Browsing by Author "Ramakrishna, Gollagari"

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    An empirical analysis of energy consumption and economic growth in India: are they causally related?
    (Faculty of Economics and Business Administration, Babes-Bolyai University of Cluj Napoca, 2013) Ramakrishna, Gollagari; Rena, Ravinder
    In this paper an attempt is made to present the energy scenario of India in terms of energy consumption, energy security and energy efficiency. Growth trends and the changes in growth trends of these variables have been estimated for the period 1981 to 2010. In addition, the study makes an attempt to study the causal relationship between energy consumption and GDP both at aggregate and disaggregate levels using cointegration and Vector Error Correction (VECM) methods. The empirical results reveal that India is energy insecure, in spite of an increase in energy efficiency. It seems energy consumption and GDP are bidirectionally related at the aggregate level. In view of these findings some policy suggestions have been provided.
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    Inflows of capital, exchange rates and balance of payments: the post-liberalisation experience of India
    (Indian Institute of Economics, 2013) Ramakrishna, Gollagari; Rena, Ravinder
    A review of the analytical literature shows that macroeconomic consequences of financial liberalization are the results of the combined effect of monetary, fiscal as well as trade and exchange rate policies followed by the government of a country. The results of vector error correction estimates show that total inflows of foreign capital are causing imports; and imports are causing inflows of foreign capital. This means that there is a bi-directional relationship between these two variables. This may be due to an increase in the imports in the industries where more and capital flows are coming in. During the period of Capital Account Convertibility (CAC) there is a positive growth in all the macro economic variables studied. Along with growth the variability has also increased. Both FDI and FPI have registered positive growth rates but along with this the variability also has increased. As expected, FPI is more volatile than FDI flows in India.