Simrit Kaur | University of Delhi (original) (raw)

Papers by Simrit Kaur

International Journal of Social Economics

PurposeThe purpose of this study is to analyze and empirically test the impact of Economic Freedo... more PurposeThe purpose of this study is to analyze and empirically test the impact of Economic Freedom [(EF) measured by size of the government] and inequality on environmental pollutants in addition to macroeconomic variables like per capita GDP, governance indicators, etc. along with existence of non-linear (Kuznets) postulation between economic growth and per capita emissions.Design/methodology/approachThe paper examines the select Asian nations' data attributes, first qualitatively using correlation data technique, followed by empirical testing using differenced Generalized Methods of Moments (GMM). Using the data of selected Asian countries for the period from 1981 to 2016, the authors have applied a dynamic panel technique.FindingsThe key findings that emerge from the study are as follows: first, there is weak evidence for the existence of the Kuznets curve based on the empirical results; second, the results indicate that increased EF (by lower government size) could enable to...

Indian Journal of Finance, 2020

Transforming Government: People, Process and Policy, 2022

Purpose Despite being a global public–private partnerships (PPPs) leader, the Asian region is cha... more Purpose Despite being a global public–private partnerships (PPPs) leader, the Asian region is characterised by a wide PPP-divide, wherein select countries attract majority of PPP projects, while other countries fail to attract the requisite PPP investments. Against this background, the purpose of this study is to investigate the determinants of PPP projects in Asia. Design/methodology/approach Using quantitative methods on secondary data, this study analyses the macroeconomic determinants of value and number of PPPs in Asia for the period 2010–2019. The methodology relies on panel fixed effects, random effects, two-step system generalised method of moments and negative binomial regression. Findings Results underline the importance of the country’s experience with PPPs, physical infrastructure, financial sector development, market conditions, institutional quality and political stability in attracting PPP projects. Practical implications Identification of the determinants of PPPs wil...

This paper focuses on the various modalities of reform options available to Indian policy makers ... more This paper focuses on the various modalities of reform options available to Indian policy makers in order to improve the performance of its public sector enterprises. Specifically, it discusses three such reform options viz. Divestiture (whereby private ownership is inducted in publicly owned enterprises), Greenfield Privatization (whereby private sector is allowed to come and compete in areas hitherto reserved for public sector), and Cold Privatization (that is granting greater autonomy to managers of public sector enterprises by making them sign Memorandum Of Understanding). The paper concludes by stating that factors which enhance the level of competition in an economy may be a more important determinant of efficiency than a change of ownership per se. The emphasis, therefore must be towards creating a more competitive environment than merely transferring the ownership of assets from the public to the private sector.

For too long the people of Pakistan and India have been held hostage to a conflict that should ha... more For too long the people of Pakistan and India have been held hostage to a conflict that should have been resolved decades ago. As a result, countless lives have been lost, millions of people have been kept in a state of insecurity and poverty, economic opportunities have been squandered, and the goodwill of cultural exchanges has been sacrificed. This sorry state of affairs has global implications, especially since both countries are nuclear powers. Too much ransom has been paid. The time has come to forge a new way forward, based on direct people-to-people cooperation that serves the mutual benefit of both countries, the region, and the world. With this mind, we, the five authors of this essay, came together for a week at Bentley University in Massachusetts, USA, to discuss how we in business and academia could work to advance peace at the direct people-to-people level. What follows are our initial thoughts.

What's fuelling the food prices? While several reasons abound, the role of fuel prices in fue... more What's fuelling the food prices? While several reasons abound, the role of fuel prices in fuelling food prices cannot be negated. Evidence suggests that there is an increasing co-movement between world oil prices and agricultural commodity prices, with rising demand for bio-fuels also impacting the relationship. This has reinstated the interest in determining the price transmission from world crude oil prices to that of agricultural commodities. In this context, the present study analyzes the fuel-food price relationship in the Indian context. In addition to food and fuel prices, both domestic and international, two macro-economic variables, viz., inflation and real effective exchange rates have been analyzed. Using monthly time series data over the period April 1994 to December 2014, the long -and short term interactions between the variables have been estimated using Toda-Yamamoto causality and Johansen cointegration tests. Additionally, using VAR estimates, the impulse respon...

in the world. Increased occurrence of temperature extremes, increase in the number of warm days a... more in the world. Increased occurrence of temperature extremes, increase in the number of warm days and nights, altered rainfall patterns, increased frequency of deficit monsoons and heavy precipitation events have been observed in the country. Further, these trends are projected to continue. In this context, the study discusses the climate change trends and their impact on agriculture and food security in the country. The empirical analysis using Ordinary Least Squares (OLS) and Instrumental Variables ((IV) regressions shows that climate especially temperatures adversely impact both agriculture and food security. The importance of promotion of appropriate strategies to address agricultural productivity especially enhanced irrigation facilities, infrastructure and adoption of direct interventionist measures addressing food insecurity in the country is underlined by the research article.

What is the relationship between economic freedom and larger freedoms? Arguably, if economic free... more What is the relationship between economic freedom and larger freedoms? Arguably, if economic freedom (EF) promotes growth and if it trickles down EF promotes larger freedoms (e.g. a healthy and productive life, free from want and deprivation). However, higher EF by definition entails lower government interventions in sectors such as health and education, thereby curtailing some aspects of larger freedoms. Thus ambiguity exists with respect to the effect of EF on larger freedoms. Therefore, the basic objective of the paper is to examine how various aspects of economic freedom impinge on larger freedoms. The econometric analysis suggests that higher levels of EF promote not only higher levels of GDP per capita but also impact larger freedoms favourably. However, results also confirm that higher levels of EF associated with few of its sub-components, particularly lower government consumption expenditures and lower transfers and subsidies, affect larger freedoms adversely. Since the rol...

Indian Journal of Finance

World Scientific Series in Grand Public Policy Challenges of the 21st Century, 2018

What is the relationship between social welfare, safety nets and economic freedom? Arguably, if e... more What is the relationship between social welfare, safety nets and economic freedom? Arguably, if economic freedom (EF) promotes growth and if it trickles down EF promotes larger freedoms (e.g. a healthy and productive life, free from want and deprivation). However, higher EF by definition entails lower government interventions in sectors such as provision of safety nets, health and education, thereby curtailing some aspects of larger freedoms. Thus ambiguity exists with respect to the effect of EF on larger freedoms. Given that developing countries account for many poor, have malnourished children, face a decline in per capita availability of food grains, with a sharp rise in farmer's suicide (for instance in India), providing safety nets is essential for enhancing larger freedoms. However, with the initiation of economic reforms favouring market oriented policies, the role of the government in investment decisions has diminished. The econometric analysis suggests that higher lev...

Vision: The Journal of Business Perspective

Though the demand for industrial energy by manufacturing firms has witnessed substantial growth, ... more Though the demand for industrial energy by manufacturing firms has witnessed substantial growth, not enough evidence exists regarding the energy intensity trends of such firms. Furthermore, empirical evidence on the determinants of energy intensity trends or even the energy intensity levels per se remains limited. Given this gap, the present article analyses the determinants of energy intensity trends (and also the energy intensity levels) of Indian manufacturing firms over the period 2007–2017. This study has been undertaken with special reference to the metallic industry. A sample of 41 firms is analysed by grouping them into 3 categories, namely firms with increasing energy intensity trends (IEITs), decreasing energy intensity trends (DEITs) and relatively constant energy intensity trends (CEITs) over the stated period. Multinomial logistic model (MLM) is employed to examine the determinants of energy intensity trends for the three categories. Our pertinent findings are as follow...

The workfare scheme the National Rural Employment Guarantee Scheme (NREGS) and the direct food su... more The workfare scheme the National Rural Employment Guarantee Scheme (NREGS) and the direct food subsidy program the Targeted Public Distribution Scheme (TPDS) represent two alternative social safety nets instituted in India as anti-poverty measures. This paper examines whether from the point of view of individual households the two programs are substitutes or complements, as this will shed light on the appropriateness of the design of the two programs. Based on primary household data collected from the Indian states of Rajasthan and Madhya Pradesh (MP), we show that in Rajasthan, a large percentage of households consider TPDS and NREGS programs to be substitutes for each other, while in MP, the households often perceive the two programs as complements. This holds irrespective of household size, education level, size of land-holding, social group, transaction costs and poverty status. We further isolate the correlates of participation for households that consider the two programs to b...

International Trade, Politics and Development

PurposeBased on the hypothesis of the environmental Kuznets curve (EKC), the purpose of this stud... more PurposeBased on the hypothesis of the environmental Kuznets curve (EKC), the purpose of this study is to investigate the relationship between environmental pollutants (as measured by CO2 emissions) and GDP for India, over the period 1980–2012. The presence of an inverted “U” shape relationship is examined while controlling for factors such as the degree of trade openness, foreign direct investment, oil prices, the legal system and industrialization.Design/methodology/approachTo verify whether the EKC follows a linear, quadratic or polynomial form, autoregressive distributed lag (ARDL) bounds testing approach for cointegration with structural breaks is adopted. The annual time series data for carbon emissions (CO2), economic growth (GDP), industrial development (industrialization), foreign direct investment and trade openness have been obtained from World Development Indicators online database. Crude oil price (international price index) for the period is collected from the Internati...

Transforming Government: People, Process and Policy

Purpose Despite being a global public–private partnerships (PPPs) leader, India faces a vast PPP ... more Purpose Despite being a global public–private partnerships (PPPs) leader, India faces a vast PPP divide at a sub-national level, wherein a few states receive the majority of PPP projects, whereas other states face severe issues in attracting PPP investments. This necessitates the identification of factors that make some states attractive to PPP investors. The purpose of this study is to construct a “PPP readiness index” at the Indian state-level, which aims to assess the readiness of states for the diffusion of PPPs. Design/methodology/approach Using a quantitative method on secondary data, the study scores 17 Indian states on dimensions such as experience with PPPs, physical infrastructure, financial sector development, market conditions, institutional quality and political stability and fiscal constraints for each of the years during 2009–2018. Principal component analysis is used for assigning weights to the dimensions, thereby arriving at the composite index. Findings Results hi...

International Journal of Social Economics

PurposeSince finance is an efficacious instrument for economic development, social inclusion and ... more PurposeSince finance is an efficacious instrument for economic development, social inclusion and women empowerment, the present paper examines the determinants of accessing institutional and non-institutional finance across male- and female-headed households in rural India.Design/methodology/approachMultinomial logistic regression is applied for categorizing households' accessing finance in four categories, namely Only Institutional Finance (IF), Only Non-institutional Finance (NIF), Both Sources of Finance (BF) and Neither Source of Finance (N). Both household and state-level determinants have been analysed. Household data set is sourced from the Situation Assessment Survey (NSSO, 70th round) and state-level data sets from Basic Road Statistics 2016, Agricultural Statistics at a Glance 2016, Rainfall Statistics of India 2014, database on Indian Economy RBI and Census 2011. Econometric regressions have been evaluated for female-headed households (FHHs), male-headed households (M...

International Journal of Social Economics

PurposeThe purpose of this study is to analyze and empirically test the impact of Economic Freedo... more PurposeThe purpose of this study is to analyze and empirically test the impact of Economic Freedom [(EF) measured by size of the government] and inequality on environmental pollutants in addition to macroeconomic variables like per capita GDP, governance indicators, etc. along with existence of non-linear (Kuznets) postulation between economic growth and per capita emissions.Design/methodology/approachThe paper examines the select Asian nations' data attributes, first qualitatively using correlation data technique, followed by empirical testing using differenced Generalized Methods of Moments (GMM). Using the data of selected Asian countries for the period from 1981 to 2016, the authors have applied a dynamic panel technique.FindingsThe key findings that emerge from the study are as follows: first, there is weak evidence for the existence of the Kuznets curve based on the empirical results; second, the results indicate that increased EF (by lower government size) could enable to...

Indian Journal of Finance, 2020

Transforming Government: People, Process and Policy, 2022

Purpose Despite being a global public–private partnerships (PPPs) leader, the Asian region is cha... more Purpose Despite being a global public–private partnerships (PPPs) leader, the Asian region is characterised by a wide PPP-divide, wherein select countries attract majority of PPP projects, while other countries fail to attract the requisite PPP investments. Against this background, the purpose of this study is to investigate the determinants of PPP projects in Asia. Design/methodology/approach Using quantitative methods on secondary data, this study analyses the macroeconomic determinants of value and number of PPPs in Asia for the period 2010–2019. The methodology relies on panel fixed effects, random effects, two-step system generalised method of moments and negative binomial regression. Findings Results underline the importance of the country’s experience with PPPs, physical infrastructure, financial sector development, market conditions, institutional quality and political stability in attracting PPP projects. Practical implications Identification of the determinants of PPPs wil...

This paper focuses on the various modalities of reform options available to Indian policy makers ... more This paper focuses on the various modalities of reform options available to Indian policy makers in order to improve the performance of its public sector enterprises. Specifically, it discusses three such reform options viz. Divestiture (whereby private ownership is inducted in publicly owned enterprises), Greenfield Privatization (whereby private sector is allowed to come and compete in areas hitherto reserved for public sector), and Cold Privatization (that is granting greater autonomy to managers of public sector enterprises by making them sign Memorandum Of Understanding). The paper concludes by stating that factors which enhance the level of competition in an economy may be a more important determinant of efficiency than a change of ownership per se. The emphasis, therefore must be towards creating a more competitive environment than merely transferring the ownership of assets from the public to the private sector.

For too long the people of Pakistan and India have been held hostage to a conflict that should ha... more For too long the people of Pakistan and India have been held hostage to a conflict that should have been resolved decades ago. As a result, countless lives have been lost, millions of people have been kept in a state of insecurity and poverty, economic opportunities have been squandered, and the goodwill of cultural exchanges has been sacrificed. This sorry state of affairs has global implications, especially since both countries are nuclear powers. Too much ransom has been paid. The time has come to forge a new way forward, based on direct people-to-people cooperation that serves the mutual benefit of both countries, the region, and the world. With this mind, we, the five authors of this essay, came together for a week at Bentley University in Massachusetts, USA, to discuss how we in business and academia could work to advance peace at the direct people-to-people level. What follows are our initial thoughts.

What's fuelling the food prices? While several reasons abound, the role of fuel prices in fue... more What's fuelling the food prices? While several reasons abound, the role of fuel prices in fuelling food prices cannot be negated. Evidence suggests that there is an increasing co-movement between world oil prices and agricultural commodity prices, with rising demand for bio-fuels also impacting the relationship. This has reinstated the interest in determining the price transmission from world crude oil prices to that of agricultural commodities. In this context, the present study analyzes the fuel-food price relationship in the Indian context. In addition to food and fuel prices, both domestic and international, two macro-economic variables, viz., inflation and real effective exchange rates have been analyzed. Using monthly time series data over the period April 1994 to December 2014, the long -and short term interactions between the variables have been estimated using Toda-Yamamoto causality and Johansen cointegration tests. Additionally, using VAR estimates, the impulse respon...

in the world. Increased occurrence of temperature extremes, increase in the number of warm days a... more in the world. Increased occurrence of temperature extremes, increase in the number of warm days and nights, altered rainfall patterns, increased frequency of deficit monsoons and heavy precipitation events have been observed in the country. Further, these trends are projected to continue. In this context, the study discusses the climate change trends and their impact on agriculture and food security in the country. The empirical analysis using Ordinary Least Squares (OLS) and Instrumental Variables ((IV) regressions shows that climate especially temperatures adversely impact both agriculture and food security. The importance of promotion of appropriate strategies to address agricultural productivity especially enhanced irrigation facilities, infrastructure and adoption of direct interventionist measures addressing food insecurity in the country is underlined by the research article.

What is the relationship between economic freedom and larger freedoms? Arguably, if economic free... more What is the relationship between economic freedom and larger freedoms? Arguably, if economic freedom (EF) promotes growth and if it trickles down EF promotes larger freedoms (e.g. a healthy and productive life, free from want and deprivation). However, higher EF by definition entails lower government interventions in sectors such as health and education, thereby curtailing some aspects of larger freedoms. Thus ambiguity exists with respect to the effect of EF on larger freedoms. Therefore, the basic objective of the paper is to examine how various aspects of economic freedom impinge on larger freedoms. The econometric analysis suggests that higher levels of EF promote not only higher levels of GDP per capita but also impact larger freedoms favourably. However, results also confirm that higher levels of EF associated with few of its sub-components, particularly lower government consumption expenditures and lower transfers and subsidies, affect larger freedoms adversely. Since the rol...

Indian Journal of Finance

World Scientific Series in Grand Public Policy Challenges of the 21st Century, 2018

What is the relationship between social welfare, safety nets and economic freedom? Arguably, if e... more What is the relationship between social welfare, safety nets and economic freedom? Arguably, if economic freedom (EF) promotes growth and if it trickles down EF promotes larger freedoms (e.g. a healthy and productive life, free from want and deprivation). However, higher EF by definition entails lower government interventions in sectors such as provision of safety nets, health and education, thereby curtailing some aspects of larger freedoms. Thus ambiguity exists with respect to the effect of EF on larger freedoms. Given that developing countries account for many poor, have malnourished children, face a decline in per capita availability of food grains, with a sharp rise in farmer's suicide (for instance in India), providing safety nets is essential for enhancing larger freedoms. However, with the initiation of economic reforms favouring market oriented policies, the role of the government in investment decisions has diminished. The econometric analysis suggests that higher lev...

Vision: The Journal of Business Perspective

Though the demand for industrial energy by manufacturing firms has witnessed substantial growth, ... more Though the demand for industrial energy by manufacturing firms has witnessed substantial growth, not enough evidence exists regarding the energy intensity trends of such firms. Furthermore, empirical evidence on the determinants of energy intensity trends or even the energy intensity levels per se remains limited. Given this gap, the present article analyses the determinants of energy intensity trends (and also the energy intensity levels) of Indian manufacturing firms over the period 2007–2017. This study has been undertaken with special reference to the metallic industry. A sample of 41 firms is analysed by grouping them into 3 categories, namely firms with increasing energy intensity trends (IEITs), decreasing energy intensity trends (DEITs) and relatively constant energy intensity trends (CEITs) over the stated period. Multinomial logistic model (MLM) is employed to examine the determinants of energy intensity trends for the three categories. Our pertinent findings are as follow...

The workfare scheme the National Rural Employment Guarantee Scheme (NREGS) and the direct food su... more The workfare scheme the National Rural Employment Guarantee Scheme (NREGS) and the direct food subsidy program the Targeted Public Distribution Scheme (TPDS) represent two alternative social safety nets instituted in India as anti-poverty measures. This paper examines whether from the point of view of individual households the two programs are substitutes or complements, as this will shed light on the appropriateness of the design of the two programs. Based on primary household data collected from the Indian states of Rajasthan and Madhya Pradesh (MP), we show that in Rajasthan, a large percentage of households consider TPDS and NREGS programs to be substitutes for each other, while in MP, the households often perceive the two programs as complements. This holds irrespective of household size, education level, size of land-holding, social group, transaction costs and poverty status. We further isolate the correlates of participation for households that consider the two programs to b...

International Trade, Politics and Development

PurposeBased on the hypothesis of the environmental Kuznets curve (EKC), the purpose of this stud... more PurposeBased on the hypothesis of the environmental Kuznets curve (EKC), the purpose of this study is to investigate the relationship between environmental pollutants (as measured by CO2 emissions) and GDP for India, over the period 1980–2012. The presence of an inverted “U” shape relationship is examined while controlling for factors such as the degree of trade openness, foreign direct investment, oil prices, the legal system and industrialization.Design/methodology/approachTo verify whether the EKC follows a linear, quadratic or polynomial form, autoregressive distributed lag (ARDL) bounds testing approach for cointegration with structural breaks is adopted. The annual time series data for carbon emissions (CO2), economic growth (GDP), industrial development (industrialization), foreign direct investment and trade openness have been obtained from World Development Indicators online database. Crude oil price (international price index) for the period is collected from the Internati...

Transforming Government: People, Process and Policy

Purpose Despite being a global public–private partnerships (PPPs) leader, India faces a vast PPP ... more Purpose Despite being a global public–private partnerships (PPPs) leader, India faces a vast PPP divide at a sub-national level, wherein a few states receive the majority of PPP projects, whereas other states face severe issues in attracting PPP investments. This necessitates the identification of factors that make some states attractive to PPP investors. The purpose of this study is to construct a “PPP readiness index” at the Indian state-level, which aims to assess the readiness of states for the diffusion of PPPs. Design/methodology/approach Using a quantitative method on secondary data, the study scores 17 Indian states on dimensions such as experience with PPPs, physical infrastructure, financial sector development, market conditions, institutional quality and political stability and fiscal constraints for each of the years during 2009–2018. Principal component analysis is used for assigning weights to the dimensions, thereby arriving at the composite index. Findings Results hi...

International Journal of Social Economics

PurposeSince finance is an efficacious instrument for economic development, social inclusion and ... more PurposeSince finance is an efficacious instrument for economic development, social inclusion and women empowerment, the present paper examines the determinants of accessing institutional and non-institutional finance across male- and female-headed households in rural India.Design/methodology/approachMultinomial logistic regression is applied for categorizing households' accessing finance in four categories, namely Only Institutional Finance (IF), Only Non-institutional Finance (NIF), Both Sources of Finance (BF) and Neither Source of Finance (N). Both household and state-level determinants have been analysed. Household data set is sourced from the Situation Assessment Survey (NSSO, 70th round) and state-level data sets from Basic Road Statistics 2016, Agricultural Statistics at a Glance 2016, Rainfall Statistics of India 2014, database on Indian Economy RBI and Census 2011. Econometric regressions have been evaluated for female-headed households (FHHs), male-headed households (M...