Economy of India

Summary

The economy of India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable public sector in strategic sectors. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), on a per capita income basis, India ranked 139th by GDP (nominal) and 127th by GDP (PPP). From independence in 1947 until 1991, successive governments followed Soviet model and promoted protectionist economic policies, with extensive sovietization, state intervention, bureaucrat driven enterprises and economic regulation. This is characterised as dirigism, in the form of the Licence Raj. The end of the Cold War and an acute balance of payments crisis in 1991 led to the adoption of a broad economic liberalisation in India and indicative planning. Since the start of the 21st century, annual average GDP growth has been 6

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https://en.wikipedia.org/wiki/Economy_of_India

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This study uses accessibility as a performance measure to evaluate a matrix of future land use and network scenarios for planning purposes. The concept of accessibility dates to the 1950s, but this type of application to transportation planning is new. Previous research has established the coevolution of transportation and land use, demonstrated the dependence of accessibility on both, and made the case for the use of accessibility measures as a planning tool. This study builds off of these findings by demonstrating the use of accessibility-based performance measures in the Twin Cities Metropolitan Area. This choice of performance measure also allows for transit and highway networks to be compared side-by-side. For roadway modeling, zone-to-zone travel time matrix was computed using stochastic user equilibrium (SUE) assignment with travel time feedback to trip distribution. A database of schedules was used on the transit networks to assign transit routes. This travel time data was joined with the land use data from each scenario to obtain the employment, population, and labor accessibility from each traffic analysis zone (TAZ) within specified time ranges. Tables of person-weighted accessibility were computed for 20 minutes with zone population as the weight for employment accessibility and zone employment as the weight for population and labor accessibility. Maps of accessibility by zone were produced to show the spatial distribution of accessibility across the region. The results show that a scenario where population and employment growth are concentrated in the center of the metropolitan area would produce the highest accessibility no matter which transportation network changes are made. However, another scenario which concentrates population growth in the center of the metropolitan area and shifts employment growth to the periphery consistently outperforms the scenario representing the projected 2030 land use without any growth management strategy.

Wiley-Blackwell2013

We characterize the unique equilibrium in an economy populated by strategic CARA investors who trade multiple risky assets with arbitrarily distributed payoffs. We use our explicit solution to study the joint behavior of illiquidity of option contracts. Option bid-ask spreads are proportional to risk aversion and risk-neutral variances of option payoffs. Spreads may decrease in risk aversion, physical variance, open interest, and increase after earnings announcements in a result contrary to conventional wisdom. All these predictions are confirmed empirically using a large panel data set of U.S. stock options.

OXFORD UNIV PRESS INC2022

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