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

Market economySubscribe to Market economy

Lineage Ownership to Individual Rights

This article details the manner in which the land rights of the Kodava have changed over the past two centuries and the various implications of that. It shows how customary land rights were codified first by the Lingayat Rajas, how this codification was strengthened by the British, and the consequences of a historical transformation from common ownership in a marketless context to individual ownership in an increasingly market-dominated political economy.

Russia: Oil and Politics

Under Vladimir Putin Russia has followed an aggressive energy policy enhancing the contribution of the oil and gas industry in the domestic economy. But as private companies gain dominance through mergers and foreign collaborations, a conflict of interest may emerge between the state and oil barons. Russia has become a major player in the world energy sector and has used oil as a weapon to achieve its foreign policy objectives through energy pipelines.

Noisy Vertical Markets

In vertical markets, volatility at one level of the market may transmit itself to another level. This paper examines the linkages that exist between spreads at different levels of the market hierarchy in Indian rice markets, and highlights the behaviour of spreads in the presence of information asymmetry. The paper also models possible differences between the reaction to an upward revision of the spread from that to a downward revision.

Market Reforms and Industrial Productivity

This paper brings out the factors that determine micro level firm level productivity in the context of a developing economy that had undertaken policy reforms towards a freer market. It econometrically tests a few hypotheses on the basis of firm level panel data for a set of Indian industries. One of the strong results of the paper is that firm level outward orientation of exports and imports contributes significantly and positively to firm level productivity. This finding supports one of the propositions of the new growth theory that developing economies benefit significantly from free trade with developed economies through free flow of new ideas and technologies and externalities.
Back to Top