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Full-Text Articles in Social and Behavioral Sciences
India’S Unlikely Democracy: Economic Growth And Political Accommodation, Aseema Sinha
India’S Unlikely Democracy: Economic Growth And Political Accommodation, Aseema Sinha
CMC Faculty Publications and Research
There is no doubt that India’s democracy has become stable, yet economic change could create distributional conflicts and stresses on its democratic institutions. Economic change and liberalization have served to reinforce and further stabilize democracy rather than undermining it. This has happened partly because of the nature of economic and social transition, which has allowed the rich many options in the private, urban, and global economy. Simultaneously, the poor are divided and seek redress through electoral and democratic channels. Weak coalition governments in the 1990s have responded to claims from the poor contributing to the continuing stability of Indian democracy.
The Efficiency Of Emerging Stock Markets: Empirical Evidence From The South Asian Region, Arusha V. Cooray, G. Wickramasighe
The Efficiency Of Emerging Stock Markets: Empirical Evidence From The South Asian Region, Arusha V. Cooray, G. Wickramasighe
Faculty of Commerce - Papers (Archive)
This paper examines the efficiency in the stock markets of India, Sri Lanka, Pakistan and Bangladesh. The Augmented Dickey Fuller (ADF-1979, 1981), the Phillips-Perron (PP-1988), the Dicky-Fuller Generalized Least Square (DF-GLS-1996) and Elliot-Rothenberg-Stock (ERS – 1996) tests are used to examine weak form stock market efficiency. Weak form efficiency is supported by the classical unit root tests. However, it is not strongly supported for Bangladesh under the DF-GLS and ERS tests. Cointegration and Granger causality tests are used to examine semi-strong form efficiency. Semi-strong form efficiency is not supported as these tests indicate a high degree of interdependence among the …