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Asia and Pacific > India

You are looking at 1 - 10 of 18 items for :

  • Type: Journal Issue x
  • Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure x
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Cover IMF Working Papers
The Spending Challenge of Achieving the SDGs in South Asia: Lessons from India
Ms. Mercedes Garcia-Escribano
,
Ms. Tewodaj Mogues
,
Marian Moszoro
, and
Mauricio Soto
South Asia has experienced significant progress in improving human and physical capital over the past few decades. Within the region, India has become a global economic powerhouse with enormous development potential ahead. To foster human and economic development, India has shown a strong commitment to the Sustainable Development Goals (SDG) Agenda. This paper focuses on the medium-term development challenges that South Asia, and in particular India, faces to ensure substantial progress along the SDGs by 2030. We estimate the additional spending needed in critical areas of human capital (health and education) and physical capital (water and sanitation, electricity, and roads). We document progress on these five sectors for India relative to other South Asian countries and discuss implications for policy and reform.
Keywords:
Sustainable Development Goals (SDGs); Human Capital; Infrastructure; India; spending estimation; health outcome; spending challenge; physical capital; SDG sector; Sustainable Development Goals (SDG); Electricity; South Asia
Cover IMF Working Papers
House Prices and Macroprudential Policies: Evidence from City-level Data in India
This paper examines the efficacy of macroprudential policies in addressing housing prices in a developing country while underscoring the importance of fundamental factors. The estimated models using city-level data for India suggest a strong influence of fundamental factors in driving housing prices. There is compelling evidence of the effectiveness of macroprudential tools viz., Loan-to-value (LTV) ratio, risk weights, and provisioning requirements, in influencing housing price movements. A granular analysis suggests an even stronger impact on housing prices of a change in the regulatory LTV ratio for large-sized vis-à-vis small-sized mortgages, which buttresses their potency in fighting house price speculations. A tightening of the risk weights on the housing assets of banks causes significant downward pressure on house prices. Similarly, regulatory changes in standard asset provisioning on housing loans also influence house prices.
Keywords:
bank credit; macroprudential policies; WP; house price; LTV ratio; construction cost index; housing price; asset price; housing loan
Cover IMF Working Papers
How Should We Measure City Size? Theory and Evidence Within and Across Rich and Poor Countries
Remi Jedwab
,
Mr. Prakash Loungani
, and
Anthony Yezer
It is obvious that holding city population constant, differences in cities across the world are enormous. Urban giants in poor countries are not large using measures such as land area, interior space or value of output. These differences are easily reconciled mathematically as population is the product of land area, structure space per unit land (i.e., heights), and population per unit interior space (i.e., crowding). The first two are far larger in the cities of developed countries while the latter is larger for the cities of developing countries. In order to study sources of diversity among cities with similar population, we construct a version of the standard urban model (SUM) that yields the prediction that the elasticity of city size with respect to income could be similar within both developing countries and developed countries. However, differences in income and urban technology can explain the physical differences between the cities of developed countries and developing countries. Second, using a variety of newly merged data sets, the predictions of the SUM for similarities and differences of cities in developed and developing countries are tested. The findings suggest that population is a sufficient statistic to characterize city differences among cities within the same country, not across countries.
Keywords:
WP; per capita income; economic development; density function; low income; Urbanization; Cities; Urban Giants; Population; Standard Urban Model; Measurement; Urban Technology; Building Heights; Sprawl; Housing; Transportation; income elasticity; building height; Income; Wages; Housing prices; Global
Cover IMF Working Papers
Trade Liberalization in Peru: Adjustment Costs Amidst High Labor Mobility
Elin Baldárrago
and
Mr. Gonzalo Salinas
While trade integration has been an engine of global growth and prosperity, as suggested by theory, some sectors have been negatively affected by increased import competition. We test if this negative effect is significant in a context of high intranational migration, as theory indicates that labor mobility could reduce it. We focus on the 2004-14 period of trade liberalization in Peru (a major beneficiary of trade integration), which allows for methodological improvements relative to similar studies. We find that districts competing with liberalized imports experienced significantly lower growth in consumption per capita despite some emigration in response to increased import competition. This underscores the need to support the “losers of trade liberalization” even amidst high labor mobility.
Keywords:
WP; tariff; liberalization; import; District tariff reduction; Trade Liberalization; Poverty; Peru; tariff reduction; import tariff; district tariff indicator; District level tariff; District tariff; MFN tariff; tariff barrier; poverty gap; imports-competition channel; barriers coverage; tariff line; tariff measure; Tariffs; Imports; Labor mobility; Global; South America
Cover IMF Working Papers
Structural Reforms and Regional Convergence
Mr. Antonio Spilimbergo
and
Ms. Natasha X Che
Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected labor market reforms facilitate regional convergence. However, these reforms have mixed effects on the growth of regions closer to the country’s development frontier. We also document that regional income disparity and average income are inversely correlated across countries so that speeding up regional convergence increases national income. We also present a theoretical model to discuss these results.
Keywords:
WP; Structural reforms; regional convergence; economic growth; income inequality; frontier region; cross-region mobility; region j; growth rate; development frontier; EU sample; Euro area debt crisis; development level; GDP variable; part of the country; country frontier; capital intensity level; Labor taxes; Minimum wages; Productivity; Tax wedge; Global
Cover IMF Working Papers
Sources of Corporate Profits in India: Business Dynamism or Advantages of Entrenchment?
Michael Walton
,
Anusha Nath
, and
Mr. Ashoka Mody
Some see India’s corporate sector as the fundamental driver of recent and future prosperity. Others see it as a source of excessive market power, personal enrichment, and influence over the State, with an ultimately distorting influence. To inform this debate, this paper analyses the correlates of profitability of firms listed on the Bombay Stock Exchange, covering a dynamic period-in terms of firm entry and growth-from the early 1990s to the late 2000s. Overall, the results do not provide support for the systematic exercise of market power via the product market. At least for this period, the story is more consistent with a competitive and dynamic business sector, despite the continued dominance of business houses and public sector firms in terms of sales and assets. Those with opposing views can, with justification, argue that our analysis does not cover influences, such as corporate governance and state-corporate relations, which may paint a less flattering picture of the corporate sector’s role. Those broader themes deserve further attention.
Keywords:
WP; business house; profit rate; BSE firm; sales growth; market power; Corporate sector; India; profitability; growth; firm growth; Housing; Business enterprises; Competition; Global
Cover IMF Working Papers
Factor Immobility and Regional Impacts of Trade Liberalization Evidenceon Poverty From India
Petia Topalova
This paper uses the 1991 Indian trade liberalization to measure the impact of trade liberalization on poverty, and to examine the mechanisms underpinning this impact. Variation in sectoral composition across districts and liberalization intensity across production sectors allows a difference-in-difference approach. Rural districts, in which production sectors more exposed to liberalization were concentrated, experienced slower decline in poverty and lower consumption growth. The impact of liberalization was most pronounced among the least geographically mobile, at the bottom of the income distribution, and in Indian states where inflexible labor laws impeded factor reallocation across sectors.
Keywords:
WP; trade policy; dependent variable; labor market; Poverty; Trade Liberalization; India; Tariff; poverty rate; wage premia; post liberalization indicator; production sector; trade liberalization link; D. trade liberalization; trade liberalization Evidenceon poverty; liberalization dummy; poverty-tariff link; analysis of the trade liberalization-poverty link; trade reform; Tariffs; Consumption; Europe
Cover IMF Survey
IMF Survey, Volume 37, Issue 04
International Monetary Fund. External Relations Dept.
IMF-World Bank Spring Meetings, Ministers Resolve to Counter Slowdown, Combat Food Hikes, Credit Crisis is Broadening, World Economic Outlook, IMFC Communiqué, Quota and Voice Reform, IMF's New Income Model, Best Practices for Sovereign Funds, Managing Housing Sector Cycles, Commodity Price Boom, African Economic Outlook, Asian Economic Outlook, LATAM Economic Outlook, News Briefs.
Keywords:
SV; commodity; price; economy; IMF Deputy managing director Takatoshi Kato; IMF's executive board; IMF survey; commodity export; IMF reform process; Housing prices; Inflation; Housing; Commodity prices; Personal income; Global; Asia and Pacific; Sub-Saharan Africa; Africa; Middle East
Cover IMF Survey
Bulletin du FMI vol. 37, n° 4, avril 2008
International Monetary Fund. External Relations Dept.
Réunions de printemps FMI–Banque mondiale, Soutenir la croissance et freiner la hausse des prix alimentaires, Selon le FMI, la crise du crédit s’étend, Perspectives mondiales, Communiqué du CMFI, Quotes-parts et représentation, FMI : nouveau modèle de revenu, Fonds souverains : pratiques optimales, Gérer les cycles de l’immobilier, Boom des produits de base, Perspectives africaines, Perspectives asiatiques, Perspectives latino-américaines, L’actualité en bref
Keywords:
SV; commodity; price; economy; IMF Deputy managing director Takatoshi Kato; IMF's executive board
Cover IMF Survey
Boletín del FMI Vol.37, No.4 abril de 2008
International Monetary Fund. External Relations Dept.
Reuniones de Primavera del FMI y el Banco Mundial, Los ministros resuelven contrarrestar el alza de los alimentos, La crisis crediticia se extiende, Perspectivas económicas, Comunicado del CMFI, Cuotas y representación, Nuevo modelo de ingresos del FMI, Prácticas óptimas de los fondos soberanos, Ciclos del sector de la vivienda, Auge de precios de las materias primas, Perspectivas económicas de África, Perspectivas económicas de Asia, Perspectivas económicas de América Latina, Notas breves
Keywords:
SV; commodity; price; economy; IMF Deputy managing director Takatoshi Kato; IMF's executive board