This collection consists of published and unpublished articles of IIMK Community. http://dspace.iimk.ac.in:80/xmlui/handle/2259/293 2026-05-12T13:18:41Z 2026-05-12T13:18:41Z Ashok Thomas Luca, Spataro http://dspace.iimk.ac.in:80/xmlui/handle/2259/976 2020-12-08T17:23:24Z 2015-01-01T00:00:00Z

Financial Literacy, Human Capital and Stock Market Participation in Europe Ashok Thomas; Luca, Spataro Households’ stock market participation has significant effects on savings and on an economy’s financial development and performance. Yet participation into capital markets is limited and quite heterogonous both among and within several countries. This phenomenon represents an empirical puzzle whose understanding is rather incomplete. In this work, we exploited a combination of datasets for nine European countries and used different econometric specifications that allow to control for endogeneity of financial literacy and human capital, to assess the role of several variables in affecting the probability to participate in the stock market in year 2010. Besides socio-demographic variables, we found that financial literacy has a positive and significant effect on stock market participation, together with the level of human capital and social interaction. Country level differences are explained by such institutional factors as the effectiveness of the education system and by the attractiveness of the stock markets.

2015-01-01T00:00:00Z Balakrishnan, Pulapre http://dspace.iimk.ac.in:80/xmlui/handle/2259/967 2020-12-08T17:22:43Z 2017-01-01T00:00:00Z

The internal dynamic of Indian economic growth Balakrishnan, Pulapre A stylised fact of India’s economic history since 1950 is that the rate of growth of the economy has accelerated periodically and across policy regimes. In this paper we present a theoretical framework that can generate such a pattern due to cumulative causation through positive feedback. The growth process is then investigated using cointegration analysis. We are able to establish the existence of positive feedback which is at the centre of cumulative causation. We are also able to date the onset of this mechanism which has driven growth in India for close to half a century by now. This leads us to conclude that the internal dynamics are at least as important as the policy regimes to understand growth over the long term in this country. Journal of Asian Economics 50 (2017) 46–61: Please see the original of this article at https://www.sciencedirect.com/science/article/pii/S1049007816300501

2017-01-01T00:00:00Z Sthanu R Nair Leena Mary Eapen http://dspace.iimk.ac.in:80/xmlui/handle/2259/965 2020-12-08T17:22:17Z 2017-06-24T00:00:00Z

Price Monitoring and Control under GST Sthanu R Nair; Leena Mary Eapen The Central Goods and Services Tax Act, 2017 has an “anti-profiteering” clause aimed at ensuring that businesses pass on tax rate cuts and cost savings resulting from the adoption of GST to the consumers. In this context, Australia’s experience with price monitoring and control during the GST transition period is looked at to draw lessons for India. It is eminently possible to institute a comprehensive and effective price monitoring and control mechanism in India to enable benefits to consumers under the GST regime. However, the anti-profiteering rules in their present form have some lacunae and may not produce the desired results of containing profits and, thereby, price rise.... Economic and Political Weekly, Vol. 52, Issue No. 25-26, 24 Jun, 2017

2017-06-24T00:00:00Z Mukherjee, Soumyatanu http://dspace.iimk.ac.in:80/xmlui/handle/2259/939 2020-12-08T17:23:05Z 2017-01-01T00:00:00Z

Input trade reform and wage inequality Mukherjee, Soumyatanu This paper, using a general equilibrium model of production and trade for a developing country with non-traded goods, dual unskilled labour markets and internationally fragmented skillintensive production, illuminates how liberalised input trade affects the unskilled wages prevailing in the informal sectors and employment conditions in those sectors. Numerical analysis further highlights importance of the elasticities of factor substitution in production of different sectors to determine the movement in informal wage and therefore the movement in skilled–unskilled wage gap. These results are consistent with the empirical evidence on developing countries (like India) that suggests liberalisation-inequality relationship cannot be explained by focusing on tradable goods alone. International Review of Economics and Finance 51 (2017) 145–156

2017-01-01T00:00:00Z