Browsing by Author "Rao, N.V.M."

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Analysing the role of fintech and resource use in shaping environmental outcomes using load capacity factor in G20 countries
(Springer, 2025-07) Rao, N.V.M.; Bal, Debi Prasad
This study examines the dynamic interrelationships between financial technology (fintech), natural resource rents, economic growth, urbanization, and environmental sustainability, using the Load Capacity Factor (LCF) as a composite measure of ecological balance. Unlike prior studies that rely solely on demand-side indicators such as carbon emissions or ecological footprint, this research employs LCF to capture both environmental supply and demand dimensions. Utilizing annual data spanning from 2005 to 2022, we construct fintech index using variables, namely, automated teller machine, mobile cellular subscription, fixed broadband subscription, and internet usage, by employing Principal Component Analysis approach. For preliminary testing, current study considers cross-sectional dependency test, slope homogeneity tests, pedroni and westerlund tests for cointegration and pairwise dumitrescu hurlin panel granger causality tests, and common correlated effects mean group and driscoll-kraay estimation for robustness. For result findings, we utilized the panel Vector Autoregression (Panel-VAR) method to illustrate the dynamic relationships among these variables. Our findings from Panel VAR approach indicate that fintech shocks initially have a positive impact on natural resource rent and load capacity factor but this effect weakens over later horizon, suggesting the need for cautious policy design. Furthermore, economic growth responds positively to fintech shocks, while the influence of fintech on natural resource rent and urbanization appears to be negative. From a policy standpoint, our research suggests that promoting fintech could mitigate environmental degradation and contribute to sustainable development.
The antecedents of entrepreneurial intention among women entrepreneurs in India
(Emerald, 2020-04) Rao, N.V.M.
The purpose of this paper is to understand the role of entrepreneurial intention in promoting women entrepreneurship in Indian micro, small and medium enterprises (MSMEs). This study seeks to clarify the construct of entrepreneurial intention and then reports the validation of the entrepreneurial intention instrument.
An empirical investigation of the link between infrastructure development and poverty reduction: The case of India
(Emerald, 2017-12) Rao, N.V.M.
India is a developing nation where the marginal benefit of infrastructure development is tremendous. The purpose of this paper is to analyze the relationship between infrastructure development and poverty reduction for India using the yearly data from 1991 to 2015.
Estimating an optimal debt/GDP ratio: an empirical investigation for Indian states
(Inder Science, 2021-04) Rao, N.V.M.
The objective of this study is to get an insight into the debt scenario of different states of India and understand the factors governing it, thereby estimating an optimal debt/GDP ratio for each of them. The study begins with estimating the trend for optimal debt and plotting it parallel to the actual debt for each Indian state for the time period from 2002-2003 to 2014-2015. Modified Blanchard (1983) model was employed for estimating optimal debt/GDP ratio. The results display notable difference between optimal debt/GDP ratios and actual debt/GDP ratios for almost all Indian states. In states where debt/GDP ratio is rising constantly, the governments should aim at achieving a balance between anchoring debt sustainability and high growth yield in the long run. For states where actual debt/GDP ratio is below the optimal level, policy focus should be on providing cushion against external financial crisis and market shocks.
Estimating the determinants of public private partnerships in infrastructure: the case of India
(Inder Science, 2018-09) Rao, N.V.M.
Public private partnership (PPP) mode of financing is quickly becoming the favoured way to invest and fund infrastructure in India. This paper focuses exclusively on the PPP mode of infrastructure financing by examining and estimating the significant determinants of attracting any PPP in India. The empirical findings indicate that for India a higher cash deficit with huge government debt tends to attract more number of PPP projects. The study also suggests that political factors play a crucial role for the private sector in terms of making decisions regarding involvement of the PPP mode for financing infrastructure. Ultimately, there is evidence in favour of all the channels except the macroeconomic factors. While examining the investment aspect for PPPs, it was concluded that soft governmental constraints, market conditions and effectiveness of government proved to be decisive
Estimating the Efficiency of Public Infrastructure Investment: A State-wise Analysis
(Sage, 2018-05) Rao, N.V.M.
The objective of this study is to empirically analyse the relationship between public infrastructure investment and economic growth for India using yearly data for its 28 states (excluding Telangana). We have taken six major sub-sectors falling under infrastructure sector: transport; education, sports, arts and culture; energy; medical and public health; telecommunication; and water supply and sanitation. We have aimed to analyse the efficiency of each of these sub-sectors using data envelopment analysis (DEA). For every state, we have used the public investment data from the state budget files as input while sector-specific infrastructural criterions and sector-wise revenue are taken as outputs. We have gone by the logic that a state’s particular sub-sector of infrastructure will be highly efficient if it is able to use up the investment allotted to it and create a stronger infrastructure as compared to other states, subsequently generating higher amount of revenues. For each sector, various infrastructural criteria were clubbed together using principal component analysis technique to construct a single infrastructure index (representing the sector-wise output). Further, DEA was applied to calculate efficiency for each Indian state and they were ranked based on their efficiency scores. The analysis tells us that policy-making and budget allocation may be done in accordance with standing performances of different states in various sectors and the goals of the respective state governments.
Examining the impact of public investment and private investment on economic growth: empirical evidence from BRICS nations
(Inder Science, 2017) Rao, N.V.M.
: This paper examines the factors impacting economic growth and the interlinkages of public investment, foreign direct investment (FDI), and private domestic investment using a panel data sample of Brazil, Russia, India, China and South Africa (BRICS) group of nations covering the time period of 1990 to 2014. We have made use of economic growth models suggested by Vu Le and Suruga (2005) in order to estimate economic growth and the individual impact of public investment on FDI and private domestic investment, respectively. The empirical results indicate that the private domestic investment along with FDI play a significant role in contributing towards economic growth. Further, analysing the impact of public investment on FDI and private domestic investment suggests that an increase in public investment in BRICS nations reduces the positive impact of FDI and private domestic investment on economic growth (crowding-out effect) when exceeding certain extent levels. Hence, we can conclude that from an overall prospective, public investment in BRICS nations has a substitutable effect on FDI and private domestic investment.
Examining the interlinkages between regional infrastructure disparities, economic growth, and poverty : a case of Indian states
(Economic annals, 2015) Rao, N.V.M.
Gender Differences in Influence of Socio-demographic Characteristics on Mode Choice in India
(Korea Science, 2020) Rao, N.V.M.
The study aims to investigate differences between men and women in influence of various socio-demographic factors on choice of mode of transport. For this purpose, a binary logit model of choice probabilities is implemented on survey data of a developing country city. Results indicate women's choice of travel mode to be more environment-friendly than that of men. Well-educated, working and middle-aged individuals appear to be the most likely to choosing more-polluting modes of transport for frequent travelling purposes. Individuals in the sample who are the least socioeconomically well off are found the most likely to be promising for the environment. The findings of this study suggest the future transportation policies toward development of existing infrastructure of greener modes of transportation in the city such as, public transportation services and pedestrian lanes, so as to manage the rising issues of degrading environmental quality. The study highlights how the consideration and inclusion of socio-demographic factors is crucial for policy recommendation regarding curtailing the environmental damages contributed by transportation sector. Because mobility crucially affects all other indicators of empowerment, and women are the ones using green modes extensively, the city's transportation system should be so developed which gives their safety and security due importance.
Gender gap in travel behaviour and public opinion on proposed policy measures: Evidence from India
(Wiley, 2023-01) Rao, N.V.M.
Employing primary survey data collected from Jaipur city in India, this work attempts to evaluate inconsistencies in travel behaviour based on gender. It also intends to discuss the public opinion on a few proposed policy changes which can aid in bridging the established gender gap. Stratified random sampling approach is used to gather data on travel pattern measures and socioeconomic attributes. Descriptive statistics complemented with bivariate probit model and seemingly unrelated bivariate probit model is applied on the data acquired. The obtained results confirm the existence of a gender gap in all observed measures of travel behaviour. Compared to men, women travel shorter distances, use more of non-motorised modes of transport, have lower frequency of travelling, and travel majorly for purposes other than work. Results of the study also highlight how a majority of the respondents are in favour of policy changes aimed at narrowing the observed gender disparities. The analysis demands infrastructural development of non-motorised transportation and public transportation in the city in such a way which is both efficient and secured, so as to neither obstruct the objective of empowerment nor of sustainability.
Generator Estimation for Transition Matrices with Applications to Credit Ratings
(SSRN, 2017) Rao, N.V.M.
The major objective of this paper is to identify conditions under which a true generator can or cannot exist for an empirically observed transition matrix. In this study, an approach to finding a valid generator has been presented and the signs to look for, when trying to choose the ‘correct’ generator, have been forwarded. Conditions for the estimation of an approximate generator when a true generator does not exist have also been explored in this paper. Finally, we have given illustrations using transition matrices published by CRISIL
Impact of globalization on human rights: evidence from Sub-Saharan Africa
(Emerald, 2020-11) Rao, N.V.M.
The study extends the Poe and Tate (1994) model, which enumerates the various determinants of human rights. Ordered probit estimation is used to estimate the impact of globalization and its dimensions. For the purpose of empirical analysis, the period has been divided into three phases: short, medium and long term. This helps in understanding how the impact of the different dimensions of globalization has evolved over a period of time. Furthermore, analysis has been carried out to detect causality between human rights and globalization.
Impact of the Intellectual Property System on Economic Growth
(WIPO, 2010) Verma, Sanjay Kumar; Rao, N.V.M.
There has been a lot of controversy on the role of intellectual property protection (IPP) regime especially the patent system in fostering innovation,technology and industrial development of a country. IPP is expected to encourage innovation by rewarding the inventor. Strong IPP regime may also inhibit diffusion of knowledge and even technology development in the countries that are technology followers. Countries have fine-tuned their IPP regimes as per their developmental requirements. Against this backdrop, the on-going attempt to harmonize and strengthen the IPP regimes worldwide, as a part of the TRIPs Agreement, is widely seen to be adversely affecting the technological activity in developing countries by choking the knowledge spillovers besides implications for the access and affordability to lifesaving drugs by the poor.
Infrastructure development and income inequality in India: an empirical investigation
(Inder Science, 2020) Rao, N.V.M.
The purpose of this paper is to investigate the relationship between infrastructure development and income inequality in India from 1991 to 2012, by using the auto regressive distributed lag (ARDL) bound testing approach. The co-integration test confirms the presence of a long run relationship between infrastructure development and income inequality. The ARDL test results indicate that infrastructure development does not help in reducing income inequality. Both inflation and economic growth amplify the income inequality both in the long run as well as the short run whereas trade openness comes out to be the indicator which is able to decrease the gap between rich and poor in India. The study calls for adopting economic policies and reforms which are aimed at developing and strengthening the infrastructure levels, bringing in more investment in order to achieve the much required inclusive growth, and ultimately reduce the income inequality currently prevailing in India.
Infrastructure financing and economic growth in India: an empirical investigation
(Emerald, 2018-10) Rao, N.V.M.
This paper aims to suggest the preferred mode of financing for major sub-sectors of infrastructure: roads, seaports, telecommunication and energy by examining which mode of infrastructure financing – public, private or public–private partnership (PPP) – has the maximum positive impact on the overall GDP of India. The same exercise was carried out for the overall infrastructure sector by integrating data from all the four sub-sectors.
Integrating the issue of infrastructural investment with economic growth: The case of India
(AGER, 2016) Rao, N.V.M.
The development of a country’s infrastructure is instrumental in accelerating its economic growth. The inadequacy in the infrastructure provisions hinders population to promote self reliance in economic sectors, thereby proving to be a hindering factor to economic growth. Through this paper, we have aimed to investigate the relationship between investment in key infrastructure sectors and economic growth, in order to see how these sectors impact India’s economic growth and how significant this impact is. Further, a detailed qualitative analysis of all the infrastructure sectors involved in our study has been done with a focus on explaining the reasons behind significance/ insignificance of a particular sector. In the final part of analysis, a budget allocation model has been formulated with the help of linear programming technique. This model gives us a fresh viewpoint of the prospective inclination of government budget, and its extent of allocation to the diversity of infrastructure sectors.
Investigating the effect of dopant type and concentration on TiO2powder microstructure via rietveld analysis
(Elsevier, 2018-02) Roy, Banasri; Rao, N.V.M.
The influence of dopant types (anion: Cl and F; cation: Fe and Zn) on the phase transformation, crystallite size, lattice parameters, and lattice strain of TiO2 powder is investigated by Rietveld refinement of X-ray powder diffraction (XRD) data. Undoped and doped powders are synthesized by using a sol-gel route and heat treated for different times and temperatures. In general, dopants diminish the phase transformation rate and decrease particle size (FESEM data support), but F doping demonstrates the strongest effect. Cation doping induces defects and distortion in the lattice and increases strain both in anatase and rutile phases, but anion doping enhances strain in anatase only. The decreasing order of the dopants inducing strain in anatase and rutile phases is observed as F > Zn10% > Cl > Zn5%> Fe10% > Fe5% ≈Zn1%>Fe1%>UD, and Zn10% > Fe10% > Zn5%>Fe5%> Zn1%> Fe1%> UD > Cl > F, respectively. This could be explained from EDX study, which shows that the anion dopants, irrespective of the amount, abandon the material at a treatment temperature ≥400 °C. This may create high defect density in anatase, influence phase transformation, and particle size. But, the high temperature ion mobility annihilates the point defects and shows less strain in rutile. Whereas, the cations assimilate in structure and show similar effects in both the phases.
Investigating the interlinkages between infrastructure development, poverty and rural–urban income inequality Evidence from BRICS nations
(Emerald, 2016-09) Rao, N.V.M.
The purpose of this paper is to investigate the relationship between infrastructure development, rural–urban income inequality and poverty for BRICS economies
Investigating the issue of fiscal sustainability in India: a state level analysis
(Inder Science, 2021) Rao, N.V.M.
This article offers an analysis of the dilemma confronting India currently with fiscal sustainability. The goal of this analysis is to develop a method to determine and analyse the fiscal sustainability component. To accomplish this, the current study deduced a fiscal sustainability measure whose nomenclature was defined as 'sustainability gap'. This approximation was calculated for 28 Indian states with the exception of Telangana. The present analysis is performed using the secondary information provided by the respective website of the state government in view of the 2006-2007 to 2017-2018 time frames. The states are grouped into three divisions on the basis of 'sustainability gap' values: good performer, average performer and poor performer. The current manuscript stresses that Indian states must concentrate on reducing their public debt if they wish to shift towards fiscal sustainability. The time has come for us to engage the private sector through public-private collaborations (PPPs).
Investigating the Landscape of India's Balance of Payments: Cointegration and Causality Analysis
(Centre for Environment & Socio-Economic Research Publications, 2015) Rao, N.V.M.
This paper makes an attempt to investigate the landscape of India's Balance of payments (BOP) by analyzing the significant variables related to India’s BOP over the period of 1980-2013. The empirical results from our analysis establish that there is a cointegrating relationship between BOP, Balance of Trade (BOT), Foreign Direct Investment (FDI) and Exchange Rate (EXR- INR vs $). The analysis finds the existence of bidirectional causality between FDI and BOT and between FDI and BOP. Unidirectional causality is also found running from EXR to FDI, EXR to BOT and from BOP to BOT. The research study proposes that expansion of FDI will lead to an improvement in BOT along with a positive impact on India’s Balance of Payments. Therefore, focusing on the long term stability, it is proposed that foreign inflows need to be enhanced along with a dual aim of increasing the exports and keeping a check on our imports, if we are to proficiently tackle and remove any concerns on India’s balance of payments scenario.