{"title":"Who Rewards Farmers Better for Commercialisation? Public versus Private Contracting Firms in North India","authors":"Saroj Verma, P. Jena","doi":"10.1177/00194662241227597","DOIUrl":"https://doi.org/10.1177/00194662241227597","url":null,"abstract":"This article explores the socioeconomic factors of wheat growers’ participation intensity in contract farming (CF) under both public and private firms in Haryana. Using the primary survey data of 754 wheat growers collected from two districts of Haryana, the study finds that CF participation intensity is higher under government corporations than in private firms. The Tobit regression results show that similar variables determine the participation intensity under both types of firms. But the perception of agricultural profitability has different significant signs for public and private firms. This difference in profitability perception spawns from the different contracting nature of both types of firms. The government firms directly contact farmers, while private firms hire agents to communicate with farmers. In addition, government firms encourage marginal and small farmers to adopt CF, while private firms prefer medium to large farmers owning a minimum of five acres of cultivable land. Payment security is another reason for the intensity difference between types of firms. Therefore, the study calls for a policy framework to establish better institutional structure to strengthen CF inclusiveness, where both types of firms provide the scope for more extensive participation across the groups of farmers. JEL Codes: Q12, Q13, C01","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"5 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139782954","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":"Who Rewards Farmers Better for Commercialisation? Public versus Private Contracting Firms in North India","authors":"Saroj Verma, P. Jena","doi":"10.1177/00194662241227597","DOIUrl":"https://doi.org/10.1177/00194662241227597","url":null,"abstract":"This article explores the socioeconomic factors of wheat growers’ participation intensity in contract farming (CF) under both public and private firms in Haryana. Using the primary survey data of 754 wheat growers collected from two districts of Haryana, the study finds that CF participation intensity is higher under government corporations than in private firms. The Tobit regression results show that similar variables determine the participation intensity under both types of firms. But the perception of agricultural profitability has different significant signs for public and private firms. This difference in profitability perception spawns from the different contracting nature of both types of firms. The government firms directly contact farmers, while private firms hire agents to communicate with farmers. In addition, government firms encourage marginal and small farmers to adopt CF, while private firms prefer medium to large farmers owning a minimum of five acres of cultivable land. Payment security is another reason for the intensity difference between types of firms. Therefore, the study calls for a policy framework to establish better institutional structure to strengthen CF inclusiveness, where both types of firms provide the scope for more extensive participation across the groups of farmers. JEL Codes: Q12, Q13, C01","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"149 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139842843","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":"COVID-19, Economic Package and Indian Stock Market: An\u2028Event Analysis","authors":"Mahesh Dahal, Joy Das, Amit Sangma","doi":"10.1177/00194662231218596","DOIUrl":"https://doi.org/10.1177/00194662231218596","url":null,"abstract":"The present study is an attempt to analyse the behaviour of securities around the outbreak of the COVID-19 pandemic and the declaration of an economic package by the government of India. In this study, daily prices of securities constituting the BSE 100 index are considered as these securities are highly traded and their trading impact would immediately reflect on the index. To present a sector-specific analysis, the securities are further classified based on sectors and are analysed using the event study methodology. Average abnormal returns (AARs) and cumulative average abnormal returns (CAARs) for overall market and for each sector have been calculated and their significance have been tested using parametric T-statistics, standardised cross-sectional test and non-parametric sign test. Based on the analysis, the study concluded that it was not the pandemic but the actions towards controlling the pandemic that caused a negative impact on the Indian stock market. The economic package declared by the government of India to boost the economy also turned out to be futile and failed in achieving its objectives. Among the sectors, only the technology sector has been positively impacted by the pandemic. The outcome of the study would be beneficial to the trading community in identifying the sectors/securities that would act as hedging in the pandemic situations. JEL Codes: E44, G1, G14, G18","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"41 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139854963","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":"Agricultural Crisis, Farms Laws, and Farmers’ Protest: Reflection on its Rollback and Implication","authors":"Minaketan Behera","doi":"10.1177/00194662231223702","DOIUrl":"https://doi.org/10.1177/00194662231223702","url":null,"abstract":"Agriculture has been brought to the forefront of policymaking, parliamentary debate, and political discussions in recent history. India’s Parliament recently voted to scrap agricultural reform laws which came up as a huge victory for the farmers’ movement, who have been protesting for over a year for the rollback of the laws. This farmers’ movement created history at the national and international levels in the present times. The government had passed three farm laws to transform agriculture and increase farmer income without detailed consultations with all stakeholders. This led to protests by the farmer community by blocking roads and highways, calling an All-India Bandh, which attracted public attention and brought weight to the farmer issues, leading to achievement for the ‘Annadatas’ of the country. The article discusses the predicaments of the agriculture sector, the problems of the farmers, critical analysis of the three Farm laws, their implementation, implications and finally, its rollback. The reasons for this move have been examined from the political and economic angle with a reflection on its rollback for the future. JEL Codes: Q18, Q10, Q13, Q15","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"76 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139855463","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":"COVID-19, Economic Package and Indian Stock Market: An\u2028Event Analysis","authors":"Mahesh Dahal, Joy Das, Amit Sangma","doi":"10.1177/00194662231218596","DOIUrl":"https://doi.org/10.1177/00194662231218596","url":null,"abstract":"The present study is an attempt to analyse the behaviour of securities around the outbreak of the COVID-19 pandemic and the declaration of an economic package by the government of India. In this study, daily prices of securities constituting the BSE 100 index are considered as these securities are highly traded and their trading impact would immediately reflect on the index. To present a sector-specific analysis, the securities are further classified based on sectors and are analysed using the event study methodology. Average abnormal returns (AARs) and cumulative average abnormal returns (CAARs) for overall market and for each sector have been calculated and their significance have been tested using parametric T-statistics, standardised cross-sectional test and non-parametric sign test. Based on the analysis, the study concluded that it was not the pandemic but the actions towards controlling the pandemic that caused a negative impact on the Indian stock market. The economic package declared by the government of India to boost the economy also turned out to be futile and failed in achieving its objectives. Among the sectors, only the technology sector has been positively impacted by the pandemic. The outcome of the study would be beneficial to the trading community in identifying the sectors/securities that would act as hedging in the pandemic situations. JEL Codes: E44, G1, G14, G18","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"8 24","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139795121","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":"Agricultural Crisis, Farms Laws, and Farmers’ Protest: Reflection on its Rollback and Implication","authors":"Minaketan Behera","doi":"10.1177/00194662231223702","DOIUrl":"https://doi.org/10.1177/00194662231223702","url":null,"abstract":"Agriculture has been brought to the forefront of policymaking, parliamentary debate, and political discussions in recent history. India’s Parliament recently voted to scrap agricultural reform laws which came up as a huge victory for the farmers’ movement, who have been protesting for over a year for the rollback of the laws. This farmers’ movement created history at the national and international levels in the present times. The government had passed three farm laws to transform agriculture and increase farmer income without detailed consultations with all stakeholders. This led to protests by the farmer community by blocking roads and highways, calling an All-India Bandh, which attracted public attention and brought weight to the farmer issues, leading to achievement for the ‘Annadatas’ of the country. The article discusses the predicaments of the agriculture sector, the problems of the farmers, critical analysis of the three Farm laws, their implementation, implications and finally, its rollback. The reasons for this move have been examined from the political and economic angle with a reflection on its rollback for the future. JEL Codes: Q18, Q10, Q13, Q15","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"6 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139795576","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":"Impact of Foreign Aid on Economic Growth of Ethiopia","authors":"Girum Dagne","doi":"10.1177/00194662231213583","DOIUrl":"https://doi.org/10.1177/00194662231213583","url":null,"abstract":"This study examines the impact of foreign aid on growth in Ethiopia based on time series data from 1980 to 2019. This study uses Autoregressive distributed Lag and an Error Correction to determine the long- and short-run impacts of foreign aid on growth. The empirical results show that, in the long run, foreign aid has a negative and insignificant effect on real GDP growth. However, gross domestic savings, exports, and inflation exert positive and insignificant impacts on GDP growth. Furthermore, Human capital and gross consumption expenditure exert a positive and significant impact on GDP growth, and gross capital information has a negative and significant impact on GDP growth. Thus, Ethiopia’s national development policy should focus on the productive utilisation of domestic savings to increase GDP growth rather than depend on external capital inflow, which is uncertain even when donor countries face long recessions. JEL Codes: E1, E2, E3","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"4 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139798672","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":"Impact of Foreign Aid on Economic Growth of Ethiopia","authors":"Girum Dagne","doi":"10.1177/00194662231213583","DOIUrl":"https://doi.org/10.1177/00194662231213583","url":null,"abstract":"This study examines the impact of foreign aid on growth in Ethiopia based on time series data from 1980 to 2019. This study uses Autoregressive distributed Lag and an Error Correction to determine the long- and short-run impacts of foreign aid on growth. The empirical results show that, in the long run, foreign aid has a negative and insignificant effect on real GDP growth. However, gross domestic savings, exports, and inflation exert positive and insignificant impacts on GDP growth. Furthermore, Human capital and gross consumption expenditure exert a positive and significant impact on GDP growth, and gross capital information has a negative and significant impact on GDP growth. Thus, Ethiopia’s national development policy should focus on the productive utilisation of domestic savings to increase GDP growth rather than depend on external capital inflow, which is uncertain even when donor countries face long recessions. JEL Codes: E1, E2, E3","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"249 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139858618","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":"History of Economics in the Light of Meghnad Desai’s Poverty of Political Economy","authors":"Ajit Sinha","doi":"10.1177/00194662231223688","DOIUrl":"https://doi.org/10.1177/00194662231223688","url":null,"abstract":"The article discusses some of the major theoretical and practical matters that the discipline of Economics has been grappling with from the times of Adam Smith down to Keynes. The publication of Meghnad Desai’s Poverty of Political Economy turns out to be an occasion or inspiration to revisit these ideas—the article is organised as a review article of the book. JEL Codes: B0, B1, B2, B3","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"482 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139860249","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":"History of Economics in the Light of Meghnad Desai’s Poverty of Political Economy","authors":"Ajit Sinha","doi":"10.1177/00194662231223688","DOIUrl":"https://doi.org/10.1177/00194662231223688","url":null,"abstract":"The article discusses some of the major theoretical and practical matters that the discipline of Economics has been grappling with from the times of Adam Smith down to Keynes. The publication of Meghnad Desai’s Poverty of Political Economy turns out to be an occasion or inspiration to revisit these ideas—the article is organised as a review article of the book. JEL Codes: B0, B1, B2, B3","PeriodicalId":509033,"journal":{"name":"The Indian Economic Journal","volume":"67 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139800527","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}