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

P. Srinivasan ¹, P. Ibrahim ¹, K. Sham Bhat ¹

Affiliations
1 Department of Economics, School of Management, Pondicherry University, Kalapet, Pondicherry 605014, IN

Abstract

The paper uses Autoregressive Distributed Lag (ARDL) bounds testing approach to examine the dynamic behaviour of net foreign institutional investment flows on stock market returns in India for the daily data series from 1^st July, 1999 to 28^th February, 2009. By and large, the analysis reveals that there is an evidence of positive and negative feedback trading hypothesis in the short-run and long-run respectively. This implies that foreign institutional investment acts as destabilising forces in the short-run and has a smoothening effect in the long-run.

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V. Nirmala ¹, K. Sham Bhat ¹

Affiliations
1 Department of Economics, Pondicherry University, Pondicherry-605 014, IN

Abstract

The study examines the nexus among married women's work participation, fertility and wage in urban Pondicherry. The primary data for the purpose were collected during March/April 1997 from a random sample of 200 women with living husbands, of whom 150 were working and 50 non-working. Regressions were estimated using Probit, Tobit and Logit methods to identify the factors influencing married women's work participation decisions. Stepwise procedure was adopted in order to eliminate the problems of multicollinearity, if any in the estimation of the regression models. Besides, 2SLS equations were also estimated to examine the inter-relationship among work participation fertility and wages.

The analysis of married women's work participation using Probit, Tobit and Logit regressions yielded almost similar results. Income variables, other than own wages, had a significant negative substitution effect on their work participation, implying that better economic conditions of the family discouraged married women from taking up paid employment. Instead they would prefer concentrating on their domestic responsibilities. The effect of own age during the survey was positive and significant while that of a further increase in age was negative and significant. The latter implied that a further increase in age deterred the women from joining labour market. Higher fertility also significantly affected their labour participation decision. This holds an implication for a nexus among work participation. fertility and wage. However, the 2SLS estimates failed to illuminate any distinct inter- relationship among the selected variables. This implies that conservatism over-rules these factors in urban Pondicherry.

Regressions were estimated using Probit, Tobit and Logit methods to identify the factors influencing married women's work participation decisions. Step-wise procedure was adopted in order to eliminate the problems of multicollinearity. If any in the estimation were also estimated to examine the inter-relationship among work participation, fertility and wages.

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K. Sham Bhat , V. Nirmala , B. Kamaiah

Abstract

The classical axiom of a balanced budget as a virtue of sound Government collapsed under the onslaught of Great Depression of the 1930s. At that juncture, Keynes recommended deficit budgeting as an important tool for the revival of an economy. Eversince, deficit budgeting is being advocated as a means of financing economic development by both developing and developed countries. However, the problem of rising budget deficit over the years in most countries has aroused a lot of concern among economists and policy makers. The presentation of a budget has also been anxiously awaited by all classes of people in anticipation of a rise, cut or introduction of a new tax by the Government.

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V. Nirmala , K. Sham Bhat , Md. Mohsin , B. Kamaiah

Abstract

Work participation models were estimated using OLS and Tobit methods to investigate into the behavioural response of married women with living husbands in Pondicherry region. Data for the study were collected through personal interviews during April 1990 and 1991 from two samples of 125 women each, residing in urban and rural areas respectively, thus contributing a total sample of 250 observations. The analysis revealed a1most identical and significant response of women to change in education and income variables, regardless of regional differences. However, the response to child variables and dependents in family varied considerably across the rural and urban samples. The Chow test conducted to examine whether the sets of coefficients for the rural and urban samples remained the same, showed that the overall pattern of labour participation behaviour was significantly distinct between the two regions in Pondicherry.

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