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Begin New Search Topic Caste Publication Year within 25 Years

11. Networks and Misallocation: Insurance, Migration, and the Rural-Urban Wage Gap

Author:
Kaivan Munshi and Mark Rosenzweig
Publication Date:
09-2015
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
We provide an explanation for the large spatial wage disparities and low male migration in India based on the trade-off between consumption-smoothing, provided by caste-based rural insurance networks, and the income-gains from migration. We provide an explanation for the large spatial wage disparities and low male migration in India based on the trade-off between consumption-smoothing, provided by caste-based rural insurance networks, and the income-gains from migration. Our theory generates two key empirically-verified predictions: (i) males in relatively wealthy households within a caste who benefit less from the redistributive (surplus- maximizing) network will be more likely to migrate, and (ii) males in households facing greater rural income-risk (who benefit more from the insurance network) migrate less. Structural estimates show that small improvements in formal insurance decrease the spatial misallocation of labor by substantially increasing migration.
Topic:
Migration, Income Inequality, Urban, Rural, Caste, Insurance, Redistribution, Wage Growth, and Wealth
Political Geography:
India and Asia

12. Low Caste in India (Untouchables)

Author:
Umbreen Javaid, Abdul Majid, and Saadat Faruq Zahid
Publication Date:
07-2014
Content Type:
Journal Article
Journal:
South Asian Studies
Abstract:
Historically Dalits have the lowest social status in Indian society. They were generally segregated and banned form participation in Hindu social life. This problem is the product of the caste system which is deep rooted in society. The Indian government has adopted measures to improve their conditions, only a small number of Dalits are able to make use of these opportunities. They face difficulties in rural areas where traditions are strong. The Dalit issue poses different and multifaceted problems to Indian state and society. Hindu social system relegates social status to the lowest level of the Hindu society. Some Dalits have acquired reasonable positions in Indian society through hard work and having education or by raising their economic status. However, they do not enjoy higher political status. The mind set of Indian people does not accept them equal to the high caste Hindus even if the Dalits get high education and good jobs.
Topic:
Minorities, Discrimination, Caste, Hinduism, and Dalits
Political Geography:
South Asia and India

13. Good Regulation is Good Governance 101

Author:
K N Vaidyanathan
Publication Date:
12-2011
Content Type:
Special Report
Institution:
Gateway House: Indian Council on Global Relations
Abstract:
There is an immediate need for observance of good governance in regulation and a restructuring of the regulatory architecture. Key to this is the recovery of ground lost by the regulator in ensuring market integrity. In 1925, at the time that Britain reverted to the gold standard, Winston Churchill, then Chancellor, said that he would like to see ‘finance less proud and industry more secure.’ The move was criticized by economists for overvaluation of the British Pound; but the quote was prescient and is especially relevant today, when the hubris of the financial markets has fractured the global economy so excessively. Course correction so far has relied on bailouts. Instead what is immediately needed is the observance of good governance in regulation and in the long term, a restructuring of the regulatory architecture. Key to this is the recovery of ground lost by the regulator in ensuring market integrity, reinforcement of the currency of financial markets viz., trust, and deliverance of market stability which will help the underlying economy and the society at large. In sum: ensuring good regulation through good governance. This is the challenge before regulators today. The impact and import of the global financial crisis can be judged by two simple numbers: global market capitalization and GDP growth. (Source – the World Federation of Exchanges www.world-exchanges.org data.worldbank.org), They grew from $17.1 trillion and $27.5 trillion in 1990 to $ 64.5 trillion and $ 63.2 trillion, in 2007 respectively. A year later, market capitalization had almost halved to $ 33.5 trillion while GDP growth fell from over 5% to 3% in 2008 and -0.5% in 2009. The crisis that surfaced in 2007 has already peaked twice, in 2008 and 2011, and is far from over. In every analysis, financial market regulators have been accused of sleeping at their desks, held captive by the industry, remaining benign as the party went on and even abetting the excesses both wittingly and unwittingly.
Topic:
Economics, Financial Crisis, Governance, Regulation, Central Bank, and Caste
Political Geography:
South Asia and India