scholarly journals Demographic Change and Private Savings in India

2021 ◽  
Author(s):  
Neha Jain ◽  
Srinivas Goli
Keyword(s):  
Gender Equity ◽  
State Level ◽  
Economic Life ◽  
Economic Policies ◽  
Multiple Sources ◽  
Indian States ◽  
Working Age ◽  
Private Savings ◽  
Per Capita ◽  
Working Age Population

India is on the edge of a demographic revolution with a rapidly rising working-age population. For the first time in this study, we investigate the role of the rising working-age population on per capita small savings in post offices and banks net of socio-economic characteristics using state-level panel data compiled from multiple sources for the period 2001-2018. Our comprehensive econometric assessment with multiple robustness checks provide three key findings: (1) Per capita private savings is increasing because of India’s growing working-age population, thus the ‘economic life cycle hypothesis’ is supported. (2) The demographic factors contribute around one-fourth of the per capita private savings inequality across Indian states. (3) The demographic window of economic opportunity for India can yield maximum benefits in terms of private savings when accompanied by favourable socio-economic policies on education, health, gender equity, and economic growth.

scholarly journals Exploring Determinants Of U.S. Household Debt

2011 ◽  
Vol 27 (6) ◽  
pp. 85 ◽  
Author(s):  
Erin Turinetti ◽  
Hong Zhuang
Keyword(s):  
Housing Prices ◽  
Consumer Confidence ◽  
Household Debt ◽  
Policy Makers ◽  
Factors Influencing ◽  
Working Age ◽  
Per Capita ◽  
Working Age Population ◽  
Household Borrowing ◽  
The U.S

The fast growing household debt in the U.S. has become a concern to the general public and policy makers. This paper attempts to explore the factors influencing the U.S. household indebtedness using quarterly data over the period of 1980-2010 and controlling for the time series issues. The estimated results show that the unemployment rate, interest rate, disposable personal income per capita, share of retiring population, and educational attainment are negatively associated with the household debt, while housing prices, consumer confidence, and the share of working-age population are positively related to the household borrowing.

An Empirical Inquiry into Per Capita Convergence of Indian States

2019 ◽  
Vol 11 (3) ◽  
pp. 232-247
Author(s):  
Subaran Roy ◽  
Chitrakalpa Sen ◽  
Rohini Sanyal
Keyword(s):  
Capital Expenditure ◽  
State Level ◽  
Panel Unit Root Tests ◽  
Indian States ◽  
Growth Convergence ◽  
Empirical Inquiry ◽  
Policy Interventions ◽  
Development Expenditure ◽  
Per Capita ◽  
Active Policy

The topic of growth convergence (or the lack of it) has always been one of the most important economic phenomena for Indian states. This study undertakes more than 3 decades of data for Indian states from the 1980s and traces convergence of state-level per capita income; breaking the data down into the subperiods based on time and levels of income using panel unit root tests. The results show no discernible evidence of convergence across the states, especially after post-liberalization. However, taking into account control variables for capital expenditure, development expenditure, and fiscal deficit, we find significant evidence for convergence of state-level per capita GDP. This indicates that the nature of inequality across states is not structural in nature and can be reduced through active policy interventions.

scholarly journals Demographic Change and Economic Growth in India

2021 ◽  
Author(s):  
Neha Jain ◽  
Srinivas Goli
Keyword(s):  
Capita Income ◽  
Annual Growth Rate ◽  
Window Of Opportunity ◽  
Demographic Dividend ◽  
Per Capita Income ◽  
Employment Opportunities ◽  
Gender Empowerment ◽  
Working Age ◽  
Per Capita ◽  
Working Age Population

In this paper, we assess the economic benefits of demographic changes in India by employing econometric models and robustness checks based on panel data gathered over a period of more than three decades. Our analysis highlights four key points. First, the contribution of India’s demographic dividend is estimated to be around 1.9 percentage points out of 12% average annual growth rate in per capita income during 1981–2015. Second, India’s demographic window of opportunity began in 2005, significantly improved after 2011, and will continue till 2061. Third, our empirical analysis supports the argument that the realisation of the demographic dividend is conditional on a conducive policy environment with enabling aspects such as quality education, good healthcare, decent employment opportunities, good infrastructure, and gender empowerment. Fourth, the working-age population in India contributes around one-fourth of the inequality in per capita income across states. Thus, to reap the maximum dividends from the available demographic window of opportunity, India needs to work towards enhancing the quality of education and healthcare in addition to providing good infrastructure, gender empowerment, and decent employment opportunities for the growing working-age population.

Rethinking the effect of floods and financial development on economic growth

2019 ◽  
Vol 13 (3) ◽  
pp. 485-503 ◽  
Author(s):  
Yashobanta Parida ◽  
Devi Prasad Dash
Keyword(s):  
Financial Development ◽  
Capital Expenditure ◽  
State Level ◽  
Flood Management ◽  
Adverse Impact ◽  
Economic Losses ◽  
Indian States ◽  
Content Type ◽  
Long Run ◽  
Per Capita

Purpose The purpose of this paper is to evaluate the effect of floods and the role of financial development on per capita gross state domestic product (GSDP) growth, controlling for growth-enhancing factors across Indian states. Design/methodology/approach The paper uses the pooled mean group (PMG) method using state-level panel data for 19 Indian states over the period 1981-2011. Findings The PMG estimate shows that floods negatively affect the per capita GSDP growth in the long run. The results show that the mean of economic losses, the population affected and the area affected by floods increase by 10 per cent, leading to a decline in per capita GSDP growth by 0.0303, 0.0633 and 0.0232 per cent, respectively, in the long run. Furthermore, the population affected by floods exerts a higher adverse impact on the per capita GSDP growth compared to other flood measures. The results further show that states with better financial development experience a higher per capita GSDP growth, supported by additional capital expenditure, enrolment in higher education, better road infrastructure and higher urbanization. The crime rate is negatively correlated with per capita GSDP growth. Originality/value The results based on PMG estimates suggest that not only floods but also crime activities adversely affect the per capita GSDP growth across Indian states. Better financial market increases the per capita GSDP growth in the long run. This study not only contributes to empirical growth literature but also provides some useful policy suggestions. Moreover, the results lead to the conclusion that long-term flood management policies are essential to mitigate the adverse impact of floods on per capita GSDP growth across Indian states.

scholarly journals A Comparative Analysis of Residential Energy Consumption in Urban and Rural China: Determinants and Regional Disparities

2018 ◽  
Vol 15 (11) ◽  
pp. 2507 ◽  
Author(s):  
Feng Dong ◽  
Bolin Yu ◽  
Yifei Hua ◽  
Shuaiqing Zhang ◽  
Yue Wang
Keyword(s):  
Energy Consumption ◽  
Income Level ◽  
Regional Disparities ◽  
Dependency Ratio ◽  
Residential Energy ◽  
Residential Energy Consumption ◽  
Average Temperature ◽  
Working Age ◽  
Per Capita ◽  
Working Age Population

Residential energy consumption (REC) has become increasingly important in constructing an energy-saving and environment-friendly society in China. The main purpose of this study is to provide a more in-depth analysis of the determinants of REC from an urban-rural segregation perspective, and quantify the contributions of individual determinants to the regional disparities of REC. Based on the extended STIRPAT (the stochastic impacts by regression on population, affluence, and technology) model, seemingly unrelated regression (SUR) estimation is employed to examine the impacts of various determinants of urban REC per capita (URECP) and rural REC per capita (RRECP) in a sample of China’s 30 provinces over the period 2007–2016. Then, following the results of SUR, this paper tries to explore the reasons for interprovincial disparities of URECP and RRECP by using the Shapley value decomposition. The empirical results show that income level and heating lead to an increase in URECP, while other factors, including the share of natural gas, average temperature, child dependency ratio and gross dependency ratio, significantly decrease URECP. In terms of RRECP, it is shown that old-age dependency ratio, income level and the share of coal consumption positively influence RRECP, while average temperature has a negative effect on RRECP. Specially, the effect of gross dependency ratio on RRECP is positive, indicating the non-working-age population causes more energy use than the working-age population in rural areas. According to the Shapley decomposition, rather than social-economic variables, climate and heating factors contribute the most to the interprovincial differences in URECP. Furthermore, it is found that income level is the most important factor accounting for inter-provincial differences in RRECP. The findings of this research are of great interest, not only to scholars in REC-related fields, but also to decision makers.

scholarly journals The Dilemma Economic Growth And Poverty Rate In Sulawesi

Media Trend ◽  
2021 ◽  
Vol 16 (1) ◽  
pp. 40-48
Author(s):  
Kalzum R Jumiyanti ◽  
Moh. Jamal Moodoeto ◽  
Deby Rita Karundeng
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Total Population ◽  
Poverty Rate ◽  
Economic Conditions ◽  
Depth Analysis ◽  
Working Age ◽  
Per Capita ◽  
Working Age Population ◽  
The Government

Economic growth is often cited as a significantly contributive factor reduction of the poverty rate. This study aims to investigate the economic growth and poverty among all areas within Sulawesi Island and to compare these two aspects among the island’s provinces. This study employs both comparative quantitative analysis to explore economic growth formulatively and qualitative manner for in depth analysis. The result reveals an escalation in both gross regional domestic product (henceforth regional GDP) and total population each year for the last ten years. However this situation is unable to boost the macro-economic growth; a reason for this condition is the population growth in the recent ten years possibly dominated by High birth rates. Yet, this condition does not lead to a drop in the demand for workforces, which implies that the number of the working-age population (which can help improve the regional per capita income) remains constant despite the population growth. Another possible factor of regional GDP escalation is the fact that the government policy, in its foreign cooperation implementation, does not contribute to the local workforces. Nevertheless, the rise in regional GDP is insignificant as it does not affect the local economic conditions. Hence, it proves that the fluctuation of economic growth does not affect the poverty rate.

scholarly journals Does Political Competition Matter for Economic Performance? Evidence from Sub-National Data

2010 ◽  
Vol 58 (5) ◽  
pp. 1030-1048 ◽  
Author(s):  
Saibal Ghosh
Keyword(s):  
Economic Performance ◽  
Capita Income ◽  
Political Competition ◽  
State Level ◽  
Per Capita Income ◽  
National Data ◽  
Indian States ◽  
Career Concern ◽  
Per Capita ◽  
The Impact

The study utilises data on major Indian states for the period 1980–2004 to explore the impact of political competition on state-level income and fiscal variables. The findings suggest that an increase in political competition leads to an increase in state per capita income and growth. In terms of magnitude, a proportionate increase in political competition, measured in terms of vote margin, raises per capita income by roughly 0.001. Focusing on fiscal variables, the analysis indicates that tighter political competition increases economic expenditure. The evidence also appears consistent with the career concern hypothesis, which suggests that politicians increase developmental spending in order to improve their re-election prospects.

scholarly journals Impact of the demographic dividend on economic growth

2018 ◽  
Vol 2 (4) ◽  
pp. 85-135
Author(s):  
Zarina Kazbekova
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Population Decline ◽  
Gdp Per Capita ◽  
Demographic Dividend ◽  
Working Age ◽  
Real Gdp Per Capita ◽  
The Russian Federation ◽  
Per Capita ◽  
Working Age Population

In the context of the working-age population decline in the Russian Federation, the study of the influence of the dynamics of the share of the working -age population on economic growth is of particular interest. The main purpose of the article is to assess the contribution of the first demographic dividend to the GDP per capita growth rate in Russia betwеen 1997 and 2015. The main methods used by the author of this work are statistical analysis and econometric modeling based on Rosstat data. According to the results obtained in the course of this study, the first demographic dividend provided about 13% growth of real GDP per capita in the Russian Federation in 1997-2015. It has been proved that the age structure of the population is important.

scholarly journals Good Governance and Social polarization amongst Indian States and its Implication

2016 ◽  
Vol 12 (3) ◽  
pp. 185-194
Author(s):  
Rekha Sanjeev Acharya ◽  
Vishakha Shreesh Kutumbale
Keyword(s):  
Economic Growth ◽  
Capita Income ◽  
Lorenz Curve ◽  
Good Governance ◽  
Economic Crime ◽  
Economic Policies ◽  
Per Capita Income ◽  
Indian States ◽  
Employment Opportunities ◽  
Per Capita

Economists agree that governance is one of the critical factors explaining the divergence in performance across regions / countries.  Whenever any economy undergoes profound economic changes, it is implicitly presumed that the benefits of economic growth will automatically trickle down to poor and reduce income inequality across regions. As a result positive changes will be reflected in the form of increased employment opportunities, good standard of living and low rate of total economic crime and so on. As observed by the UNDP (1997) report that result of good governance is development that gives priority to poor, advances the cause of women, sustains the environment and creates needed opportunities for employment and other livelihoods. Therefore the phenomena of good governance are usually explained in the form of economic policies in decision making processes that must contribute to reduction in all types of inequalities across regions.On the contrary, studies on economic growth and development highlighted that the major problems of developing countries are unequal income distribution and low growth rate, which affects their welfare aspects.  Early works done by Anderson (1964) and Aaron (1967) showed that there was an inverse relationship between growth and income distribution. However, Kaufmann, et al. (1999a, 1999b, 2002) indicated a strong causal relationship running from good governance to an increasing level of per capita income and other social outcomes. Thus we see the concept of good Governance is multifaceted and encompasses different element of the state and the society. Our study shows that throughout the country although there has been an increase in per capita income (measured in terms of net state domestic product NSDP, over the decade (2000-2011) but the differences emerged in terms of increase in total economic crime and employment opportunities. With the help of Lorenz Curve, we have depicted significant inequality between income and total economic crime rate. Similarly, inequality also observed for per capita employment opportunity generation for all Indian states. The coefficient of variation for per capita income and per capita employment opportunity has increased by more than 10 per cent over the decade. Whereas for total economic crime, there has been a fall in coefficient of variation for more than 13 per cent which indicate that there has been consistency in total economic crime. Our study strongly advocates that Indian economic policies fail to translate its impact in the form of good governance because it has increased inequalities across Indian states.Key Words: Polarization, good governance, Economic Crime, NSDP, Lorenz Curve, inequalities

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