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

Smriti Mukherjee ¹

Affiliations
1 Gokhale Institute of Politics and Economics, Pune, IN

Abstract

Resource allocation in non-farm sector of less developed economies is generally not done according to any accepted theoretical behaviour pattern. Rural Credit cooperatives or credit unions as they are being called in many African countries provide one such illustration. Lack of efficiency in allocating credit is intimately associated with the sustainability issue of such cooperatives. The paper discusses the factors that need to be taken into account in formalizing cooperative behaviour. Two alternative criteria of efficiency namely optimizing returns and minimizing transaction cost have been highlighted in the paper. It does not however, develop a full fledged model depending on either of these behaviour assumptions.

Full Text

     

Smriti Mukherjee

Abstract

In recent years considerable attention has been given towards developing monetary approach to exchange rate determination the main planks of which seem to be (i) a faith on strict purchasing power parity and (ii) focus on demand for and supply of money as being the main determinants of exchange rate between two countries.

Full Text

     

Smriti Mukherjee

Abstract

Theory of transmission of macroeconomic disturbances from abroad has come into the forefront ever since the publication of Mundell-Fleming model in the sixties. Withdrawal of capital controls and adoption of floating exchange rates have directly contributed to the recent upsurge in interest in this particular area of international economics.

Full Text