Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

Paramita Dasgupta ¹, Partha Pratim Ghosh ², Debesh Chakraborty ³

Affiliations
1 Department of Economics, Ananda Chandra College, Jalpaiguri 735101, West Bengal, IN
2 Department of Economics, St. Xavier’s College, Kolkata 700016, West Bengal, IN
3 Jadavpur University, Kolkata 700032, West Bengal, IN

Abstract

This paper attempts to explore structural changes of the Indian economy over the decade of the 1980s through 2006-7, using the Conventional and Modified Input-Output frameworks. Key sectors are identified using weighted backward and forward linkage measures and coefficients of variation. Results based on the Conventional model reveal structural change towards more or less modern production structure of the Indian economy, while that based on the Modified model reflects a mix of traditional and modern industry-oriented production structure. Results based on the Conventional method suggest policies that would focus more on the industrial sector, while those of the modified framework suggest that importance should be given to the traditional as well as modern industrial sectors. Thus, choice of the method of structural analysis for an economy is an important research agenda in the literature on the subject.

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Chandrima Sikdar ¹, Debesh Chakraborty ²

Affiliations
1 School of Business Management, Narsee Monjee Institute of Management Studies, V.L. Mehta Road, Ville Parle (W), Mumbai 400056, Maharashtra, IN
2 Department of Economics, Jadavpur University, Kolkata 700032, West Bengal, IN

Abstract

The paper attempts to study the factor content of bilateral trade between the two developing countries of India and Sri Lanka. Given instances of production sharing between them and the extent of input trade that they engage in globally, it is only appropriate to use a framework which takes into account all these features. It uses the framework of Remier (2006) and Trefler and Zhu (2010) to find out if trade between them provides evidence of Hecksher-Ohlin pattern of trade. Results of the study provide evidence to support Leontief paradox with respect to this bilateral trade.

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Debesh Chakraborty ¹, Priyam Sengupta ², Kakali Mukhopadhyay ³

Affiliations
1 Department of Economics, Jadavpur University, Kolkata, IN
2 Indian Chamber of Commerce, Prakriti Abasan, Flat No. A 32, 343, Garia Gardens, Kolkata 700084, West Bengal, IN
3 Department of Natural Resource Sciences, Agricultural Economics Program, McGill University, Macdonald Campus, 21,111 Lakeshore Road, SteAnne de Bellevue, Montreal, Quebec H9X3V9, CA

Abstract

The Government of India has enacted National Food Security Act, 2013 (NFSA). This paper measures the impact of implementing this Act on production structure of the economy. It applies modified Leontief and Ghosh models in Input-Output framework. A price model was also attempted to see the impact on sectoral prices. Results reveal that few sectors need to move in tandem to keep balance with food grain production. Overall, the country needs to gear up in terms of food grain productivity, otherwise NFSA must be supplemented by import which would entail a heavy burden on the exchequer.

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Kakali Mukhopadhyay ¹, Debesh Chakraborty ²

Affiliations
1 Center for Development and Environment Policy, Indian Institute of Management, Calcutta, IN
2 Department of Economics, Jadavpur University, Calcutta, IN

Abstract

India's economic reform was initiated in mid 1991 by the Government of India. Some strategies for energy sector were adopted. This paper investigates the pattern of energy consumption changes during reform period i.e., 1991-92 to 1996-97and various factors responsible for these changes based on Input/Output model. Here we develop a Structural Decomposition Analysis. Six different factors have been identified here: (i) Technical changes, (ii) Changes in final demand structure, (iii) Changes in the interaction term of technical changes and final demand structure, (iv) Changes in energy exports, (v) Changes in energy imports, (vi) Changes in energy change in stock. Then we separate technical changes and final demand structure again, which explain the energy consumption changes. The most significant role as revealed from the empirical results have been played by the final demand structure, technical changes and interaction term between final demand structure and technical changes.

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Partha Pratim Ghosh ¹, Debesh Chakraborty ²

Affiliations
1 St. Xavier's College, 30, Park Street, Kolkata 700 016, IN
2 Jadavpur University, Kolkata, IN

Abstract

Sri Lanka is a small island economy without much of natural resources. In spite of a troubled domestic environment in recent times, the country has recorded an impressive peiformance in the areas of Average Life Expectancy, Adult Literacy rates, Infant Mortality Rates and similar indices of develapment. However, economic growth, sustained employment generation, reasonable price stability, balance in the external sector, and reduction in income inequality have not been adequate though to proper economy into the league of Developed Nations.

The objective of this paper is to study the inter-sectoral linkages of this economy using Multiplier Analysis to understand his structure by measuring the degree of interconnectedness of its different sectors, since the effectiveness of policy measures is expected to depend on the degree of interconnectedness of an economy. For this purpose, the Extended Input-Output Methodology combining the Leontief (1941) and Ghosh (1958) Models has been used.

The results show that the various sectors of the economy are weakly integrated, which is perhaps the reason why the effects of growth and development oriented policies have not percolated down throughout the economy. The development of strong inter-sectoral linkages is therefore a necessary prerequisite for the country's overall economic development.

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Sikhanwita Roy ¹, Tuhin Das ¹, Debesh Chakraborty ¹

Affiliations
1 Department of Economics, Jadavpur University, Calculta 700 032, IN

Abstract

It is widely recognized that increasing the information technology intensiveness or rapid informatization of the Indian economy will revitalize it and enhance its international competitiveness. This paper tries to establish this fact using the input-output table for the year 1989-90 published by the Central Statistical Organization. Multiplier and linkage analysis has been deployed to identify the key sectors for informatization programme.

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Shibani Maiti ¹, Debesh Chakraborty ¹

Affiliations
1 Department of Economics, Jadavpur University, Calcutta, IN

Abstract

The projeclion of sectoral outputs of an economy is carried on the basis of the Input-Output coefficient matrix of the base period From the different empirical tests made it appears that errors are likely to urise in the projection of economic variables through Input-Output Model. This is so more in developing countries like India because of the rapid economic change taking place in these countries. It is, therefore, necessary to correct the projected values to arrive at more reliable estimate. Various altempts have been made to find out methods for estimation of the size of the error in Input-Output model. Of these attempts, Theil's contribution is worth mentioning. The present paper will present certain modification of Theil's model and experiment with this modified model is done with Indian data.

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Debesh Chakraborty , Tuhin Das , Swapan Seth

Abstract

The rural sector of our country largely use non-commercial energy sources. Villagers use fire-wood, charcoal, agricultural and animal residues, human and animal muscle power for different activities. According to the Report of the Working Group on Energy Policy (Planning: Commission, 1979) the commercial fuels account for about 20 p.c. and non-commercial over 80 p.c. in India.

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Joyashree Kar , Debesh Chakraborty

Abstract

In the wake of the disturbances in the energy sector the short and medium term policy objectives are framed in terms of substitution of high cost fuel by low cost fuel within the framework of available technology. The major thrust of the energy policy recommended by the working group of energy policy and the planning commission in India is towards substitution of high cost oil by indigenous coal or electricity as far as possible (Sixth Plan 1980-85, Report, 1979). Viability of such suggestions have been empirically and statistically checked through price and substitution elasticity estimates in the context of United States (Halvorsen, 1977), Canada (Fuss, 1977), Netherlands (Magnus and Woodland, 1980), certain developed countries (pyndick, 1979), and OECD countries (Griffin, 1979b). But in Indian context such elasticity estimates are not available. The working group in its report has mentioned that "various policies have been determined on 'trial and error basis, since reliable estimates of price elasticity are not available in sufficient and in disaggregated form". An attempt has been made in this paper to verify the degree of inter-fuel substitution possibilities through the elasticity estimates for manufacturing sector.

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Debesh Chakraborty

Abstract

In economic theory measuring the elasticity of substitution, i.e., to what extent the various factors of production can be substituted for each other in the productive process has been a very important issue. Prior to 1961 applied production function studies dealt almost exclusively with functional forms which assumed specific numerical values for the elasticity of substitution parameter, (σ). The Cobb-Douglas function implies unitary elasticity, while the Leontief fixed coefficient model and "the straight line isoquant" production function indicate the values of σ zero and infinite respectively. Since the publication of the famous 1961 ACMS paper research in the field of C.E.S. production function - both of theoretical and empirical nature - is being continued.

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Debesh Chakraborty

Abstract

The problem of aggregation in the input-output analysis arises in two cases : (a) the construction of the input-output table; (b) application of the model for forecasting sectoral output. We shall confine our attention to the second case. A considerable amount of theoretical and empirical work has been done with regard to this case: given the input-output table, how can we aggregate for a specific purpose?.

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