In recent times, developing countries across the world have focused on a market-driven approach to address their economic issues. While this has resulted in financial growth, it has also led to a spurt in systemic challenges in many nations. This volume explores the concerns faced by emerging economies from a present-day viewpoint, with in-depth analysis of key issues in economic development such as growth, market structure, poverty measurement, corruption, financial scams, voting behavior, informal credit markets and technology transfer, through the use of theoretical models.
The chapters in this volume have been written in honor of Dipankar Das Gupta and Amitava Bose, two outstanding academicians and contributors to the field of economic theory. With contributions from leading theorists on topics ranging from democracy and development, to patent laws and environmental concerns, this volume bridges the gap between empirical analysis and a theoretical understanding of emerging issues in economic development.
Foreword by Kazuo Nishimura
Acknowledgements
Introduction
Sugata Marjit and Meenakshi Rajeev
Section I Corruption, Information and Transparency
When is Competitive Behavior a Best Response?
Anjan Mukherji
Many Facets of Corruption
Mukul Majumdar and Seung Han Yoo
Section II Growth, Poverty and Markets
Inefficiency and the Golden Rule: Phelps-Koopmans Revisited
Tapan Mitra and Debraj Ray
A Multidimensional Poverty Index
Asis Kumar Banerjee
Transaction Costs and Optimal Market Structure
Meenakshi Rajeev
The Determination of Profits
Romar Correa
Section Iii Informal Credit And Micro-Finance
Vertical Linkage between Formal and Informal Credit Markets: Corruption and Credit Subsidy Policy
Sarbajit Chaudhuri and Krishnendu Ghosh Dastidar
Sequential Lending: Dynamic Institutions and Micro-finance
Prabal Roy Chowdhury
Section Iv Democracy And Development
Democracy, Development and the Informal Sector
Abhirup Sarkar
Efficient and Equilibrium Federation Structures with Externalities
Gordon Myers and Abhijit Sengupta
Section V Bargaining, Technology Transfer and Deterrence
Markets with Bilateral Bargaining and Incomplete Information
Kalyan Chatterjee and Bhaskar Dutta
Technology Transfer as a Means to Combat Global Warming
Vivekananda Mukherjee, Dirk T.G. Rübbelke and Tilak Sanyal
Early Withdrawal of Patented Drugs as an Entry-deterring Device
Sugata Marjit, Tarun Kabiraj and Arijita Dutta
Entry Deterrence in Banking: The Role of Cost Asymmetry and Adverse Selection
Indrajit Mallick, Sugata Marjit and Hamid Beladi
About the Editors and Contributors
Index
Sugata Marjit is the RBI Professor of Industrial Economics and former Director of the Centre for Studies in Social Sciences, Calcutta; Member of the State Planning Board, Government of West Bengal and former Chairman of the West Bengal State Council of Higher Education.
Meenakshi Rajeev is the RBI Chair Professor at the Centre for Economic Studies and Policy, Institute for Social and Economic Change, Bangalore. She has held visiting and teaching positions in many universities including University of California at San Diego and University of Essex.
