Nostalgia,Identity and Tourism: Bollywood in the Indian Diaspora

In today's global world of movement our personal identities are changing. So, ‘where is my “home”?’ and ‘what is my “identity”?’ have become essential questions in one's life. In recent times, more and more diasporic communities visit their homelands, perhaps to reroot their identities. This study explored the influence of Bollywood movies in the Indian diaspora's identity construction and notions of home and tourism behaviour to India. Findings revealed that the Indian diaspora's imagination of India is strongly informed by Bollywood movies. Yet, different generations of the Indian diaspora have different reasons for travelling to India. The first generation's nostalgia arises from watching Bollywood movies, and as a result, creates a motivation to travel to India. The second generation's main to travel behaviour to India is to experience the new ‘modern’ country, portrayed in the affluent surroundings of contemporary Bollywood movies. And, for those first generations, who have never seen India before, Bollywood movies enable them to romanticise their homeland and create an urge to visit India. Thus, Bollywood movies have immense importance in the Indian diaspora's identity construction, promote diaspora tourism and constitute a huge opportunity for economic development.     

Multi-dimensional deprivation in the awakening giants: A comparison of China and India on micro data

This paper compares multidimensional deprivation in India and China during the 1990s and beyond. The analysis is based on unit record data. The paper disaggregates the overall deprivation by categories, and compares the deprivation distribution between the two countries. The study reports that the high growth rates did not translate into an unambiguous improvement in living standards in either country. Deprivation is still unacceptably high in some categories. While rural deprivation is much higher in India than in China, they face similar levels of urban deprivation. China outperforms India on both child and maternal health.     

Binge watching: An exploration of the role of technology

Watching television shows in quick succession on the Netflix and Amazon Prime platforms is on the rise. Although widespread, this binge watching behavior has received limited attention from marketing academics. The current study conceptualizes binge watching needs and examines their effect on the gratifications obtained from binge watching. We apply the lens of uses and gratifications (U&G) theory for model development and test the model empirically, using data from two cities in India. We add a new category of needs, namely technology-related needs, to the existing psycho-sociological-related needs (named as content-related needs in this paper) present in plain-old-television studies (POTS). We find that a technology-related need—that is, modal experience (the presence of media content in various formats leading to superior experience)—significantly impacts gratification from binge watching. We also find a strong moderating effect of self-control, used in previous studies of binge-eating and binge-shopping, in which the effect of modal experience, navigability and parasocial interaction need gratification is heightened for consumers who have low levels of self-control. We build on these findings to suggest implications for marketers, advertisers, and consumer-advocacy groups.     

Skilled–unskilled wage inequality: A general equilibrium analysis

The paper develops a static three sector competitive general equilibrium model of a small open economy in which skilled labour is mobile between a traded good sector and a non-traded good sector and unskilled labour is specific to another traded good sector. The capital is perfectly mobile among all these three sectors. We examine the effects of change in different factor endowments and of globalization on skilled–unskilled wage inequality. We find that the effect of a change of a factor endowment on wage inequality depends on the factor intensity ranking between two skilled labours using sectors and on the relative strength of the marginal effects on demand for and supply of non-tradable good. We also find that a decrease in the price of the product produced by skilled (unskilled) labour using traded good sector lowers (raises) the skilled–unskilled wage inequality.     

Skilled–unskilled wage inequality,nontraded good and endogenous supply of skilled labour: A theoretical analysis

The paper develops a static four sector competitive general equilibrium model of a small open economy in which skilled labour is endogenously produced by the education sector and is mobile between a traded good sector and a nontraded good sector. Capital is also perfectly mobile among the education sector, skilled labour using traded good sector and the nontraded good sector. However, land and unskilled labour are specific to another traded good sector. We analyse the effects of change in different factor endowments and reduction in tariff rate on skilled–unskilled wage inequality. We find that the effect of a change in different parameters on wage inequality depends on the factor intensity ranking between two skilled labour using sectors and on the relative strength of the marginal effects on demand for and supply of nontraded final good. We also analyse the effects of changes in different parameters on the supply of skilled labour.     

Exact solutions for bond and option prices with systematic jump risk

A variety of realistic economic considerations make jump-diffusion models of interest rate dynamics an appealing modeling choice to price interest-rate contingent claims. However, exact closed-form solutions for bond prices when interest rates follow a mixed jump-diffusion process have proved very hard to derive. This paper puts forward two new models of interest-rate dynamics that combine infrequent, discrete changes in the interest-rate level, modeled as a jump process, with short-lived, mean reverting shocks, modeled as a diffusion process. The two models differ in the way jumps affect the central tendency of interest rates; in one case shocks are temporary, in the other shocks are permanent. We derive exact closed-form solutions for the price of a discount bond and computationally tractable schemes to price bond options.     

Situating the tourist gaze: from appropriation to negotiation

For decades, scholars have emphasized the power of the Western tourist gaze to construct Third World destinations as the ‘Exotic Other'. Scholars have also shown that ‘Third World’ tourism fuelled by media fantasies of the Other represents neo-colonization in the twenty-first century. However, considering all its intentions/claims of impartiality, tourism research has generally travelled in only one direction (from the West to the East). In this study, conducted in Goa and Puducherry, focusing on the social contexts in which people are viewed and photographed, we ask – what do the ‘Third World’ people think of Westerners gazing at them, and their surroundings? How do Western tourists react when photographed by domestic tourists? What are the power relations within which the photographer and the photographed are located? We recognize that no simplistic analyses are possible in the postcolonial context. Directing a critical lens at the tourist gaze, this essay moves from an understanding of the gaze as appropriating to that of the gaze as negotiated.     

A CROSS-COUNTRY STUDY OF EQUIVALENCE SCALES AND EXPENDITURE INEQUALITY ON UNIT RECORD HOUSEHOLD BUDGET DATA

Inequality comparisons require equivalence scales to account for differences in household size and composition. The multiplicity of equivalence scale models makes the sensitivity of the inequality calculations to the scale used a significant policy issue. Such an investigation based on unit records of two adult households from Italy, Australia, South Africa, Thailand, Peru, Philippines, India and Tanzania was our principal motivation. The equivalence scale varies across countries and between different types of children. Inequality rankings of countries, though not the inequality decomposition between households of different composition, are robust to the equivalence scale used.     

Central Transfer a Curse or Blessing? Evidence from the Relative Revenue Effort of Indian States

This paper evaluates the revenue effort of Indian states during the 13th and 14th Finance Commission periods and estimates the impact of central transfers recommended by the Finance Commission on the relative revenue effort of states. Using panel data the study finds that Bihar, Uttar Pradesh, Madhya Pradesh, Assam and Kerala are the top five states with the greatest relative revenue effort. Further, the impact of central transfers on revenue effort was found to be negative, suggesting that greater devolution encourages laxity in the state's tax collection efficiency by providing perverse incentives.