{"title":"Determinants of Microfinance Outreach in India: Empirical Evidence","authors":"S. Saravanan, K. Shanmugam","doi":"10.3790/AEQ.66.2.165","DOIUrl":"https://doi.org/10.3790/AEQ.66.2.165","url":null,"abstract":"\u0000 Using a panel data on the Microfinance-Bank Linkage Program (2008–2015), this paper examines the determinants of the program’s outreach. The results indicate that microfinance outreach has not been a key indicator for addressing economic and social issues. The study underscores that the program favors income-rich rather than poor states: the average loan is correlated with higher per capita income and high economic growth at the state level. Literacy, NPA, and bank ownership also matter in determining microfinance outreach.","PeriodicalId":36978,"journal":{"name":"Applied Economics Quarterly","volume":"66 1","pages":"165-178"},"PeriodicalIF":0.0,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47892236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Are Member States’ Budgetary Policies Adhering to the EU Fiscal Rules?","authors":"D. Cronin","doi":"10.3790/AEQ.66.1.47","DOIUrl":"https://doi.org/10.3790/AEQ.66.1.47","url":null,"abstract":"Harmonised data from the 2013 to 2018 Stability and Convergence Programmes (SCPs) are used to assess whether member states are acting to meet EU fiscal requirements and, in particular, their medium-term objectives (MTOs). EU AMECO data are employed to check whether planned fiscal policy, set out in the SCPs, materialises ex-post. The main finding is that planned changes in the fiscal stance aim towards meeting the MTO when that target has not yet been attained but less effort occurs in practice. Member states who have already met their MTO loosen their fiscal stance. The policy message is that, in general, the enhanced, post-crisis EU fiscal framework is delivering budgetary policy that contributes to avoiding excessive deficit and debt positions. The fiscal consolidation actually undertaken, however, is less than planned and the upside of the economic cycle does not see greater effort towards meeting MTOs. Moreover, those member states with prior excessive deficits do not make, nor plan, any additional fiscal effort over other member states also striving to meet their MTO. The policy reaction to the economic cycle is pro-cyclical in nature.","PeriodicalId":36978,"journal":{"name":"Applied Economics Quarterly","volume":"66 1","pages":"47-64"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70168567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Price Bargaining and the Business Cycle","authors":"Dennis Wesselbaum","doi":"10.3790/AEQ.66.1.1","DOIUrl":"https://doi.org/10.3790/AEQ.66.1.1","url":null,"abstract":"This paper models a segmented production sector with price bargaining between the intermediate good firm and the final good firm. We show how to incorporate price bargaining in an otherwise standard New Keynesian model and discuss its macroeconomic implications. Estimating the model on U.S. data using Bayesian methods, we find that the intermediate good firm has 50 percent of the bargaining power. We find that the size of the bargaining power determines the quantitative and qualitative macroeconomic effects. -- Further, we quantify the size of switching costs: they are equal to about two percent of output. Shocks to switching costs are specific to this model and generate sizable macroeconomic fluctuations.","PeriodicalId":36978,"journal":{"name":"Applied Economics Quarterly","volume":"66 1","pages":"1-27"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70168507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does Informality Hold the Key to Growth and Stability?","authors":"Meghna Dutta","doi":"10.3790/AEQ.66.1.29","DOIUrl":"https://doi.org/10.3790/AEQ.66.1.29","url":null,"abstract":"This paper attempts to analyse the impact of a prevailing informal sector on the dynamics of growth and inflation in developing economies. The high growth rates posited by most developing economies in the presence of a huge informal sector suggest that this sector might not be the malefactor as often indicated. The main results show that the informal economy not only contributes to economic growth but the firms also help to significantly reduce inflation by generating employment and hence maintain political stability in the economy despite the existence of a huge pool of “surplus labourers”.","PeriodicalId":36978,"journal":{"name":"Applied Economics Quarterly","volume":"66 1","pages":"29-45"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70168519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Review of Wagner’s Law with Disaggregated Data for Spain","authors":"Manuel Jaén-García","doi":"10.3790/AEQ.66.1.65","DOIUrl":"https://doi.org/10.3790/AEQ.66.1.65","url":null,"abstract":"Wagner’s Law has been widely tested using empirical analysis, yet very few studies have conducted this analysis using disaggregated data over an extended period of time. This study examines the economic classification of public spending (COFOG) in Spain for the period 1958 – 2015. Our findings confirm previous results in the sense that the law is not rejected for public spending as a whole. Furthermore, our results reveal that social aid and current transfers can be considered as luxury goods as their demand grows more than proportionally when income rises. Our findings also confirm the results of other studies in which education, healthcare and social aid all fail to reject Wagner’s Law. The study provides two important contributions to the literature. First, the study considers a substantially long time period to examine the relationship between different categories of public spending and economic growth. This type of analysis has been carried out on occasion for other economies but never for the Spanish case. Second, our study uses the methodology of unit roots and cointegration with structural breaks, representing an innovation in this field.","PeriodicalId":36978,"journal":{"name":"Applied Economics Quarterly","volume":"66 1","pages":"65-92"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70168720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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