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The IUP Journal of Managerial Economics

February '12
Focus

The current issue consists of five papers. The first paper, “The Economics of Cloud Computing”, is on the topic of cloud computing. In principle, it discusses the net benefits of the new trend in the Information and Communication

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Andhra Pradesh Manufacturing Industry in the Era of Globalization: A Cobb-Douglas Production Function Analysis
Indian Real Estate Market and Potential of House Price Indices
as an Indicative Tool: Cases and Concepts
Productivity of Commercial Banks in India: A Bank Group-Wise Study
Infrastructure, Export-Led Growth and Economic Development
in Sub-Saharan Africa: An Empirical Analysis
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Andhra Pradesh Manufacturing Industry in the Era of Globalization: A Cobb-Douglas Production Function Analysis

-- Pesala Busenna and V Ramesh

The main objective of the paper is to investigate which factors influenced the output growth—fixed capital or workers? The paper analyzes the data by calculating Compound Annual Growth Rate (CAGR) for different years and different variables like workers, fixed capital and output collected for 62 manufacturing industries from the Annual Survey of Industries (ASI) in Andhra Pradesh. In general, Cobb-Douglas production function has been used in two variables framework and value added has been considered as output and labor and capital as inputs. The Cobb-Douglas production function analysis through panel data analysis was done. The study followed the 1998-99, National Industrial Classification (NIC). The main findings of the study are, firstly, not all industries influenced the output growth. Secondly, most of the industries (20 industries) did not provide employment opportunities. Thirdly, a few (18) manufacturing industries’ fixed capital CAGR has negatively declined. Fourthly, a few (12) manufacturing industries’ output CAGR has negatively declined. And, finally only manufacture of machinery and equipment industry’s workers per factory employed average declined, and rest of the industries’ average number of workers per factory employed increased.

Indian Real Estate Market and Potential of House Price Indices as an Indicative Tool: Cases and Concepts

--Sumanta Deb

Movements in prices of real estate, particularly residential housing, is of vital importance to the macro economy as well as to individual households. A House Price Index (HPI) in this context will not only give an indicative trend of the prices of properties in different cities but also serve as a benchmark for different users and a useful tool for monitoring real estate bubble. The absence of a strong database on the real estate sector is well recognized and considered critical in the context of on-going reforms in India. Information system and data need to be strengthened to enable better understanding and management of financial flows to enhance the sectors’ contribution to GDP and revenue base of governments to monitor and formulate policy to minimize economic slump due to burst of real estate bubble.

Productivity of Commercial Banks in India: A Bank Group-Wise Study

-- Anand S Kodan, Kuldip S Chhikara, Sandeep Mehra and Amit Yadav

The study indicates that the productivity performance of public sector bank group has been better than private and foreign bank groups; both public and private sector bank groups are operating under increasing return to scale, while foreign bank group is operating under decreasing return to scale; and the public and private sector bank groups are laborintensive, while foreign bank group is capital-intensive.

Infrastructure, Export-Led Growth and Economic Development in Sub-Saharan Africa: An Empirical Analysis

-- Auta Elisha Menson

This study examines the impact of infrastructure and outward-orientation development strategy on the development of Sub-Saharan African economies. Three structural models were estimated using two-stage least squares (2SLS) method, and the results indicate that infrastructure is a significant determinant of per capita GDP in SSA. The elasticities of the coefficients of per capita GDP with respect to telephone, power and road are 0.19, 1.01 and 0.14 respectively. The adjustment expression and the initial gap expression for infrastructure are positive and significant. The estimated convergence rate is about 2.34%. However, the primary export/GDP ratio is positive but not statistically significant. The study suggests that it is time to rethink and there is a need to shift to the new development policy agenda that focuses on domestic demandled growth with emphasis on good governance that supports domestic growth drivers, large-scale investment in power, transport, and Information and Communication Technology (ICT) systems and other forms of soft and hard infrastructure, and encourages competitiveness and diversification towards higher value-added goods and services with greater technological content.

 

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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Managerial Economics