https://i-scholar.in/index.php/ArthaVij/issue/feed Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics 2022-10-12T16:41:14+00:00 Prof Ajit Ranade arthavijnana@gipe.ac.in Open Journal Systems Artha Vijnana, started in March 1959, is a quarterly journal of Gokhale Institute of Politics and Economics. This is a peer reviewed journal which publishes original articles in Economics and other social sciences. Artha Vijnana is published four times a year in March, June, September, and December. The ISSN number of the journal is 0971-586X. The financial support of Indian Council for Social Sciences Research (ICSSR) for production of the journal is gratefully acknowledged. https://i-scholar.in/index.php/ArthaVij/article/view/215276 Did Indians Import Gold Only for Hoarding? A Re-Examination of Gold Flows in British India Between 1861 and 1919 2022-10-12T16:41:13+00:00 Vibha Iyer An inadequate understanding of the nature of the colonial economy of India characterised by tax-financed transfers to Britain coupled with the incomplete nature of trade data in the Statistical Abstracts of British India, has led economic historians to wrongly conclude that India imported gold only for hoarding. Using Council Bills data to define India’s commodity export surplus more accurately, this paper offers a retrospective re-classification of British India’s gold flows from 1861 to 1919 into Commodity and Financial gold and shows that a substantial proportion of gold imported towards the end of the nineteenth century was for financial purposes. 2022-09-01T00:00:00+00:00 https://i-scholar.in/index.php/ArthaVij/article/view/215277 Resurgent Asia: Reinforcing Faith Back in Flexible Capitalism (Markets) 2022-10-12T16:41:13+00:00 M.L. Pandit mlpandit@gmail.com While the developed world’s transformations had materialised exclusively under capitalism, attempts to explore new systems, ostensibly for faster and inclusive growth, began after the 1917 Bolshevik Revolution in Russia. But communist China’s 1978 pioneering and rewarding market embrace did not only reinforce faith back in capitalism, broadly defined, but also made the embrace nearly universal soon after. How rewarding has the embrace really been? Since Asia, the world’s most populous and impoverished continent until 1950, has been the fastest growing region of the world economy thereafter, notably after wider market embrace, it offers an ideal field to investigate and identify the best performing economic system. 2022-09-01T00:00:00+00:00 https://i-scholar.in/index.php/ArthaVij/article/view/215278 Small Exporting Firms in the Fruits and Vegetables Sector in India: An Empirical Study 2022-10-12T16:41:13+00:00 Vanida Pimkord pimvanida@live.com Mandira Sarma This paper presents an empirical study on the determinants of export orientation and export performance of the Fruits and Vegetables based Micro, Small and Medium Enterprises (MSMEs) in India. Using firm level data from the fourth all-India MSME census and applying econometric models, we find that firms’ individual characteristics, location specific factors, access to institutional credit and business environment were positively associated with export orientation of these MSME units. Larger MSMEs had significantly higher export growth. Promotional schemes of the government for MSME sector did not have any impact on export potential and export performance of these MSMEs, indicating that benefits of such schemes have not penetrated in these MSMEs. 2022-09-01T00:00:00+00:00 https://i-scholar.in/index.php/ArthaVij/article/view/215279 Is the Growth Pro-Poor in Odisha Since 1990’s? 2022-10-12T16:41:14+00:00 Priyabrata Sahoo priyabrata.s@bhu.ac.in Balakrushna Padhi This study examines whether the economic growth in Odisha is pro-poor since the 1990s by applying, Pro-poor Growth Index (PGI), Poverty Equivalent Growth (PEG), Growth Incidence Curve (GIC) methods and using the NSSO 1993-1994, 2004-2005 and 2011-2012 Consumer Expenditure Survey. The change in poverty has been decomposed into growth in income (MPCE) and redistribution to look into the pro-poorness effect of growth. The results show that the slower rise in MPCE and faster increase in inequality, which offset the poverty reduction in the 1<sup>st</sup> period, causes a slow reduction in poverty. The faster reduction in inequality in the 2<sup>nd</sup> period with an increase in real MPCE has resulted in more rapid reduction in poverty in the state. Throughout the analysis, the growth effect of poverty reduction outweighs the inequality effect, causing a reduction in poverty in Odisha. The PGI, PEG and GIC show that the 2<sup>nd</sup> period in Odisha is pro-poor. 2022-09-01T00:00:00+00:00 https://i-scholar.in/index.php/ArthaVij/article/view/215280 Impact of Remittances on Exports and Economic Growth: A Cross Country Analysis 2022-10-12T16:41:14+00:00 Imtiyaz Ahmad Shah shahimtiyazccas@gmail.com Imtiyaz ul Haq We present robust results on the impact of remittances on exports and economic growth for panel data sets of 38 high-income and 54 middle-income countries for 2000-2020. First, we estimate the impact of remittances on exports after controlling economic growth. By panel dynamic panel estimation, when regressing remittances on exports, remittances show an inverse U-shaped relationship with a threshold value of ln(12.63) for high-income and ln(15.66) middle-income countries above which exports begin to fall. Economic growth is showing a positive and significant impact on exports. Second, we estimate the impact of remittances and exports on economic growth after controlling various macro determinants of economic growth. On economic growth, remittances present a U-shaped relationship with threshold value ln(12.63) for higher income and ln(15.66) for lower-income countries above which economic growth starts to rise. Exports are showing a positive and significant effect on economic growth. A 100 per cent increase in exports leads to a 15 per cent and 12 per cent increase in economic growth of high-income and middle-income countries. The other variables like physical capital per labour and human capital are showing positive and significant impact on economic growth. Government expenditure has a negative coefficient; thus deteriorates economic growth. 2022-09-01T00:00:00+00:00 https://i-scholar.in/index.php/ArthaVij/article/view/215281 Experimental Economics and Game Theory: A Case Study 2022-10-12T16:41:14+00:00 Dhanya Shankar K. S. dhanya.shankar08@gmail.com Game theory is the formal study of conflict and cooperation. Game theoretic concepts apply whenever the actions of several agents are interdependent. These agents may be individuals, groups, firms, or any combination of these. The concepts of game theory provide a language to formulate structure, analyse, and understand strategic scenarios. Supermarkets are one such industry which is characterized by a narrow profit margin and cut throat competition which had necessitated the need for the formulation and implementation of strategic decision. This interplay of decision making is similar to that of a game. This game of strategy can be used to test the real world theoretical implications of game theory. Thus from this context there arises the need of a study to test the game theory against the experimental evidences of real world economy and the analysis of the implications of game theory in experimental economics. 2022-09-01T00:00:00+00:00