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Nobel prize in Economics 2016: The economy as a nexus of contracts

An important line of research in microeconomics has tried to explain how the economic institutions that underpin the ‘invisible hand of the market’ actually work. The specific economic institution tha...

  • Perspectives

Nobel insights: When it comes to contracts, what's obvious may not be optimal

In a tribute to Oliver Hart and Bengt Holmström, recipients of this year’s Nobel prize in Economics, Rohini Somanathan, Professor of Economics at Delhi School of Economics, outlines their contribution...

  • Perspectives

Are grain procurement shocks inflationary?

Central banks in emerging markets grapple with understanding the inflationary impact of grain procurement shocks because the precise link between the agriculture sector and the rest of the economy may...

  • Articles

Understaffed, underserved: Human problems of India's public health system

India’s progress in reducing infant and maternal mortality is rather slow. This column shows the extent of shortfall of gynaecologists and auxiliary nurse midwives - the frontline of the battle agains...

  • Articles

Poverty reduction in India: Revisiting past debates with 60 years of data

There has been much debate about the poverty impacts of economic growth and structural transformation in developing countries. This column revisits these issues using a newly constructed dataset of p...

  • Articles

Whither female disadvantage? An analysis of private school enrolment in India

Given the poor condition of government schools and the perceived efficiency of private schools, Indian parents are increasingly choosing to send their children to private schools. This column examines...

  • Articles

Banning commercial surrogacy in India

In an attempt to protect the welfare of surrogate mothers, the Indian government has proposed to introduce legislation that will ban commercial surrogacy in the country. In this article, Ajit Karnik, ...

  • Perspectives

The hidden productivity benefits of energy-saving technology: Evidence from LEDs in Indian factories

Energy-efficient technologies are an increasingly relevant policy priority, given growing consensus on the need to tackle climate change. This column examines the productivity benefits of adopting one...

  • Articles

The universal basic share and social incentives

In the previous article in the series, Debraj Ray proposes a simple amendment of the universal basic income called the universal basic share. In this article, Debraj Ray and Karl Ove Moene (Universit...

  • Perspectives

Minimum standard of living for all Indians

In this article, T.N. Srinivasan, Samuel C. Park, Jr. Professor Emeritus of Economics, Yale University, contends that the idea of an assured minimum income for all citizens of India was being discuss...

  • Perspectives

The Political Effects of Programmatic Development Policy: Can Bihar Break the Clientelist Trap?

This project aims to understand the conditions of supporting the continuation and expansion of programmatic governance in Bihar state. Bihar’s "clientelism trap" (incentives to return to clientelist g...

  • IGC Research on India

The universal basic share

Debraj Ray, Professor of Economics at NYU, proposes a simple amendment of the universal basic income – what he calls the ‘universal basic share’. The idea is to commit a fixed fraction of the gross d...

  • Perspectives