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Sham Bhat, K.
- Foreign Institutional Investment and Stock Market Returns in India: Evidence from ARDL Bounds Testing Approach
Authors
1 Department of Economics, School of Management, Pondicherry University, Kalapet, Pondicherry 605014, IN
Source
Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics, Vol 51, No 2 (2009), Pagination: 127-138Abstract
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 1st July, 1999 to 28th 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.- A Verification of Work Participation, Fertility and Wage Nexus among Married Women in Urban Pondicherry
Authors
1 Department of Economics, Pondicherry University, Pondicherry-605 014, IN
Source
Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics, Vol 47, No 1-2 (2005), Pagination: 37-50Abstract
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.