BITS Faculty Publications
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Item Examining the tourism-induced environmental Kuznets curve hypothesis for India(Springer, 2023-12) Mohapatra, Geetilaxmi; Giri, Arun KumarThis paper revisits the debate on the possible impact of tourism sector development on carbon emissions using annual time series data from 1980 to 2019. The present study is a pioneering attempt to estimate the threshold point for tourism-induced environmental Kuznets curve (EKC) for India. For this purpose, the autoregressive distributive lag model and block-exogeneity Granger non-causality test have been employed. The empirical results confirm a long-run cointegrating relationship between tourist sector development, real GDP per capita, energy consumption, urbanization and carbon dioxide (CO2) emissions in India. The results also indicate a positive and significant association between the tourism sector, economic growth, and carbon emissions in the long run and support the tourism-induced EKC hypothesis in India. Further, the study finds a long-run and short-run causal nexus between the variables. The findings also emphasize the need to rely less on the use of fossil fuels and instead transition to green energy production in the tourism industry. Given the size of the tourism industry in India, such practices would make a meaningful contribution to inclusive and sustainable development in the country.Item Dynamic linkages between trade, growth, inequality, and poverty in emerging countries: An application of panel ARDL approach(Taylor & Francis, 2023-07) Mohapatra, GeetilaxmiWith the transition from Millennium Development Goals (MDGs) to Sustainable Development Goals (SDGs), the concept of development has shifted from development to inclusive development. This motivates authors to include not only growth and inequality but also poverty, which will represent our concept of inclusive development. The literature on trade and its impact on inequality and poverty is ambiguous and heterogeneous, reflecting the need for more empirical analyses to enable effective policy targeting and implementation. The study examines the dynamic linkages between trade and the GIP triangle (economic growth, poverty, and inequality) in 18 emerging countries from 1991 to 2020. As a contribution to the existing literature, the study emphasizes direct and indirect linkages between trade and the GIP triangle. Using the panel ARDL approach for panel data, the study finds that trade promotes growth. Trade also helps in deteriorating income inequality, while it is not a factor of poverty eradication in emerging economies. The study recommends that to maximize the effectiveness of trade policies; they must be complementary and implemented in tandem with trade reformsItem Establishing the relationship between population aging and health care expenditure in India(Emerald, 2022-02) Giri, Arun Kumar; Mohapatra, Geetilaxmi; Arora, RahulThe main purpose of this paper is to examine the role of population aging in determining the health care expenditure (HCE) in India over the period 1981 to 2018.Item The composition of public expenditure and economic growth in India: Evidence from auto regressive distributed lag approach(JER, 2016-08) Giri, Arun Kumar; Mohapatra, GeetilaxmiThe present study examines the role of various components of pub- lic expenditures on economic growth in India during the period from 1980 to 2013. The study used ARDL approach to examine the long run and the short run dynamic relationship. The VECM based Granger causality test is utilized to check the direction of causality. The results reveal that there exists a long run cointegrat- ing relationship between economic growth, developmental expen- diture, fiscal deficit and gross private investment. The ARDL es- timates show significant positive long run impact of development expenditure on economic growth. However, the non development expenditure and revenue expenditure reveal insignificant impact on economic growth. The causality test estimates indicate short and long run unidirectional causality running from development expen- diture and fiscal deficit to economic growth in IndiaItem Foreign aid, macroeconomic policies and economic growth nexus in India: An ARDL bounds testing approach(2016) Giri, Arun Kumar; Mohapatra, GeetilaxmiThe purpose of this paper is to examine the effectiveness of foreign aid on economic growth in Indian economy using annual data from 1970 to 2014. The cointegration test confirms a long run relationship between real GDP per capita and foreign aid for India. The study finds a positive and significant impact of foreign aid on economic growth in India both in long run and in short run. Our results provide strong evidence that effectiveness of foreign aid on economic growth is contingent on macroeconomic policy environment in India. The VECM results confirm short-run and long run unidirectional causality running from foreign aid, government expenditure and trade openness to economic growth in India. Further, the results of the variance decomposition approach indicate that economic growth in India mostly explained by foreign aid. Further, the impulse response function result indicates that there is positive response in economic growth due to shock stemming in foreign aid. The findings and the results are useful guidelines for major stakeholders, including donors and the government of recipient countries for designing framework for aid effectivenessItem The impact of financial development, economic growth and energy consumption on environmental degradation: Evidence from India(Emerald, 2015-08) Giri, Arun Kumar; Mohapatra, Geetilaxmihe purpose of this paper is to investigate the impact of financial development, economic growth and energy consumption on environment degradation for Indian economy by using the time series data for the period 1971-2011