Jan'19


The IUP Journal of Applied Economics

ISSN: 0972-6861

A ‘peer reviewed’ journal indexed on Cabell’s Directory, and also distributed by EBSCO and Proquest Database

It is a quarterly journal that analyzes the issues of Micro, Macro, Development and Energy economics. It provides papers on Industrial economics, Public finance, Industry, Agricultural, Rural economics, etc.

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Focus Areas
  • Microeconomics
  • Macroeconomics
  • Industrial Economics
  • Public Finance
  • International Trade and Business
  • Financial Economics
  • International Finance
  • Energy Economics
  • Environmental Economics
  • Labor Economics
  • Development Economics
  • Agriculture and Rural Economics
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Article   Price (₹) Buy
Industry Rates of Return in Korea and Alternative Theories of Competition: Equalizing Convergence Versus Tendential Equalization
50
An Empirical Investigation of the Inter-Linkages Between Different Indices of Multi Commodity Exchange of India
50
Economic Performance Indicators Under Different Monetary Policy Frameworks: Evidence from India
50
     
Contents : (Jan 2019)

Industry Rates of Return in Korea and Alternative Theories of Competition: Equalizing Convergence Versus Tendential Equalization
Ivan D Trofimov

This paper considers convergence and equalization in industry profit rates in the Republic of Korea during the period 1970-2015, from the perspective of alternative paradigms of competition—classical and neoclassical. Two measures of profitability— average rate of profit based on the total capital stock in the economy, and Incremental Rate of Profit (IROP) based on the concept of regulating capital—are estimated. It is shown that little convergence in industry rates of profit occurs when the former measure is used, while almost complete equalization of IROP is achieved. The classical-type equalization takes place in particular capital accumulation and competitive settings in Korea, characterized by the prominent role of diversified conglomerate firms, the capital flows within conglomerates, investment coordination by the state, and the fast pace of capital accumulation and renewal.


© 2018 IUP. All Rights Reserved.

Article Price : ₹ 50

An Empirical Investigation of the Inter-Linkages Between Different Indices of Multi Commodity Exchange of India
Rakesh Shahani, Udhav Sarin and Madhav Malhotra

The present study makes an attempt to examine the inter-relationship between the movement of the independent indices of the Multi Commodity Exchange of India (MCX), viz., MCX Agri, MCX Metal and MCX Energy. To study the above relation, the monthly returns for these indices were considered for the period June 2006- March 2017. Econometric tools like Augmented Dickey-Fuller (ADF) and Kwiatkowski- Phillips-Schmidt-Shin (KPSS) test of stationarity, Johansen cointegration test, VAR with optimal lag length criteria and Toda and Yamamoto (1995) causality test were used for the purpose of the study. All the variables were found to be stochastic stationary at first difference as revealed by ADF and KPSS tests results. The VAR model was found to be stable as per AR characteristic roots. The results of the study reveal that none of the variables were cointegrated, except MCX Agri which was impacting MCX Metal. However, Toda and Yamamoto (1995) causality test results show unidirectional causality from MCX Agri to MCX Metal.


© 2018 IUP. All Rights Reserved.

Article Price : ₹ 50

Economic Performance Indicators Under Different Monetary Policy Frameworks: Evidence from India
Madhvi Sethi, Saina Baby and Vandita Dar

Monetary policy has been formulated with the purpose of achieving the twin objectives of economic growth and price stability through the successful working of the transmission mechanism. Monetary policy-induced changes in the nominal variables are expected to impact the real economic indicators like GDP and inflation. The evolution of Reserve Bank of India’s (RBI) monetary policy has been divided into four distinct frameworks: pre-monetary targeting, monetary targeting, multiple indicator approach and eventually an inflation-targeting framework since 2015. RBI’s monetary policy strategies have undergone substantial transformation in the last 70 years. The success of each monetary policy framework can be assessed by comparing the impact of monetary policy changes on various economic performance indicators. The purpose of this paper is to compare the performance of economic indicators under different monetary policy frameworks in the postindependence period. The economic performance indicators used in the study are inflation and output gap. Analyzing the monthly data from April 1982 to March 2017, the study finds that the multiple-indicator and the inflation-targeting regimes have had most success in balancing the twin objectives of growth and inflation.


© 2018 IUP. All Rights Reserved.

Article Price : ₹ 50

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