China and India : reforms and the response : how differently have the economies behaved

The relative performance of China and India is compared using two different methods and they provide a very different picture of their relative performance. We compare the average absolute values of indictors for the decade of the 1980s, 1990s and the 2000s. We use indicators such as the current account balance (CAB), exports of goods and services (XGS), foreign direct investment inflow (FDI), gross domestic savings, gross fixed capital formation (GFCF), aid, private capital inflows (PrK) and workers’ remittances, all as a percentage of GDP. We also look at the growth rate of per capita GDP, exports of goods and services and of gross fixed capital formation. Using a two tailed- test we find that China does better than India for most of these indicators. For instance, China has a higher growth rate of per capita income, XGS and GFCF as also a higher share of XGS, GFCF etc in GDP than does India. We also find that China usually has a lower CV, namely a more stable performance. But over the three decades the CV falls in India so it is approaching that in China, namely the two economies are becoming more similar

The 1991 reforms, Indian economic growth, and social progress

This paper analyzes the effects of the reforms initiated in India following the balance of payments (BOP) crisis of 1991 on economic performance. We do not find persuasive the contention of many analysts that growth accelerated after the mid-1980s when reforms were initiated. Nor does statistical analysis support the contention that reforms in the mid-1980s resulted in a growth acceleration. We show that there is an accelerating rate of growth of GDP after the mid 1970s and it is difficult to relate this gradual acceleration to specific policy changes. The changed policies in the 1980s did not mean a basic change in the policy framework. Furthermore, since corporate investment as a share of GDP did not increase in the 1980s it is difficult to identify the mechanism by which the more pro-business policies of the government were translated to higher growth as claimed by Rodrik and Subramaniam (2005)

Linking External Sector Imbalances and Changing Financial Instability before the 2008 Financial Crisis

The G20 Framework for Strong, Sustainable and Balanced Growth builds on the claim that growing imbalances before the 2008 Financial Crisis were a major cause of the crisis, and the further claim that reducing imbalances post crisis must be a central part of any effort to prevent a further occurrence. Analytical literature in economics seemingly does not provide satisfactory measures of financial instability, either in individual national economies or in the combined global economy; nor ways of linking imbalance change to either worsening or improving financial (or real) instability and the onset of financial crises. Here we focus on the external sector component of financial instability and link changes in country imbalances to individual economy growth rates in ways when summed across countries produce indices of expected worsening or improving financial instability at different points in time. We compute a variety of such indices for the years immediately before the 2008 Financial Crisis. We use the sum of the absolute value of external sector imbalances across countries (the trade imbalance, or the current account imbalance) as a proportion of the combined GDP of countries and link them in various ways to country growth rates. An increasing measure under an index is an indication of future widening excess demands and supplies over all countries as a group relative to gross world product. This, in turn, is an indication of increasing severity of adjustment problems ahead, and hence expected worsening financial instability. We compute such indices for all G20 countries, and various subsets of countries (G2, G8, G8+5) and examine their behavior over the period 2004-2007. Our results suggest that depending upon the index used and the base date chosen for comparative purposes in determining changes, different implications emerge for the linkage between external sector imbalances, perceived future instability and hence the onset of a financial crisis. The implication we drawn is that the links between imbalances and both the onset and best policy response to the 2008 Financial Crisis asserted by the G20 may be more tenuous than claimed. Indeed no such links were suggested earlier for the 1930s, the Asian Financial Crisis or any other crisis. In turn economies have functioned with larger imbalances relative to GDP than in 2008 for considerable periods of time and with no financial implosion (UK in the pre World War I period; Germany and Australia in the 1990s).

Refractoriness of Indian Aedes aegypti to Oral Infection with Yellow Fever Virus 17D Strain

Yellow fever virus (YFV) is the causative agent of yellow fever. It is one of the most important hemorrhagic arboviral infection of global public health significance. It is categorised under category ‘C’ of potential bioterrorism agent. Effect of geographical variation on vector competence in Ae. aegypti has been well documented for several viruses including YFV. In the present study, the vector competence of Ae. aegypti mosquitoes collected from Gwalior, India for YFV 17D vaccine strain was evaluated to understand the risk of its transmission. Further the risk associated with transmission of YFV 17D vaccine strain from viremic vaccinees to mosquitoes and subsequently to naive individuals was assessed. Ae. aegypti were orally infected with high titer of YFV 17D strain and the infection status was investigated at 7 and 14 day post infection (dpi) using a highly sensitive quantitative RT-PCR assay. None of the Ae. aegypti mosquito orally infected with YFV 17D strain was found to be positive for YFV. The infection rate was found to be zero per cent at both 7 dpi and 14 dpi. These results demonstrated the inability of the YFV 17D strain to cause infection or replication in the midgut of Ae. aegypti. Due to the highly attenuated replication of this strain in Ae. aegypti midgut, there is a minimal risk of its transmission. Further, it is unlikely for a mosquito that feeds on a viremic vaccine to get infected with this vaccine strain. The risk of transmission of YFV 17D strain by Indian Ae. aegypti mosquitoes is negligible. Further vector competence study using epidemic strain of YFV will aid in risk assessment analysis of YFV in India

Food for All

This book is a historical review of international food and agriculture since the founding of the international organizations following the Second World War, including the World Bank and the Food and Agriculture Organization of the United Nations (FAO), the World Food Programme (WFP) and into the 1970s, when CGIAR was established and the International Fund for Agricultural Development (IFAD) was created to recycle petrodollars. The book concurrently focuses on the structural transformation of developing countries in Asia and Africa, with some making great strides in small farmer development and in achieving structural transformation of their economies. Some have also achieved Sustainable Development Goals (SDGs), particularly SDG2, but most have not. Not only are some countries, particularly in South Asia and sub-Saharan Africa, lagging behind, but they face new challenges of climate change, competition from emerging countries, population pressure, urbanization, environmental decay, dietary transition, and now pandemics. Lagging developing countries need huge investments in human capital, and physical and institutional infrastructure, to take advantage of rapid change in technologies, but the role of international assistance in financial transfers has diminished. The COVID-19 pandemic has not only set many poorer countries back but starkly revealed the weaknesses of past strategies. Transformative changes are needed in developing countries with international cooperation to achieve better outcomes. Will the change in US leadership bring new opportunities for multilateral cooperation

Food for All

This book is a historical review of international food and agriculture since the founding of the international organizations following the Second World War, including the World Bank and the Food and Agriculture Organization of the United Nations (FAO), the World Food Programme (WFP) and into the 1970s, when CGIAR was established and the International Fund for Agricultural Development (IFAD) was created to recycle petrodollars. The book concurrently focuses on the structural transformation of developing countries in Asia and Africa, with some making great strides in small farmer development and in achieving structural transformation of their economies. Some have also achieved Sustainable Development Goals (SDGs), particularly SDG2, but most have not. Not only are some countries, particularly in South Asia and sub-Saharan Africa, lagging behind, but they face new challenges of climate change, competition from emerging countries, population pressure, urbanization, environmental decay, dietary transition, and now pandemics. Lagging developing countries need huge investments in human capital, and physical and institutional infrastructure, to take advantage of rapid change in technologies, but the role of international assistance in financial transfers has diminished. The COVID-19 pandemic has not only set many poorer countries back but starkly revealed the weaknesses of past strategies. Transformative changes are needed in developing countries with international cooperation to achieve better outcomes. Will the change in US leadership bring new opportunities for multilateral cooperation

Social challenges and progress in IBSA

The India Brazil South Africa (IBSA) Dialogue Forum was launched in June 2003 to push for these countries’ bids for a place on the United Nation’ Security Council, but IBSA’s attention has shifted over time towards development and economic reform. This article discusses the progress in addressing social development challenges within the member countries of IBSA. It examines the social achievements of IBSA members, in the context of their economic performance and the Millennium Development Goals. It also assesses the forces which propel these societies’ social policies, especially the influence of civil society, and whether there has been benefit in this regard in their collaboration within the IBSA forum. Their experiences show the critical importance of civil society in design and execution of programmes directed towards the poor, an important factor to be kept in mind by multilateral and bilateral agencies involved in poverty alleviation projects in developing countries. The three nations could cooperate to share ideas for effective social welfare programmes, and join together in multilateral forums to form a powerful voice for change.http://www.tandfonline.com/loi/rsaj20hb2016Gordon Institute of Business Science (GIBS

Vertical Transmission of Chikungunya virus in Aedes aegypti Mosquitoes from Northern India

Chikungunya virus is now recognised as a resurging arbovirus of global public health significance, with their circulation in both new and old world. It is horizontally transmitted among vertebrates by Aedes mosquitoes. So far, the existence of vertical transmission of Chikungunya virus in Aedes vector is riddled with conflicting reports. In this study, presence of Chikungunya virus was detected in adult Aedes aegypti mosquitoes that emerged from field-collected larvae from Gwalior, northern India during 2010. This was further confirmed through nucleotide sequencing that revealed the presence of novel east central south African (ECSA) genotype of Chikungunya virus. This provides molecular evidence for vertical transmission of Chikungunya virus in mosquitoes in nature, which may have important consequences for viral survival during inter-epidemic period and adverse climatic conditions

Entangling two Bose Einstein condensates in a double cavity system

We propose a scheme to transfer the quantum state of light fields to the collective density excitations of a Bose Einstein condensate (BEC) in a cavity. This scheme allows to entangle two BECs in a double cavity setup by transferring the quantum entanglement of two light fields produced from a nondegenerate parametric amplifier (NOPA) to the collective density excitations of the two BECs. An EPR state of the collective density excitations can be created by a judicious choice of the system parameters.Comment: 3 figure