The study examines the nexus between financial development and economic growth in India during Q1: 1996 to Q3: 2018. This study employs time-series data of real GDP and ratio of broad money to GDP as a proxy for economic and financial development, respectively. The data are obtained from RBI database on the Indian economy. All variables are seasonally adjusted using X12-arima technique and expressed in natural logarithm form. Non-linear Autoregressive Distributed Lag (NARDL) bound test has been used to check for cointegrating relationship of these two variables. Empirical findings suggest that, unlike in the short run, in the long run financial development does impact economic growth positively. Further, a symmetric effect of positive and negative components of financial development is found for the Indian economy, whereas the effect of control variable like exchange rate and trade openness is in consonance with common economic intuition. Exchange rate is in consonance with intuitive economic logic that a fall in exchange rate makes exports cheaper and increases the quantity of export, which improves the balance of payment and leads to a rise in aggregate demand, hence improves economic growth. This paper contributes to the existing literature on India by breaking down financial indicator into positive and negative components to examine the finance-growth relationship.
The present study seeks to examine the impact of microfinance and other socio-economic factors on women empowerment as viewed from their participation in decision making, income as well as employment generation activities. The findings of the study based on a field study conducted in two villages of Andhra Pradesh suggest that factors such as member and her husband's income, family size and frequency of Self help group meetings have overall positive influence on women empowerment. In case of income and employment generation activities, age and income of Self help group members, their household income and amount of loan are found to have positive effect.Jel Codes: D20; G34; L10
This study aims to analyse the effectiveness of the lockdown measure taken to control the transmission of COVID-19 in India by examining the peak of the epidemic pre and post the adoption of stringent lockdown from 25 March 2020. Susceptibleexposed-infectious-recovered (SEIR) model has been developed to trace the peak of the outbreak. The study suggests that with the implementation of lockdown the peak of epidemic in India has delayed by two and a half month. Before lockdown peak was examined in end of May 2020 but post lockdown, it is expected to arrive in mid-August 2020. Thus lockdown measures has delayed the arrival of peak of epidemic which would be helpful in preparing the healthcare system in advance, to tackle worst situation if arises in future.
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