economy, and Natural Resources
Political Geography:
United States, China, and India