Structural changes and economic landscape of the Indian economy: 2000-2019

This study employs input-output analysis to determine the extent of structural changes in the Indian economy, as well as how economic sector linkages changed between 2000 and 2019, and identifies the sectors with profound linkages with other sectors.  Furthermore, we use the causative matrix to examine the temporal changes in intersectoral interactions. The analysis shows that manufacturing sectors have stronger intersectoral linkages than sevice sectors, with resource-intensive and scale-intensive manufacturing sectors having the most profound linkages. Furthermore, the causative matrix analysis reveals that Indian sectors became more externalized following the global financial crises, while receiving less feedback from other sectors. The results suggest that intersectoral linkages should be taken into account when designing industrial policies, and that investment should be encouraged in India's key economic sectors.     

Agricultural productivity-environmental sustainability nexus through the lens of digitalization and energy intensity in BRICS countries

The agricultural sector holds paramount implications in the economies of BRICS (Brazil, Russia, India, China, and South Africa) countries. Nevertheless, the escalating effect of climate change shows a significant and alarming threat to the actual environmental conditions required to sustain agricultural production. This study examines the potential contribution of demographic dividends, digitalization, and energy intensity in facilitating the attainment of environmental sustainability and agricultural productivity by BRICS economies from 1996 to 2020. The study first tested cross-sectional dependence, then unit roots, cointegration, and long-run elasticities using suitable econometric approaches to explore possible links between the study variables. The empirical results from the long-run estimators stated that digitalization improves agricultural production and the environment; contrarily, demographic dividend and energy intensity contribute to environmental degradation. Furthermore, the long-term improvement of agricultural production is supported by demographic dividend, GDP per capita, energy intensity, and digitalization. Also, the study reached a broad inference emphasizing bidirectional causal associations between demographic dividend, energy intensity, GDP per capita, the environment, and agricultural production. In conclusion, the study has identified robust policy options for BRICS economies that can serve as valuable guidance for policymakers in making informed decisions and implementing effective practices.     

Chief executive officer ability and corporate environmental sustainability information disclosure

This study explores the impact of CEO ability on corporate environmental sustainability information disclosure. We take samples from Chinese A-share listed companies from 2010 to 2019 and use the ordinary least squares as a baseline regression model to check the relationship between CEO ability and corporate environmental sustainability information disclosure. Our findings are robust to different corporate environmental sustainability information disclosure measures and CEO ability. We found a positive association between CEO ability and corporate environmental sustainability information disclosure; thus, firms with a more able CEO are more likely to disclose more corporate environmental sustainability information. Our results also found a significant negative interaction coefficient between CEO ability and CEO career concerns. As the CEO grows older, his/her ability decreases; therefore, corporate environmental sustainability information disclosure reduces. Furthermore, we document that a female CEO strengthens the relationship between CEO ability and corporate environmental sustainability information disclosure. The study results are important for understanding corporate environmental responsibility development and implementation, particularly in China.     

Director and officer liability and corporate tax avoidance

We use the unique nature of the director and officer liability protection law applicable to Nevada incorporated firms to study how liability protection is related to corporate tax avoidance. We find that firms incorporated in Nevada avoid 32% more federal corporate tax as a fraction of total assets than firms incorporated in Delaware, and 40% more than firms incorporated in other states. Nevada-incorporated firms have a 15% lower cash effective tax rate and an 8% lower GAAP ETR. The results are robust to various specifications including instrumental variable and matching approaches. Greater tax avoidance is also associated with lower payouts to shareholders for Nevada-incorporated firms. The findings are consistent with theories about the complementarity of managerial diversion and tax avoidance for firms with poor monitoring, and they demonstrate how increases in liability protection lead to the unintended consequence of greater firm tax avoidance.     

Measuring technical efficiency of banks vis-à-vis demonetization: an empirical analysis of Indian banking sector using CAMELS framework

Quality & Quantity - The present paper examines the banking industry’s technical efficiency for the pre-and post-demonetization period, using the case of India. A two-stage analysis has...     

‘If there is nothing else there is teaching’: Professional identity of preservice teachers in Pakistan

Coupled with developing required knowledge, skills and attitude, preservice teacher education is said to influence professional identity of a student teacher. This research aimed to understand professional identity development of prospective teachers who recently completed their 4-year preservice teacher education programme in a public university in Pakistan. To achieve the stated purpose, the research used a case study approach and collected data through semistructured interviews from five preservice teachers who recently completed their preservice education. The data suggested that moral purpose in teaching was the most influential factor in teacher identity development in this region. In addition, the status of teachers in the region, teaching practice, workplace relationships and prospective teachers' own agency influence the way they shape and reshape their professional identity. Although unexplored through a systematic research, teacher identity has been a frequently discussed topic in the context of Pakistan. This paper reports the voices of unheard and less recognized individuals (teachers) from a remote region of Pakistan. It brings forth some significant insights such as the moral purpose of teaching that has received limited attention in teacher identity development.     

The welfare implications of COVID-19 for fragile and conflict-affected regions

Understanding the ramifications of the COVID-19 pandemic for households' welfare in regions subject to fragility, conflict, and violence (FCV) is important to inform programs and policies in this context. Harmonized data from high-frequency phone surveys indicates that, at the onset of the pandemic, a higher fraction of respondents in FCV regions relative to non-FCV ones faced adverse household income changes and reported to have stopped working since the outbreak of the crisis. On top of that, households in FCV regions were far less likely to have received government assistance than those in non-FCV regions. These findings suggest that, at the start of the COVID-19 pandemic, there was a widening of the preexisting economic gap between FCV and non-FCV regions, raising the recovery bar for the former.     

Strategic default,multiple installments,and the role of informal moneylender in microcredit contract

I model the role of strategic defaults and informal moneylenders on multiple-installment loan contracts offered by microfinance institutions (MFIs). The results show that a single-installment loan is not viable due to MFIs' vulnerability to strategic defaults and borrowers' lack of collateral. In contrast, a multiple-installment contract requires borrowers to borrow from the moneylender, who is immune to strategic default, in order to repay the MFI's early installments that are due before the project yields a return. Consequently, both default costs and borrowing costs increase and incentives to commit strategic default decline, making the multiple-installment contract profitable for MFIs.