FDI in Agricultural Land, Welfare and Unemployment in a Developing Economy

The paper purports to examine the consequences of foreign direct investment (FDI) in agricultural land in a developing economy using a three-sector general equilibrium model with simultaneous existence off unemployment of both skilled and unskilled labour. The analysis finds that FDI in agriculture does not only improve national welfare unequivocally but also mitigates unemployment problem of both types of labour. The paper theoretically justifies the desirability of flow of FDI in agriculture in the developing economies.FDI in agricultural land; national welfare; unemployment; fair wage hypothesis; skilled labour; unskilled labour; general equilibrium

Consumption efficiency hypothesis and the HOS model: Some counterintuitive results

We show how accommodation of the consumption efficiency hypothesis can explain the existence of involuntary unemployment in the two-by-two Heckscher-Ohlin-Samuelson (HOS) model. Although the workers consume both the commodities their nutritional efficiency depends on the consumption of one commodity only. An increase in the relative price of the capital-intensive (labour-intensive) good raises (lowers) the effective employment in the economy. The effects of commodity price changes on the output levels of the two sectors might be perverse. These results are different from the standard HOS results.Consumption efficiency hypothesis; General equilibrium; Heckscher-Ohlin-Samuelson model; Effective employment; Output composition

Foreign Capital Inflow, Skilled-Unskilled Wage Inequality and Unemployment of Unskilled Labour in a Fair Wage Model

This paper has developed a three-sector general equilibrium framework that explains unemployment of both skilled and unskilled labour. Unemployment of unskilled labour is of the Harris-Todaro (1970) type while unemployment of skilled labour is caused due to the validity of the FWH in the high-skill sector. There are two types of capital one of which is specific to the primary export sector while the other moves freely among the different sectors. Inflows of foreign capital of either type unambiguously improve the economic conditions of the unskilled working class. However, the effects on the skilled-unskilled wage inequality and the extent of unemployment of both types of labour crucially hinge on the properties implied by the efficiency function of the skilled workers.Fair wage hypothesis; skilled labour; unskilled labour; wage inequality; foreign capital; unemployment

Economic Liberalization and Informal Wage in a Small Open Economy: Does Capital Mobility count?

Empirical evidence suggests that the size of the informal sector in the developing countries has increased considerably during the liberalized economic regime. The present paper purports to analyze the consequences of economic reforms on the wellbeing of the informal sector workforce using a three-sector general equilibrium model with two informal sectors. The theoretical analysis finds that different liberalized policies produce diverse effects on the informal wage and that these results are independent of the nature of capital mobility between the informal and the formal sectors. It also shows that labour market reforms, contrary to the common wisdom, are likely to produce favourable effects on the informal wage.Informal sector; formal sector; informal wage; economic reforms; capital mobility; general equilibrium model

Consumption efficiency hypothesis and the optimality of free trade policy in a small open economy

The paper is designed to examine the optimality of the free trade policy in a small poor economy incorporating the consumption efficiency hypothesis in the simple two-by-two Heckscher-Ohlin-Samuelson (HOS) framework. It finds that the protectionist policy in the form of a tariff on the capital-intensive import-competing sector may improve social welfare and unambiguously raise the economy-wide effective employment.Consumption efficiency hypothesis; Optimality of free trade; Protectionist policy; Heckscher-Ohlin-Samuelson model; Effective employment

Foreign Capital, National Welfare and Unemployment in a Fair Wage Model

The paper develops a three-sector general equilibrium model that can explain simultaneous existence of unemployment of both skilled and unskilled labour. The unemployment of unskilled labour is explicated in terms of rural-urban migration mechanism while that of skilled labour is shown using the ‘fair wage hypothesis’. The paper finds that foreign direct investment (FDI) in the primary export sector improve both national welfare and urban unemployment problem of unskilled labour while the consequences of foreign capital flows into the import-competing sector and high-skill export sector are ambiguous. The paper justifies the desirability of FDI flow in the primary export sector from the perspective of both unemployment and social welfare.Fair wage hypothesis; skilled labour; unskilled labour; national welfare; unemployment.

Indigenous ornamental fishes of west Bengal

Ornamental fishes are attractive colourful fishes of peaceful nature that are kept as pets in aquarium for recreation purpose. Ornamental fish keeping is the second most popular hobby next to photography. And the ornamental fish industry is one of the most booming one among the World; India having a good share of it. India is blessed with a great resource of different natural ornamental fishes. West Bengal is also sanctified with a wide range of indigenous ornamental fishes of biological as well as commercial importance. Due to lack of information and proper conservation strategy many of them are on the verge of extinction.  In the present study, different rivers and water bodies of all the districts of West Bengal have been surveyed thoroughly for natural ornamental fishes. A total number of 70 indigenous ornamental fish species belonging to 45 genera, 30 families and 9 orders were collected and identified during the survey period. Among all the collected fishes order cypriniformes shows the maximum species variation, followed by perciformes and siluriformes. The study shows that a lot of the available ornamental ichthyofauna are endemic to some region and needed to be conserved. Among the fish specimen available many have a huge commercial value. But habitat destruction, unregulated fishing practice, water pollution, lack of proper awareness and introduction of exotic fishes are some potent reasons of declining fish population of this region