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Asia and Pacific > India

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
  • Neoclassical Models of Trade x
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Cover IMF Working Papers
In the Eye of the Storm Firms and Capital Destruction in India
Martino Pelli
,
Jeanne Tschopp
,
Natalia Bezmaternykh
, and
Kodjovi M. Eklou
This paper examines the response of firms to capital destruction, using a new measure of firm exposure to tropical storms as a negative exogenous shock on firms’ capital stock. Drawing on a panel of Indian manufacturing firms between 1995 and 2006, we establish that, depending on their strength, storms destroy up to 75.3% of the fixed assets of the median firm (in terms of its productivity and industry performance). We quantify the response of firm sales within and across industries and find effects akin to Schumpeterian creative destruction, where surviving firms build back better. Within an industry, the sales of less productive firms decrease disproportionately more, while across industries capital destruction leads to a shift in sales towards more performing industries. This build-back better effect is driven by firms active in multiple industries and, to a large extent, by shifts in the firm-level production mix within a firm’s active set of industries. Finally, while there is no evidence that firms adjust by investing in new industry lines, firms tend to abandon production in industries that exhibit lower comparative advantage.
Keywords:
WP; ISIC firm; single-establishment firm; tropical storm; firm-industry sales; industry line; intensity industry; industry-year FE; subscript f; ISIC industry; Comparative advantage; Total factor productivity; Capital productivity; Natural disasters; Productivity; Global; firms; capital; creative destruction; storms; Asia and Pacific
Cover IMF Working Papers
An Application of Distribution-Neutral Fiscal Policy
Mr. Sanjeev Gupta
,
Sugata Marjit
, and
Sandip Sarkar
Distribution neutral fiscal policy refers to a structure of taxes and transfers that keep the income distribution unchanged even after positive or negative shocks to an economy. This is referred to as a Strong Pareto Superior (SPS) allocation which improves the standard Pareto criterion by keeping the degree of inequality, but not the absolute level of income intact. We apply this methodology to India to compute SPS tax rates and determine their proximity to actual tax rates. Limited available data on income and expenditure shows that the official policies so far are close to desired benchmark level. Our methodological contribution will be enriched further with more detailed income tax and transfer data.
Keywords:
WP; Lorenz curve; inequality measure; Strong Pareto Superiority; Inequality; Compensation mechanism; SPS allocation; income distribution; income quantile; salary income; Income inequality; Personal income; Income distribution; Estate tax
Cover IMF Working Papers
Make in India: Which Exports Can Drive the Next Wave of Growth?
Rahul Anand
,
Ms. Kalpana Kochhar
, and
Mr. Saurabh Mishra
Structural transformation depends not only on how much countries export but also on what they export and with whom they trade. This paper breaks new ground in analyzing India’s exports by the technological content, quality, sophistication, and complexity of the export basket. We identify five priority areas for policies: (1) reduction of trade costs, at and behind the border; (2) further liberalization of FDI including through simplification of regulations and procedures; (3) improving infrastructure including in urban areas to enhance manufacturing and services in cities; (4) preparing labor resources (skills) and markets (flexibility) for the technological progress that will shape jobs in the years ahead; and (5) creating an enabling environment for innovation and entrepreneurship to draw the economy into higher productivity activities.
Keywords:
WP; product space; export basket; service export sophistication; export product; Indian export; merchandise export; service exports exhibit; India; Exports; Manufacturing; Services; Growth; Trade; Innovations; product space network; vis-a-vis peer EMs; network map; network map of merchandise export; space network map of merchandise export; Service exports; Comparative advantage; Personal income; Global; East Asia; Middle East; Asia and Pacific
Cover IMF Research Bulletin
IMF Research Bulletin, December 2006
Mr. Clinton R. Shiells
,
Mr. Antonio Spilimbergo
,
Mr. Vladimir Klyuev
, and
Raghuram Rajan
The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.
Keywords:
IRB; GATT accession; Fund; corporate governance system; IMF data standards initiative; IMF Research bulletin; research conference; Trade policy; Comparative advantage; General Agreement on Tariffs and Trade; Global; Middle East; North Africa; Middle East and Central Asia; East Africa; Europe; Caribbean
Cover IMF Working Papers
Crouching Tiger, Hidden Dragon: What Are the Consequences of China’s WTO Entry for India’s Trade?
International Monetary Fund
One of the most significant recent developments in world trade has been the entry of China into the World Trade Organization (WTO). This paper examines the implications of China's WTO accession for India's trade, using both econometrics and computable general equilibrium (CGE) models. The paper analyzes how India stands to lose or gain from China's WTO entry in terms of both the direct and competitive channels.
Keywords:
WP; China; India
Cover IMF Working Papers
Rent Seeking
Mr. Shankha Chakraborty
and
Ms. Era Dabla-Norris
This paper examines the relationship between rent seeking and economic performance when governments cannot enforce property rights. With imperfect credit markets and a fixed cost of rent seeking, only wealthy agents choose to engage in it, since it enables them to protect their wealth from expropriation. Hence, the level of rent seeking and economic performance are determined by the initial distribution of income and wealth. When individuals also differ in their productivity, not all wealthy agents become rent seekers and the social costs of rent seeking are typically lower. In both cases, multiple equilibria with different levels of rent seeking and production are possible.
Keywords:
WP; rent seeker; rent seeking