Contents
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Determination of Impurity Level and
Emission Standard under Various Market Structure
MIAO-SHENG CHEN AND CHUNG-CHIANG CHEN |
The hazardous substance contained in chemical products will
be released into the environment as pollutants in various form after consumer's
consumption, which usually involves with chemical reaction. We construct a
model by taking fuel as an example to determine the impurity (e.g. sulfur
content) level and emission (e.g. SOX) standard as environmental regulation
under various market structure. The impact of the restriction on impurity level
in fuel on production level, emission standard and welfare is examined. |
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Optimization of Traditional
Agro-Forestry System in Mid Hills of Himachal Pradesh
RAJESH K. RANA; R. S. PRASHER AND Y. S. NEGI |
Agro-forestry has been practiced by the hill farmers since
time immemorial in one form or the other. Present study is an attempt of
understanding and analyzing the complex functioning of hill agro-forestry
systems with a goal of suggesting optimal plans under different situations.
Linear programming approach was used as an analytical technique and seven plans
have been suggested for different situations of farm business.
Annuity values of forestry trees planted on field bunds and pasture lands were
calculated in order to incorporate individual tree in the linear programming
model. Besides trees, agricultural crops and animals were also included in the
model. Taking into consideration vast potential floriculture and apiculture in
the area, both were included in the model as additional profitable activities.
Two different linear programming models were prepared for small and large
farmers. The study reveals that if modern technology and factors of production
are supplied in desirable quantities then the returns over variable cost have
potential of getting increased by more than three times on small farms and more
than two and halftimes on large farms. |
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Economic and Social
Benefits from Biogas Technology: A Study of Una District (H.P.)
M. S. PATHANIA AND G. D. VASHIST |
Himachal Pradesh has emerged as a pioneer hill state in the
development of biogas technology as more than 38,656 biogas plants have so far
been installed in the state. Attractive incentives have also been provided in
the form of lofty subsidy for the installation of biogas plants. It is
imperative that the programme which is launched in a big way should be
evaluated. So, an economic analysis of the biogas technology is also essential
to acquaint the authorities about the progress and economic benefits that
accrue to the beneficiaries through adoption of biogas technology. Una district
of Himachal Pradesh boarding plains of Punjab was purposively selected for the
study. Sample design used for selection of biogas plant owners was multistage
stratified random sampling. Ten per cent sample was drawn randomly from each
size of functional biogas plants and primary data were collected from these
biogas plant owners. In order to work out the incremental benefit, only
additional cost incurred due to biogas plants were accounted for the use of
dung through biogas plants determines the incremental benefits from this
technology. To examine the economic viability of biogas plants in Himachal
Pradesh, budgeting techniques such as Net Present Value (NPV), Benefit Cost
ratio (B/C ratio), Pay Back Period (PBP) and Internal Rate of Return (IRR) were
worked out for different sized biogas plants separately.
The findings of the study have clearly brought out that both the model used in
the analysis gave almost same additional returns. The per capita fixed cost
decreased with the increase in the size of biogas plants. Total variable cost
increased with the increase in the size of biogas plants. |
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Demand Following and Supply Leading
Relationships: An Empirical Analysis for India
SAUMYA S. BANERJEE AND S. GHOSH |
The study investigates the effects of activities of
financial institutions (FIs). In particular, an econometric study has been
undertaken to examine the 'supply-leading' and 'demand-following'
characteristics of FI activities. The investigation is conducted by employing
time series data using macro variables over the period 1960-61 to 1997-98. Our
analysis shows the existence of a strong supply-leading (SL) relationship from
real disbursements to real investments. The SL relation is further confirmed
through the Sims causality tests. The demand-following (OF) relationship from
real investments to real disbursements finds weak confirmation via the Sims
causality test. Evidence therefore supports the presence of a strong SL link in
the Indian context. |
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Investigating the Relative
Effectiveness of Monetary and Fiscal Policy for India: A Multivariate
Co-integration and Error-Correction Approach
MOHAMMED I. ANSARI
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This paper tests the relevance of monetary and fiscal policy
of India and evaluates the impact of the recent policy of economic
liberalization on their relative effectiveness. Unlike previous studies, this
paper draws on co integration analysis and employs a vector error- correction
modeling approach. Impulse response functions and variance decompositions are
analyzed to determine the dynamic properties of the relationships. Results seem
to indicate the dominance of fiscal policy in India. The monetary policy
effectiveness is further undermined by monetary accommodation of some evidence
of a small change in the relative monetary-fiscal policy effectiveness, the
results from recursive regression and Chow-tests failed to show any clear break
in the historical pattern of relative effectiveness in the post 1991 period. |
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Output Gap's, Inflation and Money in
Some South Asian Countries During 1950-98
THILAK RANA WEERA
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A number of empirical studies for developed countries
(especially for the OECD countries) have demonstrated the validity of the so-
called gap model in explaining inflation and have provided estimates of the
magnitude of the impact of output gaps on inflation. A recent study has found
substantial evidence to suggest that the gap model is equally applicable .to
East Asia and that the output gap is a significant determinant of the change in
inflation in most of the Asian countries investigated. The purpose of the
current article has been to test whether the gap model works in the case of
some South Asian countries, i.e. India, Pakistan, and Sri Lanka, where economic
fundamentals have been somewhat different from those that existed in East Asia.
The results reported in the current study for India,. Pakistan and Sri Lanka
lend only limited support to the view that the output gaps have a significant
effect on inflation in the three South Asian countries. On the other hand,
there seems to be more support for the view that money changes and terms of
trade variations have had a comparatively greater influence in determining
inflation in the South Asian countries. |
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Empirical Evidence of the J-Curve
Hypothesis
KISHORE G. KULKARNI AND ALPNA BHATIA |
Devaluation of a currency is expected to have a J. Curve
effect meaning that balance of trade initially deteriorates and eventually
improves. Numerous studies have tested this effect for several countries with
some amount of success in its validity. This paper tries to use the data of
seven countries to test the evidence of J-curve hypothesis. It is found that
with the exception of China all six countries show J-curve phenomenon after
their currency devaluation. In case of Japan, the currency has appreciated
significantly hence the inverted J- Curve is witnessed. |
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Marketing of Petroleum Products and the
National Economy of Nigeria
P. P. EKERETE
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This research work was undertaken to investigate the
marketing of petroleum products in Nigeria. The data for the research were
obtained through questionnaire administered on the staff of the Ministry of
Petroleum Research, Nigerian National Petroleum Corporation (NNPC) and Pipeline
and Products Marketing Company (PPMC). The data were tabulated and analysed.
The research revealed some determinants of price stability in Nigeria. It shows
that adequate economic importance of the marketing of petroleum products is not
felt by the masses. The research also reveals that there are adequate
monitoring and controlling of revenue by the Ministry of Petroleum Resources
and NNPC. There is a strong agreement shown by the research that pipeline is
effective in the distribution of petroleum products in the country.
It was therefore recommended that prices should made stable, fund monitoring be
fortified, new marketing strategies should be introduced. The petroleum
products should be used in exchange for new technologies and strict measures be
taken against any person(s) involved in bunkering, smuggling and adulteration
of petroleum products. |
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