In the early months of this year, as during all of 2005, India was the beneficiary of heavy inflows of foreign capital into the local equity bazaar. But then the tide turned and the Bombay Stock Exchange's Sensitive Index started to plummet, after foreign institutional investors began trimming their exposure. The unwinding of positions was a wakeup call for many investors in India, however, reminding them that this country has been attracting relatively little reliable, long-term, direct investment capital and is, instead, heavily dependent on volatile inflows of short-term funds to finance its current-account balance-of-payments deficit. This is not to suggest that India is headed for an a;;-out crisis. Some argue that the mini-crisis the country has been going through may have a salut...
We present new evidence from a natural experiment to show circumstances in which ownership restrictions can enhance value. Our evidence is based on multiple restricted bond issues by an emerging market issuer at 150 basis points lower than comparable bonds, resulting in a billion dollars saving. This is intriguing: how can an emerging market issuer with junk bond ratings obtain such low yields? We argue ownership restrictions enhance value since they enable an issuer to precommit to renegotiate efficiently with a favored clientele in the potential default states, thereby circumventing deadweight costs of prolonged negotiations, particularly when the restricted clientele also values the underlying collateral higher than other investors. Ownership restrictions can also result in a transfe...
... by an emerging market issuer (namely, India's largest bank, the State Bank of India) exclusive... of real estate, jewelry, family support payments etc. - see Appendix A for details). Thus the value...) have been the main stay of the Indian balance of payments for the past 25 years.24 Annual inflow...
... achieving cooperation will be striking a balance between the negotiating positions of developing an...'s Faustian Climate Bargain and the Payments Coming Due, Distinguished Public Lecture Series at...
[...] the rise of China affects all countries, including the EU as its largest trading partner, not only in terms of trade, but also insofar as it is an engine of the world economy alongside the US. [...] an international body or forum cannot force its mandate on sovereign nations; instead, it must appeal to the mutual self-interest of countries in maintaining stability.
...Meanwhile, after experiencing a major balance of payments crisis in 1991, India's economic polic...
... mortgage means a mortgage providing for payments at regular intervals, with a final payment (?ballo... and pays off or satisfies the outstanding balance of the mortgage. Book-entry GSE Security means a G...(1) American Indian or Alaskan Native?a person having origins in any o...
Employment regulations are needed to allow efficient contracting between employers and workers and to protect workers from discriminatory or unfair treatment by employers. In its indicators on , Doing Business measures flexibility in the regulation of hiring, working hours and dismissal in a manner consistent with the conventions of the International Labour Organization (ILO). An economy can have the most flexible labor regulations as measured by Doing Business while ratifying and complying with all conventions directly relevant to the factors measured by Doing Business4 and with the ILO core labor standards. No economy can achieve a better score by failing to comply with these conventions. In Africa, Uganda (in 2006), Mozambique (in 2007) and Burkina Faso (in 2008) ena...
...A study of 1,948 retail stores in large Indian cities finds that 27% see labor regulations as a p... face the challenge of finding the right balance between worker protection and labor market flexibi... abolished the 50% increase in severance payments that had been part of the 2002 "emergency laws.". ...
India, now considered the second largest growing developing economy in the world, has grown by 9.4% in fiscal year 2006-2007. India has several excellent investment qualities that attract investors. Should foreign leasing companies look into India for business opportunities in the near term, they can benefit from the general openness of India to foreign investors. In line with the positive business climate in India, three areas present opportunities for leasing in India: infrastructure, aircraft leasing, and the automotive business. Like other businesses in India, lessors are not exempt from high taxes. India's total tax rate for all domestic firms is 81.1% of commercial profits. The government's commitment to reform and the country's strong and growing economy will stimulate growth of ...
... by 2 to 4 percentage points.12 Lease payments, however, are fully tax-deductible for the lessees... have now been listed in the companies' balance sheet. In the case of hire purchase transactions, ...
... data on more than 6,000 illegal payments made at police and military checkpoints and at wei...On balance, the results demonstrate that the traditional econ... in the drivers' license department in India suggests that corruption allows people who do not ...
A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries). Interactions between company founders or company officers and employees are not counted as procedures. Procedures that must be completed in the same building but in different offices are counted as separate procedures. If founders have to visit the same office several times for different sequential procedures, each is counted separately. The founders are assumed to complete all procedures themselves, without middlemen, facilitators, accountants or lawyers, unless the use of such a third party is mandated by law. If the services of professionals are required, procedures conducted by such professionals on behalf of the company are count...
... are updated annually, such as those in India, Mexico and Pakistan. These subnational studies po...-up with government agencies and no extra payments. It is assumed that the minimum time required for ... purchased all the assets shown in its balance sheet and hired all its workers. * Operates in the...
Conversely, the applicability of these processes to sex selection may help validate the emerging concept of biomedicalization itself. Since the late 1990s several factors have led to an increased acceptance of sex selection in the United States, including the development of new marketable forms of prepregnancy technologies that do not require an abortion.
... in view the context of sex selection in India for two reasons. First, my refusal to separate the... family identities such as "complete" or "balanced." The notion that sex selection may have something... participation and an increase in dowry payments; and even high levels of female education, combine...
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