Archive for June 3rd, 2016

A database on SAARC economies and how knowhow is shared..

June 3, 2016

I was surfing through RBI’s Database on Indian economy and came across this link on the homepage: SAARCFINANCE Database.

As I clicked on it, it looked really similar to the RBI’s DBIE. On a closer look at the url, I realised that this database is indeed developed and managed by RBI itself. What is also interesting is that tables here are arranged and presented as RBI does in Indian economy database as well.  So, for an RBI database user, one is really comfortable downloading and seeing the files.

Even more interesting is how knowhow is shared and transmitted across countries. There is little doubt that India has to take the lead in all such developments. They may look soft but are really important in their own ways.

India is a much larger economy in SAARC forum and has to take the burden. India has been doing this actively in the past. Take a look at economy reports prepared by Sri Lanka and one can see similarities to Indian ones easily. One has seen Indian financial companies hosting similar companies from these member countries.

For most of the other member economies, getting and maintaining even simple things like economic data must be quite a task.  So such databases are interesting where one can gets updated data on small economies. All they have to do is send the data which will be maintained at India’s end.  Win win.

So, there is one place where a person can get basic economic data on SAARC economies. Hope it remains updated..

I just did take a look at few files. It is interesting to see how economics has been moving in South Asian region..

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How does Karachi produce its jugaadu batters?

June 3, 2016

Superb piece by Ahmer Naqvi in June 2016 Cricket Monthly.

Jugaadu basically means Cheeky, tough and masters of improvisation. The question is how does Karachi produce the batsmen it does?

This type of batsman isn’t unique to Pakistan, but the Pakistanis who fit it are most likely to be from Karachi. Think of Moin Khan and, to some extent, Rashid Latif. Before them, Asif Mujtaba, and well before them Mushtaq Mohammad and Asif Iqbal, and between them the man who fleshed out the prototype himself, Javed Miandad.

What they had in common was a non-traditional, lateral approach to finding solutions. They looked to generate new ideas. The question was whether this capacity was in some way linked to the city they all hailed from – was there something about growing up in Karachi that conditioned their response? Perhaps this was romanticism – trying to find a reflection of the city I was born in within the game that I loved. But it seemed relevant that when one thought of, for example, the reverse sweep, the advent of proactive running, or counterintuitive strategies, there was always a someone from Karachi involved.

The key to all this is thinking about survival all the time whether in real life or on the pitch. Appeals especially to those fans who have seen their teams (mostly India of course) being outplayed by jugadus..

Great read..

“Nothing can be more absurd than this whole doctrine of the balance of trade”….

June 3, 2016

David Glasner questions this belief that trade deficits are necessarily bad:

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Why is there no labor party in the United States?

June 3, 2016

Oleg Komlik has a food for thought post on economicsociology.org. These are some questions worth asking. How certain countries end up having certain political parties and not others.

He actually posts about this paper which looks at this question about US not having a labor party. One can draw parallels with Canada where there is a labor party. Interestingly, this too seems to be due to Great Depression:

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A parable about incentives backfiring…

June 3, 2016

Pick up a basic economics textbook and it most likely will start with incentives. All that seems to matter in economics is incentives. If you get the incentiving right, people are likely to respond in the desired way. Any behavior away from the norm defined by economists is blamed on incentives.

However, life is hardly that simple. People react differently even if incentives are supposedly right. This is where behavioral economics also comes in. This post by Samuel Bowles (HT: INET Blog) also points to a story with people responding negatively to certain actions:

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