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2. Place-based policies and agglomeration economies: Firm-level evidence from Special Economic Zones in India
- Author:
- Holger Görg and Alina Mulyukova
- Publication Date:
- 03-2022
- Content Type:
- Working Paper
- Institution:
- Kiel Institute for the World Economy (IfW)
- Abstract:
- This paper exploits time and geographic variation in the adoption of Special Economic Zones in India to assess the direct and spillover effects of the program. We combine geocoded firm-level data and geocoded SEZs using a concentric ring approach, thus creating a novel dataset of firms with their assigned SEZ status. To overcome the selection bias we employ inverse probability weighting with time-varying covariates in a difference-in-differences framework. Our analysis yields that conditional on controlling for initial selection, SEZs induced no further productivity gains for within SEZ firms, on average. This effect is predominantly driven by relatively less productive firms, whereas more productive firms experienced significant productivity gains. However, SEZs created negative externalities for firms in the vicinity which attenuate with distance. Neighbouring domestic firms, large firms, manufacturing firms and non-importer firms are the main losers of the program. Evidence points at the diversion of inputs from non-SEZ to SEZ-firms as a potential mechanism.
- Topic:
- Economics, Business, Special Economic Zones, and Geography
- Political Geography:
- India and Asia
3. Economic Security in Emerging Markets: A Look at India, Vietnam, and Indonesia
- Author:
- Matthew Goodman, Matthew Reynolds, and Julianne Fittipaldi
- Publication Date:
- 05-2022
- Content Type:
- Policy Brief
- Institution:
- Center for Strategic and International Studies
- Abstract:
- With the outbreak of the Covid-19 pandemic, supply chain resilience has emerged as a policy priority of the United States and its allies. The issue of supply chains has also raised the profile of emerging economies that offer possible alternatives to China as production platforms for multinational firms. This report surveys economic security policy developments in three major emerging economies: India, Vietnam, and Indonesia. It finds that all are attempting to take advantage of this new focus on supply chain resilience, while (to varying degrees) balancing the economic security risks posed by China’s rise. The United States and its allies have an opportunity to work with these emerging economies to shape their decisions about trade, investment, and technology policies in ways that promote mutual economic security and enhance international economic rules and norms.
- Topic:
- Security, Economics, Emerging Markets, International Trade and Finance, and Markets
- Political Geography:
- Indonesia, India, Asia, Vietnam, and Asia-Pacific
4. An Analysis on India's Foreign Economic Relations and Its Implications for Korea-India Cooperation
- Author:
- Jeeyon Janet Kim, Hyoungmin Han, Hyeyoon Keum, and Jonghun Pek
- Publication Date:
- 03-2022
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- Economic exchanges between Korea and India have been expanding since the signing of the Korea-India CEPA, which took effect in 2010, and the promotion of the New Southern Policy (NSP) by Korea, but the level of exchange still remains insufficient considering the potential of the two countries. We aim to contribute to deepening Korea-India trade cooperation by analyzing India's foreign trade investment relations. Part II and III examine India's recent trade and investment structure with major countries including Korea, and Part IV analyzes India's status on the global production networks. In conclusion, Part V presents various implications for Korea-India trade cooperation.
- Topic:
- Foreign Policy, Economics, International Cooperation, Bilateral Relations, and Trade
- Political Geography:
- South Asia, India, Asia, and South Korea
5. The Indian Farmer Makes Her Voice Heard
- Author:
- Sandeep Kandikuppa and Pallavi Gupta
- Publication Date:
- 12-2022
- Content Type:
- Special Report
- Institution:
- East-West Center
- Abstract:
- In August 2020, thousands of farmers, mostly from Punjab, Haryana, and western Uttar Pradesh, gathered on the outskirts of India’s national capital, New Delhi, to protest the passage of three controversial “farm laws” perceived by these farmers as threats to their livelihoods and well-being. Though the farm laws would affect only a small percentage of India’s farmers, over the next 16 months the protests attracted participation from across the country, cutting across class, caste, gender, and religious identities. While the proximate driver seemed to be the farmers’ fear of losing legal protections against a collapse in the market price of their produce, broader economic, ecological, and social factors helped trigger the movement. The protestors employed several strategies that made their movement successful enough in pushing back against a hugely popular government to bring about a repeal of the laws the farmers objected to.
- Topic:
- Agriculture, Economics, Women, and Protests
- Political Geography:
- South Asia and India
6. A Model Comprehensive MSME Policy for Indian States
- Author:
- Richard M. Rossow
- Publication Date:
- 11-2022
- Content Type:
- Special Report
- Institution:
- Center for Strategic and International Studies
- Abstract:
- Small businesses are the job-creating engines of any healthy economy. Having a supportive policy environment can help high-potential businesses accelerate. Creating such an environment is a shared responsibility of both the central government and India’s 28 states. Many state governments in India have piecemeal policies and programs to support micro, small, and medium enterprises (MSMEs). About one-third of India’s states have worked to craft multifaceted and supportive policies and practices to encourage MSME growth. This paper reviews the ideas already enacted in different Indian states, as well as in national and subnational governments around the world. Developing a single comprehensive MSME policy is an effective approach for a state-level government to consider. It allows small firms to find policy incentives and programs in a single place, and perhaps most importantly, it allows a state to directly consider a range of intertwined incentives that can work together. This will maximize the positive impact to small firms that are poised for growth. Facilitating the growth of MSMEs will have a much wider impact on India’s job growth overall. The large multinational manufacturers that India hopes to lure to invest through programs like Make in India require a diverse and efficient network of suppliers. Supporting MSME growth can create a multiplier effect—driving new investment and employment generation by larger firms. The central government has affirmed a 25 percent target of gross domestic product (GDP) for manufacturing, up from around 14 percent today. This white paper provides leading international examples in the promotion of small businesses, while also enumerating best practices from Indian states’ MSME policies. The final section lays out the 30 elements commonly utilized by Indian states to offer targeted assistance to MSMEs as a roadmap for other states that want to provide best-in-class policy interventions.
- Topic:
- Development, Economics, Business, and Job Creation
- Political Geography:
- India and Asia
7. Beyond India’s Lockdown: PMGKY Benefits During the COVID-19 Crisis and the State of Digital Payments
- Author:
- Alan Gelb, Anurodh Giri, Anit Mukherjee, Ritesh Rautela, Mitul Thapliyal, and Brian Webster
- Publication Date:
- 04-2022
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- India imposed a lock-down in response to the COVID-19 pandemic in March 2020 and began a gradual re-opening in June. A telephonic survey in April examined the early effectiveness of information and the massive PMGKY social protection program (Policy Paper 217). This paper analyzes a second-round survey, conducted six months later. Logistical and information constraints had relaxed, and incomes and jobs had begun to stabilize for some. There were not strong indications of differential access to benefits by income or location, but constraints to providing public employment had tightened in the face of increased demand, resulting in greater job rationing. Men made more use of digital channels, with a clear smartphone ownership hierarchy between men and women; this divide carried over into the growing autonomous use of digital payments which is conditioned on access to smartphones. Survey results confirm strong local agglomeration effects in digital payments, mirroring the general pattern with higher use in states hosting India’s major technology hubs. At the same time, trust-based concerns reduced the use of assisted digital cash-outs through agents.
- Topic:
- Economics, Pandemic, COVID-19, and Digitalization
- Political Geography:
- India and Asia
8. Assessing the economic, societal and cultural impact of YouTube in India
- Author:
- Oxford Economics
- Publication Date:
- 03-2022
- Content Type:
- Working Paper
- Institution:
- Oxford Economics
- Abstract:
- Recent research by Oxford Economics suggests YouTube contributed 6,800 Cr to the Indian economy in 2020 and supported 6,83,900 jobs. But its impact goes further, bringing a rich array of economic, cultural and societal benefits to India. YouTube generates substantial revenue for creators, artists, and media companies, who in turn support a broad ecosystem of employees and businesses in India. Creators deliver a wealth of educational tools and materials, which are valued by students, parents, and teachers alike.
- Topic:
- Economics, Mass Media, Social Media, and YouTube
- Political Geography:
- India and Asia
9. Dealing with Coronavirus Pandemic in the Bay of Bengal Region
- Author:
- Prabir De
- Publication Date:
- 05-2021
- Content Type:
- Special Report
- Institution:
- East-West Center
- Abstract:
- The coronavirus has had a devastating impact on the health and economies of countries in the Bay of Bengal. India, Bangladesh, and Nepal are the region’s most affected countries in terms of COVID-19 cases and deaths, followed by Myanmar, Sri Lanka, and Thailand. It seems that Bhutan and Thailand, the least affected countries in the region, have successfully escaped the brunt of the pandemic. All these countries implemented strict lockdowns as early as March 2020, and the region’s recovery rates have been relatively high. However, the devastation from the pandemic did not reach its peak until after the lifting of lockdowns. The economic costs of the pandemic have soared and are still climbing. Today, most Bay of Bengal countries are facing a second or third wave of COVID-19 infections. India has been badly hit by a huge second Coronavirus wave, registered daily cases over 400,000 since Aril 2021. The damage being done by these additional waves is more intense than their predecessors. The Bay of Bengal countries are now looking for COVID-19 vaccines. India serves as the region’s primary producer of immunizations. Two Indian pharmaceutical companies have launched vaccines, with five more firms in the race to launch their own treatments. When vaccines are developed in India, they are easier to distribute across the region. In terms of availability, accessibility, and affordability, India’s vaccines are better suited to the needs of the region. In recent months, India has successfully supplied over 18 million doses of COVID-19 vaccines to many Bay of Bengal countries, with Thailand being a notable exception. India has also ensured more supply of the vaccines in the neighborhood.
- Topic:
- Economics, Health, Pandemic, and COVID-19
- Political Geography:
- Bangladesh, South Asia, India, Nepal, Thailand, Bhutan, and Bay of Bengal
10. Mapping Religion, Space, and Economic Outcomes in Indian Cities
- Author:
- Sripad Motiram and Vamsi Valuabharanam
- Publication Date:
- 08-2021
- Content Type:
- Working Paper
- Institution:
- Political Economy Research Institute (PERI), University of Massachusetts Amherst
- Abstract:
- We deploy a socio-spatial approach and use a spatially representative survey that we conducted in Hyderabad and Mumbai to analyze the relation between city space and religion. After documenting the relative status of religious groups in urban India and different types of cities using secondary databases, we identify poor-ghettos and elite-enclaves in Hyderabad and Mumbai. In both cities, ghettos have a high proportion of Muslims, while enclaves are dominated by non-Muslim inhabitants. Ghettoization of Muslims is far more pronounced in Hyderabad than in Mumbai. A key finding on the relation between city space and religion is that compared to segregated neighborhoods, mixed (“grayer”) neighborhoods produce better economic outcomes like lower poverty. We argue that while Indian cities are becoming less integrated along religious lines over the last 3-4 decades, this process is far from complete, and needs to be reversed.
- Topic:
- Economics, Religion, Space, and Cities
- Political Geography:
- South Asia and India