No. 378

JANUARY 2015

Vol XCV

ISSN 0019-5170

 

The Indian Journal of
Economics
 

University of Allahabad

Contents


 
 

Analyzing the Social Nexus
of Market: A Case Study of
Indian Tribal Market


Nisheeth Rai

 

This research paper analyzes the social nexus of the market Social nexus or social relation has not been highlighted in any market research. In this research paper it has been argued that, for the participants, the market gives concrete , representation of the ground-plan of their society, its hierarchical organisation and the scheme of values which sustains it Therefore it is important to analyze market in the light of social nexus. Therefore it is important to analyze market in the light of social nexus.

The main objectives of this research paper are to formulate? steps for analyzing the social nexus of market by describing and analyzing the market area, hierarchical aspects of market system, social categories of market, patterns of market relation, and transactions between the major categories of participants in the market and Time and Space of market.

Besides this, this research paper also illustrates /~methods to find out the equality and inequality in market place and tools to find out the coordinates of social distance in market place. Each and every points given above are supplemented by the case study of the Dhorai market, village located deep in the hinterland of North Bastar district, Chattisgarh(central India). So that it can be easily understood that how the social nexus of market is analyzed.

The primary data related to the Dhorai market mentioned above were collected by a fieldwork conducted by the author in 2010 with the help of the field officers and research associates of Anthropological Survey of India, Jagdalpur by conducting an in-depth interview of the participants.

The research revealed that the market gives real expression to principles of social structure. Social relation and social nexus which rise above the social context It locates the participant in a holistic system of anthropological categories, and binds them to this system by means of market relations. The intention of this article is thus to explore and analyze the social nexus of the market and provide an indigenous model for analyzing the social nexus of the market.

  • Assistant Professor, Department of Anthropology, Mahatma Gandtai Antarrashtriya, Hindi Vishwavidyalaya Wardha, Maharashtra.
    E-mail: nisheeth.rai1@gmail.com
    Ph. No. 09545200077

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Dr. B. R. Ambedkar's Model of
Agricultural Development:
An Evaluation

Vimal Shankar Singh*
and
Mahendra Pratap Singh**
 

Dr. B. R. Ambedkar, one of the greatest sons of India, having a sharp brain and heart full of love and affection for the oppressed, not only analyzed the bane of our social life only but also worked on economic issues with same precision as well. Dr. Ambedkar knowing the importance of agriculture as life blood in the life of an average Indian and in.order to solve the problems of agriculture, made deep study of Indian agriculture. Having acumen of analyzing the issues in real perspective, he analyzed all aspects of agriculture and that too in a chronological and scientific manner.

  • * Associate Professor and Head, Department Of Economics, DAV PG College, Varanasi.
  • **Professor and Head, Department of Economics, B.H.U.

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Where (And Why) Has The Currency
Gone? U.S. Personal Income Tax
Evasion, 1970-2008

Richard J. Cebula, Robert Boylan
and
Maggie Foley
 

Unaccounted for currency in the U.S. is argued to reflect the presence of widespread income tax evasion. This preliminary empirical study seeks to identify determinants of federal personal income tax evasion in the U.S. over the period 1970-2008. In this study we use the most recent data available on personal income tax evasion, data that are derived from the General Currency Ratio Model and measured in the form of the ratio of unreported AGI (adjusted gross income) to reported AGI. Other studies of federal income tax evasion for the U.S. are dated and do not use data this current It is found that personal income tax evasion is an increasing function of the maximum marginal federal personal income tax rate, the unemployment rate, the interest rate yield on three year Treasury notes, and per capita real GDP (adopted as a measure of per capita real income), and a decreasing function of the Tax Reform Act of 1986 (during its first two years of being implemented) and the ratio of the tax free interest rate yield on high grade municipals to the interest rate yield on ten year Treasury-notes. Lastly, higher IRS audit rates tend to reduce the amount of tax evasion.

  • Department of Finance and Accounting, Davis College of Business, Jacksonville University, Jacksonville, FL 32211, USA.

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Multiplier Effect on Growth of Income
and Investments Analysis of Sequential
Rounds in Input Output Framework

Shri Prakash*

and
Ms. Ritu Sharma**  


The paper deals with delineation of growth effect of multiplier and propelling by accelerator. Input Output Model of multiplier and accelerator is developed for application to 113x113 Input Output table, 2006-07. Model Result depict that (i) Output effect of multiplier of total consumption vector tapers off in 3 rounds; (ii) Output in second round is lower than that of first round; Each sector's output in third primary round is lower than output of second round; (iii) Output due to secondary round of multiplier activated accelerator also decreases in succeeding round; (iv) Output of all 3 primary and secondary rounds together results in different growth rates of output; (v) Most capita] and producer goods sectors are not affected by multiplier; and (vi) Growth of output emanating from multiplier process overshadows the output effect of accelerator. It is important to keep consumption expenditure growing as its contribution to growth is more than that of investment

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Twin Deficits in India:
An Empirical Investigation

Swati Shastri*
 

The bedrock of sustainable growth is Macro economic Stability which is critically dependent on redressing fiscal imbalances. There is an overriding concern with the fiscal deficit in the contemporary approach to stabilisation policy. It has been proposed as principal instrument for the attainment of the objectives of controlling inflation and current account deficit The present study relates to the later.

Economic theory provides two alternative hypotheses regarding the relationship between the budget deficit and the trade deficit of a country. The twin deficit hypothesis argues that budget deficit causes trade deficit and hence the two deficits are twins. According to Ricardian Equivalence Hypothesis (REH) the two deficits are not twins.
Considerable effort has undergone to empirically validate the above relationships between fiscal deficit and current account deficit The evidence from the empirical literature is, however, unsettled and has produced mixed findings.

This study is an attempt to test the efficacy of fiscal deficit as an instrument of controlling current account deficit in India so as to empirically validate the ongoing emphasis. It thus seeks to investigate the issue of causality between fiscal deficit and current account deficit using Engle—Granger (1987) Approach to Cointegration and Error—Correction Modelling.

It finds that there exists neither short term causality nor cointegration between fiscal deficit and current account deficit The results therefore do not support the Twin Deficit Hypothesis in the Indian context.

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The Logit and Tobit Model of
Rural Households Decision about
Demand for Credit in India

Kulwinder Kaur
 

Increased endowment of physical and human resources reduces the dependence of rural households on external loans but augments their capacity to borrow. Higher risk and uncertainty seriously impede the rural credit by discouraging both borrowing and lending in rural credit Also, high level of agricultural development augments both propensity and capacity of borrowings to meet their money requirement for various purposes.

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An Empirical Analysis of FDI
and Economic Growth in India

N. A. Khan*
and
Balaji**
 

Foreign direct investment (FDI) during the past two decades has played an important role of in the process of globalization. The rapid expansion in FDI by multinational enterprises since the Mid-eighties may be attributed to significant changes in technologies, greater liberalization of Trade and investment regimes, and deregulation and privatization of markets in many countries including emerging countries like India. The objective of study is to analysis the relationship between foreign direct investment (FDI) and economic growth in India and also tries to analyze and empirical estimate the effect of FDI on economic growth, using the co-integrations approach for the period 1990-91 to 2010. The result shows that unit root test that both economic growth and foreign direct investment non-stationary at their level values but these became stationary at the difference.

In ordinary least square method, we reject a positivfil relationship between foreign direct investment (FDI) and GDP and vice versa. In additions, whereas the ordinary least squares regression analysis can establish the dependence of either GDP on FDI or vice versa; this does not necessarily implies directions of causations. The co-integration test confirms that economic growth and foreign direct investment are co-integrated, indicating the existence of the long-run equilibrium relationship between the two as confirmed by the Johansen co-integrations test results. The error corrections results shows that Error—corrections term is statistically significant and has a negative sign, which confirm that there isn't any problem in the long-run equilibrium relations between the variables.

  • * Associate Professor, School of Economics University of Hyderabad, Hyderabad.
    E-mail: sdrkhan58@gmail.com
  • ** Research Scholar (PhD) School of Economics, University of Hyderabad, Hyderabad.
    E-mail: balajibelleker@gmail.com

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University of Allahabad