Development Economics: Regional & Country Studies eJournal, 2017
The paper proposed setting up of a National Labor Exchange along the lines of National Stock Exch... more The paper proposed setting up of a National Labor Exchange along the lines of National Stock Exchange, Bombay Stock Exchange and Commodity Exchanges Worldwide in order to promote efficiency in the labor market, full employment and generating wealth and positive contributions to GDP. The paper also considers that Labor is a valuable Resource and a Wealth of the Nation, having potential to generate more wealth. The paper opposes the concept of Wages or Price of Labor as in classical economics, but supports Ricardo’s theory of Value and Laissez faire through efficient labor market. The paper opposes Keynesian theory outlining Government Intervention to generate Employment though Monetary Policy changes and Fiscal Policy as Keynesian theory is based on his book on The General Theory of Employment, Interest and Money which was a product of Great Depression of 1931-36 not reflecting normal economic and business conditions in the economy when businesses failed and labor laid off in abundan...
Hedging stakes in sports like cricket is the need of the hour, for it no longer restricts its cla... more Hedging stakes in sports like cricket is the need of the hour, for it no longer restricts its claims to league owners, cricket associations, independent teams and individual players. Financial, economic and social stakes today extend to the general public and governments who happen to patronize the game and its economics in many roles, as spectators, speculators, sponsors, developers and even organizers. The national and international significance of the game is much credited to the revolutionized viewing experience seized by game organizers, stadium owners and information dissemination channels including internet, television, radio and others. Yet returns are not guaranteed for any of the stakeholders. The game just like any economic good is not free from effects of economic and business cycles especially in regions where it continues to be a Veblen good. The paper explains the economics of the game, its origins, development, mathematics and risks and develops a new financial instr...
ABSTRACT. The global financial turmoil have lead to economical contractions. The frequency and ex... more ABSTRACT. The global financial turmoil have lead to economical contractions. The frequency and extent of financial debacles have led the masses to call for reforms in the form of a new "international financial architecture & a self sufficiency model" with improved financial ...
The speech highlights different aspects of International Money Laundering ie size, dimensions, ef... more The speech highlights different aspects of International Money Laundering ie size, dimensions, effects and various steps taken internationally to control it. How the banks can protect their interests for being excessively used in money laundering estimated to be one ...
Real Estate Exchange as to widen the scope of market, facilitate easy trading to avoid wide fluct... more Real Estate Exchange as to widen the scope of market, facilitate easy trading to avoid wide fluctuations in the market. The exchange would also enable price discovery through efficient allocation and distribution of resources. Real Estate exchange is the need of the hour. It would widen the scope of market, introduce greater liquidity, lead to price discovery, efficient allocation and distribution of resources while integrating the real sector with the economic growth and development. We propose an equity and debt participatory note instrument to be devised to distribute the legal and economic right over the real estate. An entire system of institutions and departments is further proposed in the article to enable the real estate exchange to operate and function. Digitalization of land records along with real time transaction recording is also proposed as one of the requisites for setting up an exchange. The exchange proposed aims to achieve allocation, distribution and information e...
The authors gratefully acknowledge the technical su pport of Indian Institute of Finance. We woul... more The authors gratefully acknowledge the technical su pport of Indian Institute of Finance. We would like to thank Robert C. Merton, Fredric Mishk in and Robert Mundell who have inspired me in many ways to work on this complex issue. We would a lso like to convey our thanks our colleagues at Indian Institute of Finance, Saurabh Agarwal (Vice Chairman), Deepak Bansal (Senior Lecturer); Pushpender Singh Raghav (Senior Lectuer); Pankaj K Jain (Lecturer) and for their assistance in preparation of this paper. The views and reviews presented in the paper are vi ews and opinions of the authors, based on our research and experience and do not depict instituti onal or countries views or of the institutions the authors are associated with. All errors and omissio ns are our own.
inspired us in many ways to work on this complex issue. We would like to thank my colleagues at I... more inspired us in many ways to work on this complex issue. We would like to thank my colleagues at Indian Institute of Finance, particularly Mr. Deepak Bansal, Senior Lecturer and Ms. Yamini Agarwal, Lecturer, for their assistance in preparation of this paper.. The views and reviews presented in the paper are views and opinions of the authors, based on our research and experience and do not depict institutional or countries views or of the institutions the authors are associated with. All errors and omissions are our own.
Pushpender Singh Raghav for their assistance in preparation of this paper. The views and reviews ... more Pushpender Singh Raghav for their assistance in preparation of this paper. The views and reviews presented in the paper are views and opinions of the authors, based on our research and experience and do not depict institutional or countries views or of the institutions the authors are associated with. All errors and omissions are our own.
Hedging stakes in cricket is the need of the hour, for it no longer restricts its claims to leagu... more Hedging stakes in cricket is the need of the hour, for it no longer restricts its claims to league owners and cricket associations, independent teams and individual players. Financial, economic and social stakes today extend to the general public and government who happen to patronise the game and its economics in many roles as spectators, speculators, sponsors, developers and even organizers. The national and international significance of the game is much credited to the revolutionized viewing experience seized by game organisers, stadium owners and information dissemination channels including internet, television, radio and others. Yet returns are not guaranteed for any stakeholders, The game just like any economic good is not free from effects of economic and business cycles especially in regions where it continues to be a veblen good. The paper explains the economics of the game, its origins, development, mathematics and risk and develops a new financial instrument- Cricket Derivatives.
AESTIMATIO : the IEB International Journal of Finance, 2018
espanolRevision y analisis de NITI Aayog's India: Agenda de Accion Trianual 2017-18 a 2019- 2... more espanolRevision y analisis de NITI Aayog's India: Agenda de Accion Trianual 2017-18 a 2019- 20, publicada el 24 de agosto de 2017 en Vigyan Bhawan, Delhi. La agenda ha sido muy apreciada en los medios de comunicacion por los economistas, entre otros. Sin embargo, la NITI Aayong deberia haberse centrado en soluciones imaginativas en vez de seguir un camino trillado. La mayoria de las acciones sugeridas tienen base en la opinion mas que en una derivacion logica a la luz tanto de los objetivos como de las limitaciones financieras, tecnicas y de otros recursos y de los retos. La agenda para India establecida por el grupo de expertos mas alto y mas poderoso del pais adolece de varias debilidades. No identifica los objetivos, ni tampoco las limitaciones. Cualquier agenda, en el corto, medio o largo plazo puede incorporar propositos carentes de significado si no identifica los objetivos y las limitaciones. No esta justificado el hecho de dejar la vision a largo plazo para la segunda y ...
_________ Acknowledgement The authors gratefully acknowledge the technical support of Indian Inst... more _________ Acknowledgement The authors gratefully acknowledge the technical support of Indian Institute of Finance. We would like to thank Robert C. Merton, Fredric Mishkin and JD Agarwal who have inspired me in many ways to work on this complex issue. We would like to ...
This paper investigates the calendar anomalies in the Singapore stock market over the recent peri... more This paper investigates the calendar anomalies in the Singapore stock market over the recent period from 1993-2005. Specifically, changes in stock index returns are examined surrounding January (the January effect), on different days of the week (the day-of-the-week effect), around the turn of the month (the turn-of-the-month effect) and before holidays (the pre-holiday effect). The findings reveal that these anomalies have largely disappeared from the Singapore stock market in recent years. The disappearance of these anomalies has important implications for the efficient market hypothesis and the trading behavior of investors.
A great deal of attention has been paid to global economic issues in the last decade. This has be... more A great deal of attention has been paid to global economic issues in the last decade. This has been a natural byproduct of the increasing interdependencies of all national economies and the growth in entrepreneurship and a competitive environment. This has accentuated in recent years due to the emergence of several developing countries as global economic forces, the reorganisation of the production process, change in nature and location of development and finance. One can clearly observe this with the economic growth and self sufficiency attained by India, China and the quick re-emergence from crisis of the ASEAN countries.
Development Economics: Regional & Country Studies eJournal, 2017
The paper proposed setting up of a National Labor Exchange along the lines of National Stock Exch... more The paper proposed setting up of a National Labor Exchange along the lines of National Stock Exchange, Bombay Stock Exchange and Commodity Exchanges Worldwide in order to promote efficiency in the labor market, full employment and generating wealth and positive contributions to GDP. The paper also considers that Labor is a valuable Resource and a Wealth of the Nation, having potential to generate more wealth. The paper opposes the concept of Wages or Price of Labor as in classical economics, but supports Ricardo’s theory of Value and Laissez faire through efficient labor market. The paper opposes Keynesian theory outlining Government Intervention to generate Employment though Monetary Policy changes and Fiscal Policy as Keynesian theory is based on his book on The General Theory of Employment, Interest and Money which was a product of Great Depression of 1931-36 not reflecting normal economic and business conditions in the economy when businesses failed and labor laid off in abundan...
Hedging stakes in sports like cricket is the need of the hour, for it no longer restricts its cla... more Hedging stakes in sports like cricket is the need of the hour, for it no longer restricts its claims to league owners, cricket associations, independent teams and individual players. Financial, economic and social stakes today extend to the general public and governments who happen to patronize the game and its economics in many roles, as spectators, speculators, sponsors, developers and even organizers. The national and international significance of the game is much credited to the revolutionized viewing experience seized by game organizers, stadium owners and information dissemination channels including internet, television, radio and others. Yet returns are not guaranteed for any of the stakeholders. The game just like any economic good is not free from effects of economic and business cycles especially in regions where it continues to be a Veblen good. The paper explains the economics of the game, its origins, development, mathematics and risks and develops a new financial instr...
ABSTRACT. The global financial turmoil have lead to economical contractions. The frequency and ex... more ABSTRACT. The global financial turmoil have lead to economical contractions. The frequency and extent of financial debacles have led the masses to call for reforms in the form of a new "international financial architecture & a self sufficiency model" with improved financial ...
The speech highlights different aspects of International Money Laundering ie size, dimensions, ef... more The speech highlights different aspects of International Money Laundering ie size, dimensions, effects and various steps taken internationally to control it. How the banks can protect their interests for being excessively used in money laundering estimated to be one ...
Real Estate Exchange as to widen the scope of market, facilitate easy trading to avoid wide fluct... more Real Estate Exchange as to widen the scope of market, facilitate easy trading to avoid wide fluctuations in the market. The exchange would also enable price discovery through efficient allocation and distribution of resources. Real Estate exchange is the need of the hour. It would widen the scope of market, introduce greater liquidity, lead to price discovery, efficient allocation and distribution of resources while integrating the real sector with the economic growth and development. We propose an equity and debt participatory note instrument to be devised to distribute the legal and economic right over the real estate. An entire system of institutions and departments is further proposed in the article to enable the real estate exchange to operate and function. Digitalization of land records along with real time transaction recording is also proposed as one of the requisites for setting up an exchange. The exchange proposed aims to achieve allocation, distribution and information e...
The authors gratefully acknowledge the technical su pport of Indian Institute of Finance. We woul... more The authors gratefully acknowledge the technical su pport of Indian Institute of Finance. We would like to thank Robert C. Merton, Fredric Mishk in and Robert Mundell who have inspired me in many ways to work on this complex issue. We would a lso like to convey our thanks our colleagues at Indian Institute of Finance, Saurabh Agarwal (Vice Chairman), Deepak Bansal (Senior Lecturer); Pushpender Singh Raghav (Senior Lectuer); Pankaj K Jain (Lecturer) and for their assistance in preparation of this paper. The views and reviews presented in the paper are vi ews and opinions of the authors, based on our research and experience and do not depict instituti onal or countries views or of the institutions the authors are associated with. All errors and omissio ns are our own.
inspired us in many ways to work on this complex issue. We would like to thank my colleagues at I... more inspired us in many ways to work on this complex issue. We would like to thank my colleagues at Indian Institute of Finance, particularly Mr. Deepak Bansal, Senior Lecturer and Ms. Yamini Agarwal, Lecturer, for their assistance in preparation of this paper.. The views and reviews presented in the paper are views and opinions of the authors, based on our research and experience and do not depict institutional or countries views or of the institutions the authors are associated with. All errors and omissions are our own.
Pushpender Singh Raghav for their assistance in preparation of this paper. The views and reviews ... more Pushpender Singh Raghav for their assistance in preparation of this paper. The views and reviews presented in the paper are views and opinions of the authors, based on our research and experience and do not depict institutional or countries views or of the institutions the authors are associated with. All errors and omissions are our own.
Hedging stakes in cricket is the need of the hour, for it no longer restricts its claims to leagu... more Hedging stakes in cricket is the need of the hour, for it no longer restricts its claims to league owners and cricket associations, independent teams and individual players. Financial, economic and social stakes today extend to the general public and government who happen to patronise the game and its economics in many roles as spectators, speculators, sponsors, developers and even organizers. The national and international significance of the game is much credited to the revolutionized viewing experience seized by game organisers, stadium owners and information dissemination channels including internet, television, radio and others. Yet returns are not guaranteed for any stakeholders, The game just like any economic good is not free from effects of economic and business cycles especially in regions where it continues to be a veblen good. The paper explains the economics of the game, its origins, development, mathematics and risk and develops a new financial instrument- Cricket Derivatives.
AESTIMATIO : the IEB International Journal of Finance, 2018
espanolRevision y analisis de NITI Aayog's India: Agenda de Accion Trianual 2017-18 a 2019- 2... more espanolRevision y analisis de NITI Aayog's India: Agenda de Accion Trianual 2017-18 a 2019- 20, publicada el 24 de agosto de 2017 en Vigyan Bhawan, Delhi. La agenda ha sido muy apreciada en los medios de comunicacion por los economistas, entre otros. Sin embargo, la NITI Aayong deberia haberse centrado en soluciones imaginativas en vez de seguir un camino trillado. La mayoria de las acciones sugeridas tienen base en la opinion mas que en una derivacion logica a la luz tanto de los objetivos como de las limitaciones financieras, tecnicas y de otros recursos y de los retos. La agenda para India establecida por el grupo de expertos mas alto y mas poderoso del pais adolece de varias debilidades. No identifica los objetivos, ni tampoco las limitaciones. Cualquier agenda, en el corto, medio o largo plazo puede incorporar propositos carentes de significado si no identifica los objetivos y las limitaciones. No esta justificado el hecho de dejar la vision a largo plazo para la segunda y ...
_________ Acknowledgement The authors gratefully acknowledge the technical support of Indian Inst... more _________ Acknowledgement The authors gratefully acknowledge the technical support of Indian Institute of Finance. We would like to thank Robert C. Merton, Fredric Mishkin and JD Agarwal who have inspired me in many ways to work on this complex issue. We would like to ...
This paper investigates the calendar anomalies in the Singapore stock market over the recent peri... more This paper investigates the calendar anomalies in the Singapore stock market over the recent period from 1993-2005. Specifically, changes in stock index returns are examined surrounding January (the January effect), on different days of the week (the day-of-the-week effect), around the turn of the month (the turn-of-the-month effect) and before holidays (the pre-holiday effect). The findings reveal that these anomalies have largely disappeared from the Singapore stock market in recent years. The disappearance of these anomalies has important implications for the efficient market hypothesis and the trading behavior of investors.
A great deal of attention has been paid to global economic issues in the last decade. This has be... more A great deal of attention has been paid to global economic issues in the last decade. This has been a natural byproduct of the increasing interdependencies of all national economies and the growth in entrepreneurship and a competitive environment. This has accentuated in recent years due to the emergence of several developing countries as global economic forces, the reorganisation of the production process, change in nature and location of development and finance. One can clearly observe this with the economic growth and self sufficiency attained by India, China and the quick re-emergence from crisis of the ASEAN countries.
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