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No. 375

April 2014





Urban Market Operators' Choice of
Trade/Business in Benin City,
Edo State, Nigeria

Mrs. Ogeah F. N.
S. I Oinofonmwan

The study examined urban market' operators', choice of trade/business in Benin City. With the use of questionnaire, oral interview and personal observation, the study revealed that capital base, family background, acquired skill and sex factors were the major factors that influenced market operations' choice of trade or business. Although the operators monthly income was not very high, 50% of the respondents earned above the N 18,000 (Eighteen thousand Nair-a) minimum wage of government workers in Nigeria.

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 Budgetary Cost of Environmentally
Perverse Subsidies in India

C. Bhujaaga Rao*
D. K. Srivastava

This paper analyses the impact of budgetary subsidies m. errironment It focuses on perverse subsidies which are je-TaSve in the economy. The paper identifies the budgetary uses that have a bearing on environment and estimates the gis^cs Also examines the inter-state variation of ~rrru omental subsidies for four states (Maharashtra, Gujarat, v-sc Bengal and Rajasthan) which represent the high income, mcdle income and low income states. It is observed that the jaKcSeci environmental implicit subsidies account for less tei one percent of the GDP over the period 1994-95 to 2008-#5- The inter-state analysis shows that states with higher per r-cna income have higher per capita subsidy. There is a jesrave relationship between per capita revenue expenditure at environment promoting schemes and per capita income of

  • Faculty at National Institute of Public Finance and Policy, New Delhi.
  • # Directors, Madras School l of Economics, Chennai.

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Economic Reform and Industrial
Productivity: Testing the J-Curve
Hypothesis at State Level

Kirtti Ranjan Paltasingh*
R. K. Mishra**

There has been an intense debate about the trade policy orientation and growth and productivity of manufacturing sector in case performance of Indian manufacturing sector with respect to liberalization policy initiated in 1991 . However, recently researchers found die I-curve pattern of industrial productivity growth with respect to reform in case of Indian manufacturing sector as a whole. But in this paper an attempt is made to test that hypothesis at much disaggregate level of three Indian states. The result confirms that in case of little industrially developed states at the time of initiation of reforms like Maharashtra and Tamil Nadu, productivity growth behaves

  • * ICSSR Fellow, School of Economics, University of Hyderabad, Hyderabad -500 046,
    Email: (Corresponding author)
  • ** Director and Senior Professor, Institute of Public Enterprise, Osmania University Campus, Hyderabad -500 007.

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Relationship of Rate of
Unemployment and Inflation
in Pakistan
(Empirical Status Estimation of NAIRU)

Mazhar-ul-Haq Baluch*

The NAIRU is defined as the rate of unemployment at which there is no tendency for inflation to change (Weiner, 1993). The constant NAIRU as well as Time Varying-NAIRU was estimated by applying appropriate techniques. The NAIRU, estimated by uni-variate models reflected weak specification, but expected relationship between unemployment and inflation. The results reflected unstable long run relationship between inflation and unemployment The time varying NAIRU was estimated by following the Ball and Mankiw (2002) approach and finally Hodrick Prescott (HP) filter technique. The estimated results were according to the expectations, since the inflation rate remained high during 1981 to 2000.

  • * IAssociate Professor, lahore School of Economics, Main Campus Intersection Main Boulevard Phase VIDHA and Burki Road, Lahore. - Pakistan

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An Empirical Inquiry into the
Elasticity and Buoyancy of
Nigeria's Major Tax Sources

J. O. Anyaduba

The paper seeks to ascertain the degree of responsiveness of Nigeria's major tax sources to the discretionary and non-discretionary tax measures undertaken between 1980-2010, and also the relative contribution of each tax source to the aggregate tax yield. The Ordinary Least Squares (OLS) regression analysis is used to determine the elasticity estimates of the major tax sources. The study reveals that most of the major tax sources, with the exception of Value Added Tax (VAT), had low elasticity estimates and therefore failed to make optimal contributions towards the growth of the aggregate tax yield and invariably the Gross Domestic Product (GDP), as they proved to be inelastic. The nation thus lost substantial tax-based revenue over the stated period. The study underscores the need for government to expeditiously address the issues of the low elasticity estimates reported, in respect of most of the major tax sources, in order to enhance their productivity and responsiveness.

  • * Department of Accounting, Faculty of Management Sciences, University of Benin, Benin City.

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