Dr. Reetu Verma - Profile on Academia.edu (original) (raw)

Papers by Dr. Reetu Verma

Using World Bank (2020), this paper estimates microeconomic utility-based elasticity measure of p... more Using World Bank (2020), this paper estimates microeconomic utility-based elasticity measure of poverty-loss and provides better understanding of the distress of poverty and possible policy directions in rural and urban areas for India and the People's Republic of China (PRC). This paper deviates from the conventional use of overly simple head counting. Utility-based welfare point elasticity estimates show substantial welfare gains for both countries, dominated by growth contributing 90%, relative to inequality reductions contributing 10%. Rural India deviates, showing a welfare gain with balanced growth-inequality promotion. Subsequent poverty-loss estimates show potentially declining disutility of poverty in both countries and sectors, with reducing inequality contributing 70%, relative to growth's 30%. The elasticity estimates presented here show that reducing rural and urban inequality can best reduce the distress of the poor. By realigning priorities from promoting future urban growth to reducing urban and rural inequality can lead to substantial reductions in poverty-induced disutility.

Demand for Money in Sri Lanka: A Cointegration Approach

The Indian Economic Journal

Can reducing inequality reduce the disutility of the poor?

Applied Economics Letters, Jan 10, 2022

Urban poverty, growth, and inequality: A needed paradigm shift?

Review of Development Economics, 2022

Internal Migration, Urbanization and Poverty in Asia: Dynamics and Interrelationships, 2019

2018 IEEE International Conference on Teaching, Assessment, and Learning for Engineering (TALE), 2018

Peer Assisted Study Sessions (PASS) is a student let program designed to support students transit... more Peer Assisted Study Sessions (PASS) is a student let program designed to support students transitioning into university and tackling traditionally difficult first year core subjects. The model is collaborative with student leaders facilitating activities and discussions driven by student need. Consistently research has found that students can benefit, in terms of increased grades, from attending PASS, however findings for online delivery modes are mixed. These studies have generally only compared face to face (F2F) with online modes of PASS-like programs for one subject. No study has compared different subjects from varying disciplines to investigate if the benefits of PASS online are the same for all students. PASS at UOW conducted a pilot study of synchronous online sessions, tested across three different first year university subjects. A total of 1.471 students enrolled into these subjects, with 409 attending some form of PASS. Result revealed PASS students gained significantly higher average final marks compared to students who did not attend any type of PASS, regardless off subject. However, results for PASS varied depending upon mode of delivery engaged in (F2F or online) and also with subject. Although not all differences were statistically significant, trends suggest a student/subject interaction that may vary the amount of benefit gained from PASS online formats. Possible drivers for these results are discussed as well as consideration given to cohort effects and student skills for online learning modes.

Traditionally difficult subjects, such as statistics, offer a substantial learning challenge for ... more Traditionally difficult subjects, such as statistics, offer a substantial learning challenge for students in their first year of university. Supplemental instruction or Peer Assisted Study Sessions (PASS) can provide students with benefits including increased confidence and grades. This project sought to compare face-to-face (F2F) sessions of PASS for the first-year psychology statistics subject PSYC123 with an online version. Employing a mixed-methods approach, including feedback from both students and PASS leaders, results indicated that online students found the platform easy to use and navigate, believing they had benefited from the sessions. All PASS students achieved higher mean grades compared to students who did not attend. PASS Online students also saw increased grades compared to F2F, although this difference was not statistically significant. PASS Leaders found that more time was needed in the online version compared with F2F, but felt that the online sessions allowed for...

Advances in Science, Technology and Engineering Systems Journal, 2020

The objective of this paper is to examine the short and the long-run interrelationshipsbetween se... more The objective of this paper is to examine the short and the long-run interrelationshipsbetween sectoral savings and investment, foreign capital inflows and their roles in thegrowth process for India for the period 1950 to 2005. This paper uses theAutoregressive Distributed Lag (ARDL) procedure to test for both the long-run andshort-run effects between the eight variables, along with any endogenously detectedstructural breaks. This is in response to shortcomings relating to previous studies whichpredominantly analyse savings and investment aggregates only, over long time periodswhich contain structural changes, using bivariate estimation techniques, which areshort-run in nature. The analysis firstly tests for the short-run dynamic effects of savingsand investment on growth (consistent with the Solow-Swan model) and the long-runeffects of savings and investment on growth (in line with the endogenous AK models ofgrowth).The empirical estimations indicate that none of the three sectoral measures of savingsand investment have any positive impact on GDP growth in India. This result is robustin the short-run and the long-run, providing no evidence for both the short-run dynamicaffect of savings and investment on growth (the Solow model) and the long-run(permanent) affect of savings and investment on growth (the AK model of growth) inIndia.Foreign capital inflows is the only variable found to affect GDP growth, in the both theshort and long-run. A feedback effect exists between foreign capital inflows and GDPgrowth, although it is much smaller than from GDP growth to foreign capital inflows.The Carroll-Weil hypothesis and a strong accelerator effect of GDP are supported in theIndian context. GDP growth is affecting household and private savings in the long-run;and GDP has a large effect on household investment in the long-run and publicinvestment in the short-run.There is also evidence that household savings has a positive effect on private sectorinvestment in the long-run; and public sector investment in both the long and short-run.While the direction of these relationships from savings to investment is consistent withthe growth models, there is the serious missing link from investment to economicgrowth.Overall, the findings do not support policies designed to increase household, private orpublic savings and investment in order to promote economic growth in India. This isfurther strengthened by the findings that GDP has large elastic affects on householdinvestment in the long-run and public investment in the short-run. Further to this, publicinvestment has a negative impact on GDP growth in the long-run; however it is onlysignificant at the ten percent level. There is therefore, no statistical evidence of thepopular endogenous explanation that investment is the driver of long-run economicgrowth in India.

2007), Unit Root Tests and Structural Breaks: A Survey with Applications

applications

Demographics, labour mobility and productivity: ABDI working paper 387

This paper considers two major issues that need to be treated as matters of urgency. First, inter... more This paper considers two major issues that need to be treated as matters of urgency. First, internal (within country) migrations in the Asian (ACI) region are mostly undocumented and large. It is shown there are significant differences in wages and human development measures to which migrants will respond. Our first (of two) recommendation(s) is the need to collect better information on migration and for wage premiums and discounts to be estimated across sectors and countries. The second major issue is the emerging demographic imbalances in the form of aging, which will give dependency ratios that have never been experienced in all of recorded human existence. This needs urgent attention and the development of appropriate migration policies. Whilst it is possible to share the burdens of ageing and dependency through migration, this will not happen under present arrangements. Migration cannot continue to be treated differently to trade and finance. A framework needs to be developed to provide a coherent set of policies relating to migration and social welfare, within and across countries in the Asian region. Our second recommendation is for the East Asia Summit (ASEAN+10) to set up a high level working group to consider possible future harmonized migration based policies, bringing together relevant economic, political, social and legal issues. This should encompass the recent ASEAN leadership on the rights of migrant workers and labor work programs. It complements the Summit\u27s focus on education and human resource development and heeds the World Economic Forum\u27s call for Asian leadership in enhancing regional connectivity (expanded to include human resources). As we have argued many times in this paper, increasing the mobility of humans is the best way to not only promote economic efficiency, but to provide freedom and significant improvements in their wellbeing and quality of life

A multivariate analysis of savings, investment, foreign capital inflows and economic growth in India

This paper considers the interdependencies between per worker household, private corporate and pu... more This paper considers the interdependencies between per worker household, private corporate and public sector savings and investment, foreign capital inflows and GDP in a multivariate setting for India. This is in response to shortcomings relating to previous studies which predominantly analyse savings and investment aggregates only, over long time periods which contain structural changes, using bivariate estimation techniques, which are short run in nature.A sectoral model is developed to provide a theoretical basis for the empirical research and to demonstrate the possible complex interdependencies between these variables and sectors. The analysis is applied over the period 1951 to 2005 with two endogenously determined structural breaks occurring in 1966 and 1981. The long run cointegrating relationship is estimated in a multivariate setting using Johansen\u27s procedure to determine which variables are subject to permanent, semi-permanent and transitory shocks according to Pagan and Pesaran\u27s (2008) innovative classification. Consistent with the recent DSGE and structural VAR modelling, a VAR containing these specifications is estimated to determine the short run interdependencies using statistical tests and the analysis of forecast error variance decompositions.The findings show that the causation runs from per worker household savings and investment positively to private corporate savings and then to private corporate investment, which in turn affects household savings and investment. Per worker public investment is found to negatively (with small elasticity) affect GDP, which negatively affects foreign capital inflows, which subsequently negatively affects private corporate savings. These results imply the need to encourage savings, which is being realised with higher growth rates during the recent period of financial deregulation in India. However the offsetting reduction in the rates of growth in investment during the 1990s, the lack of any identified links to output and the apparent negative influence of public investment, means that policy prescriptions to promote economic growth in India are not straightforward

Australian Business Statistics

Tourism industry in Thailand has recently experienced several external shocks such as September 1... more Tourism industry in Thailand has recently experienced several external shocks such as September 11 attacks, SARS outbreak, Bird Flu, Political unrest and the recent global financial crisis which may have a temporary or permanent impact on the number of visitor arrivals to the country. This paper conducts univariate and panel Lagrange Multiplier tests with a break proposed by Lee and Strazicich (2004) and Im, Lee, and Tieslau (2005) to identify the time of the structural break and to determine whether shocks to visitor arrivals to Thailand have a temporary or permanent impact. We use annual data for Thailand's top ten source markets

International Journal of Economics and Business Research, 2017

This study provides evidence on the validity of Wagner's Law on the impact of government spending... more This study provides evidence on the validity of Wagner's Law on the impact of government spending on economic growth in Sri Lanka. To test for stationarity, we use Narayan and Popp's (2010) new Perron-type innovational unit root test; and to test for the long-run relationship, the study uses Hatemi's (2008) Co-integration method. This study finds that a long-run relationship exists between GDP, consumption and investment expenditure. Various policy implications have also emerged from these findings. Studies on the impact of government spending on economic growth in the case of South Asian countries, and particularly for Sri Lanka, are very limited. The study disaggregates public expenditure into its two components and uses advanced methodologies which take into account structural breaks.

Disaggregate analysis of savings and investment, foreign capital inflows and growth in India

There is a large research literature on the roles of domestic savings and investment in promoting... more There is a large research literature on the roles of domestic savings and investment in promoting long run economic growth. This paper attempts to identiy the major interdependencies between savings, investment, foreign capital flows and real output for India since independence. An endogenous growth model of an open economy, with government, is adapted to specify the complicated theoretical interrelationships between sectors of a growing economy. The time series of real household, private corporate and public savings; private and public investment; foreign capital inflows and GDP are tested for stationary under structural change. Empirical estimation of the possible long run and short run relationships are conducted using Johansen's FIML cointegration techniques, which are appropriate for simultaneous systems. Granger causality techniques are then conducted to identify significant links between the sectors. The estimates indicate that there are complicated relationships between the variables in aggregate and at the sectoral level. The evidence clearly shows that it is not only domestic savings which are driving the Indian economy. Private and public investment and foreign capital flows are as important. However their significant interdependencies do not lead to a strong collective influence on real GDP. These findings have important implications for the formulation of appropriate policies relating to budget deficits, households ABSTRACT There is a large research literature on the roles of domestic savings and investment in promoting long run economic growth. This paper attempts to identi the mao or interdependencies between savings, investment, foreign capital flows and real output or In la Slllce III ependence. An en ogenous growth model of an open economy, with government, is adapted to specify the complicated theoretical interrelationships between sectors of a growing eC2!!QP1Y·

This paper considers per worker household, private corporate and public sector savings and invest... more This paper considers per worker household, private corporate and public sector savings and investment, foreign capital inflows and economic growth for India in a multivariate setting for the period 1950-2001. The analysis, uses FIML to estimate the long run cointegrating equilibriums and short run Granger causing dynamics for the non-stationary time series data, which includes endogenously detected structural breaks in 1989 and 1993, consistent with the recent period of financial reforms in India. The estimates do not support the commonly accepted Solow and endogenous models of economic growth. The popular view that increases in savings are a necessary condition for economic growth is supported with the detected strong direct links from per worker household and private corporate savings to output in the long run and sectoral per worker savings to investment links in both the short and long run. This implies the need to encourage savings, which is being realised with the estimated si...

This paper investigates the sustainability of Fiji's trade deficits in the context of recent,... more This paper investigates the sustainability of Fiji's trade deficits in the context of recent, unprecedented fiscal expansion and private sector credit. Employing various tests for determining structural break in the time series and cointegration test, the study results support the existence of a long run equilibrium relationship between exports and imports in Fiji implying that trade deficits are only a short-term phenomena and hence, sustainable in the long run.