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Full-Text Articles in Social and Behavioral Sciences
India: Reserve Requirements, Gfc, Sharon Nunn, Carey K. Mott
India: Reserve Requirements, Gfc, Sharon Nunn, Carey K. Mott
Journal of Financial Crises
As international funding sources dried up during the Global Financial Crisis of 2007–2009 (GFC), businesses in India sought funds from domestic financial institutions, straining banks and lifting short-term lending rates. The liquidity pressure, coupled with sharp asset price corrections and rupee depreciation, restricted credit expansion in India. The Reserve Bank of India (RBI) responded with a suite of liquidity measures, including cuts to its two reserve requirement ratios, the cash reserve ratio (CRR) and the statutory liquidity ratio (SLR). The RBI cut the CRR over the course of four months from October 2008 to January 2009, lowering the ratio from …
Human Capital Development And Parental Investment In India, Orazio P. Attanasio, Costas Meghir, Emily Nix
Human Capital Development And Parental Investment In India, Orazio P. Attanasio, Costas Meghir, Emily Nix
Cowles Foundation Discussion Papers
We estimate production functions for cognition and health for children aged 1-12 in India, where over 70 million children aged 0-5 are at risk of developmental deficits. The inputs into the production functions include parental background, prior child cognition and health, and child investments. We use income and local prices to control for the endogeneity of investments. We find that cognition is sensitive to investments throughout the age range we consider, while health is mainly affected by early investments. We also find that inputs are complementary, and crucially that health is very important in determining cognition. Our paper contributes in …
Human Capital Development And Parental Investment In India, Orazio P. Attanasio, Costas Meghir, Emily Nix
Human Capital Development And Parental Investment In India, Orazio P. Attanasio, Costas Meghir, Emily Nix
Cowles Foundation Discussion Papers
We estimate production functions for cognition and health for children aged 1-12 in India, based on the Young Lives Survey. India has over 70 million children aged 0-5 who are at risk of developmental deficits. The inputs into the production functions include parental background, prior child cognition and health, and child investments, which are taken as endogenous. Estimation is based on a nonlinear factor model, based on multiple measurements for both inputs and child outcomes. Our results show an important effect of early health on child cognitive development, which then becomes persistent. Parental investments affect cognitive development at all ages, …
Human Capital Development And Parental Investment In India, Orazio P. Attanasio, Costas Meghir, Emily Nix
Human Capital Development And Parental Investment In India, Orazio P. Attanasio, Costas Meghir, Emily Nix
Cowles Foundation Discussion Papers
In this paper we estimate production functions for cognition and health throughout four stages of childhood from 5-15 years of age using two cohorts of children drawn from the Young Lives Survey for India. The inputs into the production function include parental background, prior child cognition and health and child investments. We allow investments to be endogenous and they depend on local prices and household income, as well as on the exogenous determinants of cognition and health. We find that investments are very important determinants of child cognition and of health at an earlier age. We also find that inputs …