5 research outputs found
๋ฌผ์ฒด์กฐ์ ํ๋์ด ๋ค์ด์ฆํ๊ตฐ ์๋์ ๋-์ ํ์๋ ฅ์ ๋ฏธ์น๋ ์ํฅ
ํ์๋
ผ๋ฌธ(์์ฌ)--์์ธ๋ํ๊ต ๋ํ์ :์ฒด์ก๊ต์ก๊ณผ,2004.Maste
์ธ๋ ์์ฅ์ ๋จ์ผํ ์์ง์ : ์ธ๋ ๋ด ์ฃผ ๋ณ ๊ฐ๊ฒฉ ์๋ ด
ํ์๋
ผ๋ฌธ (์์ฌ)-- ์์ธ๋ํ๊ต ๊ตญ์ ๋ํ์ : ๊ตญ์ ํ๊ณผ(๊ตญ์ ์ง์ญํ์ ๊ณต), 2012. 8. ๊น์ข
์ญ.๋ณธ ์ฐ๊ตฌ๋ ์ธ๋ ๊ตญ๋ด์์ ์ผ๋ฌผ์ผ๊ฐ ๋ฒ์น์ ์ฑ๋ฆฝ์ฌ๋ถ๋ฅผ ์ดํด๋ณด๊ณ , ์ธ๋ ์์ฅ์ด ์ ๋ฝ์ฐํฉ์ด ์ ์ํ๋ ๋จ์ผ ์์ฅ์ ๊ฐ๊น์์ง๊ณ ์๋์ง ๋ณด๊ณ ์ ํ๋ค. ๋ํ ์ผ๋ฌผ์ผ๊ฐ ๋ฒ์น์ด ์ฑ๋ฆฝํ์ง ์๋ ์์ธ์ ๋ํ ๋ถ์๋ ์ด๋ฃจ์ด์ง๋ค.
์ ๋ฝ์ฐํฉ์ด ๋์
ํ ๋จ์ผ์์ฅ์ด๋ ๊ฐ๋
์ ์ฌํ,์๋น์ค,์๋ณธ, ์ธ๊ตฌ์ ์ด๋์ด ์์ ํ ์์ ๋ก์ด ์์ฅ์ ๋งํ๋ค. ์ด ๋, ๋ฌด์ญ ์ฅ๋ฒฝ ๋ฟ๋ง ์๋๋ผ ํ์ ์ , ๋น๋ฌด์ญ ์ฅ๋ฒฝ๋ ์กด์ฌํ์ง ์์์ผ ํ๋ค. ํ์ฌ ์ธ๋์ ๊ฒฝ์ฐ๋ ํ์ ์ , ๋น๋ฌด์ญ ์ฅ๋ฒฝ์ ์กด์ฌ๋ก ์ธํด ์ ๋ฝ์ฐํฉ์ด ์ ์ํ๋ ๋จ์ผ์์ฅ์ด๋ผ๊ณ ๋ณผ ์ ์๋ค.
1971๋
๋ถํฐ 2010๋
๊น์ง์ ์๋น์ ๋ฌผ๊ฐ์ง์๋ฅผ ํตํด, ์ธ๋ ๋์๋ณ, ์ฃผ ๋ณ ๊ฐ๊ฒฉ ๊ฒฉ์ฐจ๋ฅผ ์ดํด๋ณธ ๊ฒฐ๊ณผ, ์ธ๋ ๋ด์์ ์ผ๋ฌผ์ผ๊ฐ๋ฒ์น์ ์ฑ๋ฆฝํ์ง ์๊ณ ์๋ค. ๊ทธ๋ฌ๋ ์ฃผ๋ชฉํ ๊ฒ์ ์ธ๋ ๋ด์์ ๋๋ฆฌ์ง๋ง ๊ฐ๊ฒฉ ์๋ ด์ ํ์์ด ๋ฐ๊ฒฌ๋๋ฉฐ, 1991๋
๊ฒฝ์ ๊ฐ๋ฐฉ ์ดํ ๊ทธ ์ถ์ธ๊ฐ ๋์ฑ ๋๋ ทํด์ก๋ค๋ ์ ์ด๋ค.
ํ ๊ตญ๊ฐ ๋ด์์๋ ๊ฐ๊ฒฉ ๊ฒฉ์ฐจ๊ฐ ๋ฐ์ํ๋ ์ด์ ์ค ํ๋๋ Harrod-Balassa-Samuelson ํจ๊ณผ์ด๋ค. ์ด ์ด๋ก ์ ๋ ์ง์ญ์ ๋ฌด์ญ์ฌ์ ๋น๋ฌด์ญ์ฌ ๋ถ์ผ์์์ ์์ฐ์ฑ ๊ฒฉ์ฐจ๊ฐ ์ฅ๊ธฐ์ ์ผ๋ก ๊ฐ๊ฒฉ ๊ฒฉ์ฐจ๋ก ์ด์ด์ง๋ค๊ณ ์ฃผ์ฅํ๋ค. ๋ ๋ค๋ฅธ ์ด์ ๋ ๊ฑฐ๋ฆฌ๋ก ๋์ฒด๋๋ ๊ตํต๋น์ด๋ค.
๋ณธ ์ฐ๊ตฌ์์๋ ํจ๋๋ฐ์ดํฐ์ ๋ํ ํ๊ท๋ถ์์ ํตํด ๊ฑฐ๋ฆฌ์ ์์ฐ์ฑ ๊ฒฉ์ฐจ๊ฐ ๊ฐ๊ฒฉ๊ฒฉ์ฐจ์ ๊ฐ๋ ์ํฅ๋ ฅ์ ์ดํด๋ณธ๋ค. ์ ๊ธฐ๊ฐ์ ๊ฑธ์ณ ๋ ๊ฐ์ง ๋ณ์๋ ์ ํจํ ๊ฒ์ผ๋ก ๋ฐํ์ก์ผ๋ฉฐ, ๊ฑฐ๋ฆฌ์ ๊ฒฝ์ฐ๋ 1991๋
์ธ๋ ๊ฒฝ์ ๊ฐ๋ฐฉ ์ดํ์ ๊ทธ ์ํฅ๋ ฅ์ด ๋์ฑ ์ปค์ง๊ณ ์๋ค. ์์ฐ์ฑ ๊ฒฉ์ฐจ์ ๊ฒฝ์ฐ์๋ ๊ฐ๋ฐฉ ์ดํ์ ์ ํจํ ๊ฒ์ผ๋ก ๋ํ๋๋ค. ์ด๋ฌํ ์์ธ๋ค์ด ์ธ๋์ ์์ฅ ํตํฉ์ ๋ฐฉํดํ๊ณ ์์ง๋ง, ํจ๋๋ฐ์ดํฐ ์๊ฐ ๊ณ ์ ํจ๊ณผ(time fixed effect)์ ์ถ์ธ ๋ถ์์ ํตํด์ ํ์ฌ ์ธ๋๋ ๋จ์ผ ์์ฅ์ ๊ฐ๊น์์ง๊ณ ์์์ ์ ์ ์๋ค.The aim of this paper is to find out if the law of one price(LOP) is holding in India and if India is moving toward a single market. Furthermore, this study tries to figure out reasons for the violation of Purchasing Power Parity(PPP) in India.
The concept of single market used in this study is same as the one adopted by European Union. It means four fundamental freedom in movement of goods, services, capital and people. Based on the concept, India is currently not a single market, due to fiscal charges and non-tariff barriers.
Through data analysis, persistent price differential is observed across regions in India. One of the explanations for such violation of LOP is Harrod-Balassa-Samuelson hypothesis. It argues that productivity differential between traded and non-trade sectors of different regions lead to price differential. And the other is transportation cost, proxyed by distance.
We examined determinants of price differential and convergence trend by running regression of panel data. The analysis is carried out at city and state level, respectively, and before and after the economic liberalization in 1991.
Both productivity difference and distance turns out to be statistically significant variable. The results also reveals that impact of distance and productivity differential both increases after 1991. Thus, India is, currently, spatialy segregated and H-S-B hypothesis holds in India. By examining time fixed effect, however, clear price convergence trend is also observed.
In conclusion, distance and productivity differential between regions have functioned as impediments to market integration of India, however, it is getting closer to a single market.Abstract i
Table of Contents iv
List of Figures v
List of Tables vi
I. Introduction ๏ผ
II. Theoretical Background and Literature Review ๏ผ
III. Data and Descriptive Data Analysis ๏ผ
1. Data ๏ผ
2. Descriptive analysis ๏ผ
IV. Determinants of Price differences and Convergence trend ๏ผ๏ผ
1. City Level ๏ผ๏ผ
2. State level ๏ผ๏ผ
V. Conclusion and Implication ๏ผ๏ผ
References ๏ผ๏ผ
Appendix A : States and Cities covered in this study๏ผ๏ผ
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