ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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WTO Conflict with Financial Re-regulation

The General Agreement on Trade in Services does impose limits on many developing countries' ability to regulate the financial sector. A response to the article "Regulatory Freedom under GATS: Financial Services Sector" which argued otherwise.

On a CPI (Maoist) Apology

In a statement of apparent self-criticism dated 1 September 2011 (EPW, 17 September 2011), the Communist Party of India (Maoist) has offered an apo logy for the posters threatening Aruna Roy, Jean Dreze, Gokul Vasant and Nandlal Singh and members of Gram Swaraj Abhiyan. But they have not tendered...

Cash Transfers as the Silver Bullet for Poverty Reduction: A Sceptical Note

The current perception that cash transfers can replace public provision of basic goods and services and become a catch-all solution for poverty reduction is false. Where cash transfers have helped to reduce poverty, they have added to public provision, not replaced it. For crucial items like food, direct provision protects poor consumers from rising prices and is part of a broader strategy to ensure domestic supply. Problems like targeting errors and diversion from deserving recipients are likely to be even more pronounced with cash transfers and cannot be eliminated through technological fixes like the UID.

The Political Economy of Hunger in 21st Century India

It is apparent that despite the persisting food insecurity of the bulk of the population and the near-emergency with respect to the nutrition of children, women and other vulnerable groups, the Government of India is still not taking the job of ensuring universal food security with sufficient seriousness. Its attitude towards meeting its 2009 election promise of legislating a comprehensive Food Security Act is an example of this lack of seriousness. Political and social mobilisation around this issue, to make it a resonant demand that cannot be ignored, is therefore essential.

Adjustment, Recovery and Growth: A Consideration of Five 'Crisis' Countries of East Asia

In this paper, the post-crisis experience of the five economies of Thailand, South Korea, Malaysia, Indonesia and the Philippines is considered. It is found that while output growth has recovered to varying degrees, in all these countries there has been a significant change in the pattern of growth and investment, which has meant that the subsequent growth has had very different implications for employment generation, compared to the previous period.

The 'Demographic Dividend' and Young India's Economic Future

Declining fertility rates have changed the age structure of India's population, resulting in a "bulge" in the working age-group. This "demographic dividend" has improved the dependency ratio leading to the hypothesis that the bulge in working population will lead to an acceleration in growth. However, recent employment figures indicate that the absorption of the Indian youth into the labour force is not as high as one would expect. This is perhaps due to the poor employability of the workforce, which is severely affected by a deficit in educational attainment and health. This needs to be remedied in order to take advantage of the opportunity for growth that the demographic dividend is supposed to give India.

Case for Caste-based Quotas in Higher Education

The roots of discrimination in India go so deep that social and economic disparities are deeply intertwined, although in increasingly complex ways. We still need reservations for different groups in higher education, not because they are the perfect instruments to rectify long-standing discrimination, but because they are the most workable method to move in this direction. The nature of Indian society ensures that without such measures, social discrimination and exclusion will only persist and be strengthened.

Twelfth Finance Commission and Restructuring of State Government Debt: A Note

The Twelfth Finance Commission's proposed plan for restructuring the debt of state governments contains stringent conditions that probably violate the basic tenets of fiscal federalism. Macroeconomic norms dictated by global finance capital could not obviously be reconciled with the requirements of economic democracy.

Financial Crisis and Elusive Recovery

The current crisis in emerging markets may signify the end of a phase of international capitalism in which deregulation and increased economic integration have led to increased volatility and uncertainty. This article examines - with a focus on Thailand and South Korea - the factors that led to financial liberalisation, the link between financial openness and crisis and the problems that persistence with open regimes creates for efforts to overcome the crisis. The experience shows that developing countries will have to control and regulate capital flows in accordance with national priorities.

East Asian Dilemma Is There a Way Out

East Asian Dilemma: Is There a Way Out? Jayati Ghosh Abhijit Sen C P Chandrasekhar The financial crises in east and south-east Asia show no signs of resolution, and the IMF medicine that is being imposed on several of the most badly affected economies may actually intensify their problems. But are there any other options now available to countries that had based their rapid economic growth on high rates of investment combined with a mercantilist export strategy?

India s Structural Adjustment-An Assessment in Comparative Asian Context

This paper attempts a reasoned assessment of whether the package of economic reforms currently being implemented in India has any relation to the strategies that have allowed for the apparent economic success of other eastern and south-eastern Asian countries. After identifying the important elements of the adjustment strategies followed in some of these countries with particular reference to some key areas of economic policy, the divergence of these strategies from the standard 'liberalising ' or 'market driven


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