Measuring the contribution of services to the Indian economy is a challenging task because it presents problems not encountered in the primary and secondary sectors. The authors discuss problems found particularly in quantifying the contribution of the banking and software sectors and suggest...

The ideology of globalization and its practice based on neo-liberal paradigm has played a vital role in re-arranging the architecture of global economic and political order. Central to this new economic dispensation is a shift in the role of the state, particularly in its commitment towards the...

Over the last few years, many attempts have been made to implement VAT in India. Initially, all states were to move to VAT system by 2000, but administrative problems and concern over the revenue implications of the change delayed the scheduled implementation. It has been postponed for five...

While many developing countries have reformed their financial systems over the last few decades, how an increased level of financial liberalization affects the saving-investment relationship remains unclear. This paper examines the dynamic relationship between the domestic saving and investment...

This paper empirically investigates the impact of trade and financial liberalization on economic growth in Pakistan using annual observations over the period 1961-2005. The analysis is based on the bound testing approach of cointegration advanced by Pesaran et al (2001). The empirical findings...

The Two-Gap Model suggests that the Poor countries have to rely on the foreign capital inflows (FCI) to fill the two Gaps: Import-Export Gap and the Savings-Investment Gap. There are many forms of the foreign capital inflows like FDI (Foreign Direct Investment), External loans & Credit,...

Micro-Finance is emerging as a powerful instrument for poverty alleviation in the new economy. In India, micro-Finance scene is dominated by Self Help Groups (SHGs) - Banks linkage Programme, aimed at providing a cost effective mechanism for providing financial services to the 'unreached poor'....

In the Gangetic flood plain of West Bengal, wetlands are used for multiple purposes, and have significant role in the livelihoods of the local people. Over the years, these Multiple Use Systems (MUSs) are getting converted to single use systems due to economic and social pressure from dominant...

Why has capitalism prevailed as an institution in promoting economic growth despite its apparent unfairness? In this paper, we argue that within a neoclassical framework, capitalism is fairer compared to collectivism due to the absence of a rationally acceptable collective solution. This is...

This is one chapter from the book “Eseje o teoriich ekonomickeho rustu” (Essays in the Theory of the Economic Growth”, that was published in Czechoslovakia during 1967. The main purpose of the book was to fill one of the many gaps in the knowledge of the advanced contemporary economic...