Employment Growth in India's Organized Manufacturing in the Post-GFC Period PDF Download
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Author: Bishwanath Goldar
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In the period since 2004, employment in India's organized manufacturing has grown at a relatively fast rate. This trend of rapid employment growth during 2004-2007 has continued in the period following the global financial crisis (GFC), and employment in organized manufacturing has grown at the rate of about four per cent per annum in this period, well above the growth rate in the population in India and the workforce in the economy. This significantly rapid pace of job creation in India's organized manufacturing during 2008-2018 has been achieved despite an unfavourable global economic situation and a marked slowdown in global trade in this period. The pace of employment growth in India's organized manufacturing during 2008-2018 was much higher than the employment growth rate of 0.8 per cent per annum achieved during 1980-1993 and 0.2 per cent per annum during 1994-2003. The hike in the growth rate of employment in the post-GFC period occurred in most industries and most of the states of India. The increase in job opportunities in organized manufacturing in the post-GFC period, reflected in the relatively high growth rate in employment, was accompanied by an increase in the income share of labour in gross value added. The relatively high rate of employment growth in organized manufacturing in the post-GFC period is not attributable to a change in industrial composition towards labour-intensive industries. Nor is it attributable to a faster rate of entry of new manufacturing plants, although the increased employment size of new plants has contributed to employment growth. The explanation lies mostly in shifts in the labour demand function contributing to employment growth, as brought out by an econometric analysis undertaken with the help of plant-level panel data. These shifts in the labour demand function are probably a reflection of the changes that have taken place in the factor-saving bias of the technical change or certain other changes that have taken place in the industrial sector or both. A part of the employment growth in formal manufacturing, about 10 per cent or more, appears to be attributable to the formalization of informal manufacturing enterprises. Also, some empirical evidence is presented in the paper that suggests that the easing of labour regulations by some of the Indian states since 2014 might have contributed to employment growth.
Author: Bishwanath Goldar
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
In the period since 2004, employment in India's organized manufacturing has grown at a relatively fast rate. This trend of rapid employment growth during 2004-2007 has continued in the period following the global financial crisis (GFC), and employment in organized manufacturing has grown at the rate of about four per cent per annum in this period, well above the growth rate in the population in India and the workforce in the economy. This significantly rapid pace of job creation in India's organized manufacturing during 2008-2018 has been achieved despite an unfavourable global economic situation and a marked slowdown in global trade in this period. The pace of employment growth in India's organized manufacturing during 2008-2018 was much higher than the employment growth rate of 0.8 per cent per annum achieved during 1980-1993 and 0.2 per cent per annum during 1994-2003. The hike in the growth rate of employment in the post-GFC period occurred in most industries and most of the states of India. The increase in job opportunities in organized manufacturing in the post-GFC period, reflected in the relatively high growth rate in employment, was accompanied by an increase in the income share of labour in gross value added. The relatively high rate of employment growth in organized manufacturing in the post-GFC period is not attributable to a change in industrial composition towards labour-intensive industries. Nor is it attributable to a faster rate of entry of new manufacturing plants, although the increased employment size of new plants has contributed to employment growth. The explanation lies mostly in shifts in the labour demand function contributing to employment growth, as brought out by an econometric analysis undertaken with the help of plant-level panel data. These shifts in the labour demand function are probably a reflection of the changes that have taken place in the factor-saving bias of the technical change or certain other changes that have taken place in the industrial sector or both. A part of the employment growth in formal manufacturing, about 10 per cent or more, appears to be attributable to the formalization of informal manufacturing enterprises. Also, some empirical evidence is presented in the paper that suggests that the easing of labour regulations by some of the Indian states since 2014 might have contributed to employment growth.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464821038
Category : Business & Economics
Languages : en
Pages : 131
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Book Description
South Asia is expected to continue to be the fastest-growing emerging market and developing economy (EMDE) region over the next two years. This is largely thanks to robust growth in India, but growth is also expected to pick up in most other South Asian economies. However, growth in the near-term is more reliant on the public sector than elsewhere, whereas private investment, in particular, continues to be weak. Efforts to rein in elevated debt, borrowing costs, and fiscal deficits may eventually weigh on growth and limit governments' ability to respond to increasingly frequent climate shocks. Yet, the provision of public goods is among the most effective strategies for climate adaptation. This is especially the case for households and farms, which tend to rely on shifting their efforts to non-agricultural jobs. These strategies are less effective forms of climate adaptation, in part because opportunities to move out of agriculture are limited by the region’s below-average employment ratios in the non-agricultural sector and for women. Because employment growth is falling short of working-age population growth, the region fails to fully capitalize on its demographic dividend. Vibrant, competitive firms are key to unlocking the demographic dividend, robust private investment, and workers’ ability to move out of agriculture. A range of policies could spur firm growth, including improved business climates and institutions, the removal of financial sector restrictions, and greater openness to trade and capital flows.
Author:
Publisher: BRILL
ISBN: 900449961X
Category : Business & Economics
Languages : en
Pages : 443
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Book Description
During the Covid-19 pandemic, the home as a workplace became a widely discussed topic. However, for almost 300 million workers around the world, paid work from home was not news. Home-Based Work and Home-Based Workers (1800-2021) includes contributions from scholars, activists and artists addressing the past and present conditions of home-based work. They discuss the institutional and legal histories of regulations for these workers, their modes of organization and resistance, as well as providing new insights on contemporary home-based work in both traditional and developing sectors. Contributors are: Jane Barrett, Janine Berg, Eloisa Betti, Chris Bonner, Eileen Boris, Patricia Coñoman Carrilo, Janhavi Dave, Saniye Dedeoğlu, Laura K Ekholm, Jenna Harvey, Frida Hållander, K. Kalpana, Srabani Maitra, Indrani Mazumdar, Gabriela Mitidieri, Silke Neunsinger, Malin Nilsson, Narumol Nirathron, Åsa Norman, Leda Papastefanaki, Archana Prasad, Maria Tamboukou, Nina Trige Andersen, and Marlese von Broembsen.
Author: Lionel Fontagné
Publisher: Oxford University Press
ISBN: 019877916X
Category : Business & Economics
Languages : en
Pages : 383
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Book Description
An economic analysis of de-industrialization that considers the ongoing transformation of the industrial economies and the consequences for economic policy.
Author: Bir Singh
Publisher: Taylor & Francis
ISBN: 100088354X
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
The demand for economic inclusion has increasingly intensified, as manifested by the growing movements of farmers, workers and social activists. Therefore, the question of adequate social representation of marginalized and underprivileged communities has to be made pivotal in the discourse of inclusion. This book investigates selected aspects of labour market informality in India. It examines the key factors that have expedited labour informality—contractualisation—in the manufacturing sector since the early 1990s. It analyses the features of informality and inclusion from the perspective of not just class but also the caste hierarchy in Indian society, thus offering readers an exhaustive overview of economic inclusion following the economic reforms and providing fresh insights into labour market informality through the lens of the social divisions in Indian society. Developed on a wide canvas of multiple processes, policies, and factors that have contributed to this phenomenon, the book offers an elaborate analysis of contractualisation within the industry from the perspectives of labour legislation and the labour market. In addition, it contextualizes the issue of job informality for the post-economic reforms era, from 1991 onwards. It examines the impact of the policies of economic reform on contractualisation across industries and states. Further, the book discusses the dynamics of the labour market reforms in India, given that there is a higher incidence of labour informality in India. It also highlights how the policy quest for inclusive growth has remained unfulfilled. This book will be a useful guide for advanced students, academic researchers, scholars and policy makers that are engaged with the issue of informal sector employment.
Author: Dale W. Jorgenson
Publisher: Cambridge University Press
ISBN: 1107143349
Category : Business & Economics
Languages : en
Pages : 597
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Book Description
The first long-term analysis of the process of structural change and productivity growth in Asia, Europe, Latin America and the USA.
Author: Laurent Ferrara
Publisher: Springer
ISBN: 3319790757
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Author: Sebastian Morris
Publisher: Springer Nature
ISBN: 9811912769
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
This book discusses the Indian economic crisis and brings out what went wrong and the correction necessary for getting the economy back to high growth trajectory, leading to economic transformation. To do so, the book covers trends in performance of Indian economy since the Global Financial Crisis to the COVID-19 effect, bringing out factors that have determined the same. The book questions the approach to macroeconomic policy of both the RBI and the government and brings out what it takes for macroeconomic policy to be supportive of high growth. It contains revealing contrasts with East Asia and China, although India has the same potential to grow with an expansion of manufacturing. Overall, it argues that macroeconomic policies (as much as structural, industrial, and trade policies) have been deficient and even good initiatives on the industrial policy and trade flounder for the lack of a strategic approach to macroeconomics. The book highlights the special opportunities present in an emerging economy with vast under and utilised labour and the macroeconomic policy initiatives that can take advantage of this key feature. It covers the macroeconomic data on growth using multiple indicators, then the external shocks and the internal policy measures/responses; besides, GVA/GDP, credit, exports, external transactions, interest and policy rates, yields, exchange rates, money, capital flows, indices of industrial sector, price indices and inflation, government expenditures, tax rates, fiscal deficits, market uncertainty measures to present a holistic picture of the economy and the shocks and policy actions that have followed. The book uses an innovative method of presentation and the consistency of the trends/stances of both monetary and fiscal policy using these large number of variables. It discusses the debate on overestimation of GDP/GVA growth estimates over the years from 2011-12 to about 2016-17 comprehensively. There is special coverage of GST with a comparison with China. Coverage also includes performance since the COVID-19 crisis again using a large number of indicators and an explanation for the same in terms of the limitations of the government’s initiatives to counteract. The book is a quick and ready reference of what has happened in macroeconomic terms to those interested in the relevant facts. It is of interest to international economists, policy analysts, and investors whose need to understand that the Indian economy in macroeconomic terms and in terms of the stances and penchant of the government and the RBI is of value.
Author: Sunil Mani
Publisher: Springer Nature
ISBN: 9811608695
Category : Business & Economics
Languages : en
Pages : 439
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Book Description
This book is a collection of fifteen contributions that undertake a detailed analysis of seven broad dimensions of India’s economy and society. All the contributions approach the problems in their respective areas empirically, while being theoretically informed. The book begins with a section containing detailed and empirically supported chapters on the recent crisis in India’s agricultural sector and the reforms in the agricultural markets. Another section is dedicated to the issue of infrastructure financing, and new ways of financing large infrastructural projects are critically examined. Other sections are related to innovations and technology impacts on industry; international trade; health and education; labor and employment; and the very important issue of gender. The selected discussion topics are both of contemporary importance and expected to remain so for some time. Most of the chapters introduce readers to data in addition to methods of analyzing this data, to arrive at policy-oriented conclusions. The rich collection carries learnings for researchers working on a wide range of topics related to development studies, as well as for policymakers and corporate watchers.
Author: Edimon Ginting
Publisher: Asian Development Bank
ISBN: 9292610791
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
The book focuses on Indonesia's most pressing labor market challenges and associated policy options to achieve higher and more inclusive economic growth. The challenges consist of creating jobs for and the skills in a youthful and increasingly better educated workforce, and raising the productivity of less-educated workers to meet the demands of the digital age. The book deals with a range of interrelated topics---the changing supply and demand for labor in relation to the shift of workers out of agriculture; urbanization and the growth of megacities; raising the quality of schooling for new jobs in the digital economy; and labor market policies to improve both labor standards and productivity.
