Would an India-US trade agreement be beneficial for India?

This paper examines the potential impact of an India-U.S. FTA on India’s trade. We use two approaches to estimate trade effects, compound annual growth analysis and Gravity model estimation. Our sample spans the period from 1992 to 2019 and consists of seven bilateral trade agreements and three multilateral trade agreements which include 24 countries as our treatment group. In both cases we compare the impact on India’s trade following a trade agreement with a control group which we create by including those countries whose trade share exceeds one percent of India’s total trade (in 2019). Our CAGR analysis shows that trade (after an agreement) with the treatment group outperforms the control group although the results are not symmetric for imports and exports. The Gravity estimation confirms the results. We find that participation in a trade agreement is associated with a 42 percent jump in imports compared with a 28 percent increase in exports. The results show that following a trade agreement with the U.S., India is likely to experience a worsening trade balance. However, increased exports, especially manufacturing exports, to the U.S. is likely to benefit the Indian economy. Thus, an India-U.S. trade agreement may be beneficial to India

DOES MUTUAL FUND MANAGER’S ATTRIBUTES IMPACT FUND PERFORMANCE? EVIDENCE FROM INDIA

This paper examines the impact of two managerial characteristics – qualification and work experience on the fund performance of various mutual fund schemes in India. We analyse 1508 fund managers during the period 2005–2018 using panel OLS regression. Our results suggest that work experience of the managers positively affects the performance of the open-ended schemes. After segregating the data into different schemes and different qualification categories, we find that the number of years, for which the manager is handling a scheme, is positively related to fund performance for almost all the schemes and qualifications. Further, we find evidence to support the notion that better quality of education and specialised courses also contribute to improving the fund performance. In India, the mutual fund industry is expected to grow at an exponential rate in the coming years, and this study provides an insight into the characteristics of the fund managers impacting the performance of such funds

Oil Price And Real Exchange Rate: The Case Of India

This paper studies the effect of oil price change on the real exchange rate between the Indian rupee and the U.S. dollar.  For that, a model is developed which is based on a monetary model of exchange rate which incorporates the real GDP, real money balances, and the interest rates of both the home and foreign country and the real price of the crude oil.  Quarterly time series data from 1996 to 2012 is used.  Before estimating the model, the time series properties of the data are diagnosed in order to ensure the stationarity of the data.  The data series are found to be integrated of order one and the null hypothesis of no cointegration is rejected.  Therefore an error correction model is developed and estimated.  The estimated results suggest that there is no detectable effect of oil price change on the real exchange rate between the Indian rupee and the U.S. dollar

Exchange Rate Adjustment And Output In South-East Asia

This paper studies the effect of currency devaluation on aggregate output level in South- East Asian countries using panel data from Thailand, Malaysia, Indonesia and the Philippines for a period from 1980 to 2010. An empirical model that includes monetary, fiscal and exchange rate variables is developed. Two versions of the model, one with real exchange rate and another with nominal exchange rate and foreign-to-domestic price ratio are estimated. An error correction model is developed and the time series properties of the panel data are diagnosed before estimating the model. The estimated results suggest that currency devaluations are contractionary in the short run and the intermediate run and this contractionary effect comes from the change in nominal exchange rate and not from the change in foreign-to-domestic price ratio

Exchange Rate Adjustment And Output In SouthEast Asia

This paper studies the effect of currencydevaluation on aggregate output level in South- East Asian countries usingpanel data from Thailand, Malaysia, Indonesia and the Philippines for a periodfrom 1980 to 2010. An empirical modelthat includes monetary, fiscal and exchange rate variables is developed. Two versions of the model, one with realexchange rate and another with nominal exchange rate and foreign-to-domesticprice ratio are estimated. An errorcorrection model is developed and the time series properties of the panel dataare diagnosed before estimating the model.The estimated results suggest that currency devaluations are contractionaryin the short run and the intermediate run and this contractionary effect comesfrom the change in nominal exchange rate and not from the change in foreign-to-domesticprice ratio

A comparative study of low dose vaginal misoprostol and dinoprostone gel for induction of labour at term of pregnancy

Background: The aim of this study was to compare the low dose of vaginal misoprostol and dinoprostone gel for the induction of labour at term of pregnancy.Methods: The study was conducted on 90 women, randomized into two groups, each group having 45 women. First group received misoprostol per vaginally and second group received the dinoprostone gel. The duration of induction to delivery interval, mode of delivery and complications related to labour or foetus were recorded.Results: The mean induction to delivery interval in the misoprostol group was 11.68 ± 4.49 hours and in the dioprostone gel group was 14.85 ± 7.08 hours. Applying the modified t-test, this difference is statistically significant (P value 0.004). Thus misoprostol leads to early labour and early delivery as compared to dinoprostone gel.Conclusions: As shown in this study, vaginal misoprostol is highly effective induction agent with no adverse effect on the outcome of labour as compared to dinoprostone gel

A comparative study of low dose vaginal misoprostol and dinoprostone gel for induction of labour at term of pregnancy

Background: The aim of this study was to compare the low dose of vaginal misoprostol and dinoprostone gel for the induction of labour at term of pregnancy.Methods: The study was conducted on 90 women, randomized into two groups, each group having 45 women. First group received misoprostol per vaginally and second group received the dinoprostone gel. The duration of induction to delivery interval, mode of delivery and complications related to labour or foetus were recorded.Results: The mean induction to delivery interval in the misoprostol group was 11.68 ± 4.49 hours and in the dioprostone gel group was 14.85 ± 7.08 hours. Applying the modified t-test, this difference is statistically significant (P value 0.004). Thus misoprostol leads to early labour and early delivery as compared to dinoprostone gel.Conclusions: As shown in this study, vaginal misoprostol is highly effective induction agent with no adverse effect on the outcome of labour as compared to dinoprostone gel

An invasive Mimosa in India does not adopt the symbionts of its native relatives

BACKGROUND AND AIMS: The large monophyletic genus Mimosa comprises approx. 500 species, most of which are native to the New World, with Central Brazil being the main centre of radiation. All Brazilian Mimosa spp. so far examined are nodulated by rhizobia in the betaproteobacterial genus Burkholderia. Approximately 10 Mya, transoceanic dispersal resulted in the Indian subcontinent hosting up to six endemic Mimosa spp. The nodulation ability and rhizobial symbionts of two of these, M. hamata and M. himalayana, both from north-west India, are here examined, and compared with those of M. pudica, an invasive species. METHODS: Nodules were collected from several locations, and examined by light and electron microscopy. Rhizobia isolated from them were characterized in terms of their abilities to nodulate the three Mimosa hosts. The molecular phylogenetic relationships of the rhizobia were determined by analysis of 16S rRNA, nifH and nodA gene sequences. KEY RESULTS: Both native Indian Mimosa spp. nodulated effectively in their respective rhizosphere soils. Based on 16S rRNA, nifH and nodA sequences, their symbionts were identified as belonging to the alphaproteobacterial genus Ensifer, and were closest to the ‘Old World’ Ensifer saheli, E. kostiensis and E. arboris. In contrast, the invasive M. pudica was predominantly nodulated by Betaproteobacteria in the genera Cupriavidus and Burkholderia. All rhizobial strains tested effectively nodulated their original hosts, but the symbionts of the native species could not nodulate M. pudica. CONCLUSIONS: The native Mimosa spp. in India are not nodulated by the Burkholderia symbionts of their South American relatives, but by a unique group of alpha-rhizobial microsymbionts that are closely related to the ‘local’ Old World Ensifer symbionts of other mimosoid legumes in north-west India. They appear not to share symbionts with the invasive M. pudica, symbionts of which are mostly beta-rhizobial