Abstract
We are pleased to present the fifth issue of the Indian Economic Journal, comprising six insightful research articles that address significant economic and social challenges in India and South Asia. The contributions in this issue reflect the growing importance of empirical research in understanding poverty, financial inclusion, technological innovation, inflation, labour vulnerability and public health. Collectively, these studies offer valuable policy insights and deepen our understanding of inclusive and sustainable development.
The issue begins with the article Poverty and Inequality in Jammu and Kashmir: A Sensitivity Analysis by Saeed Owais Mushtaq, Javaid Iqbal Khan and Mehak Majeed. The study examines the sensitivity of poverty and inequality estimates to equivalence scales and economies of scale in Jammu and Kashmir. The authors demonstrate that standard measures often overstate poverty and inequality when household composition and scale economies are ignored. An important contribution of the study is its finding of welfare rank reversal across household size and gender categories. The article not only advances methodological debates in welfare economics but also highlights the unique socio-economic realities of a politically fragile yet comparatively better-performing region.
The second article, Examining the Determinants of Financial Inclusion in South Asian Countries by Khushboo and Kailash Chandra Pradhan, focuses on one of the central dimensions of economic development. Using the World Bank Global Findex database and probit regression analysis, the study identifies key socio-economic determinants influencing financial inclusion in South Asia. Variables such as age, education, income, workforce participation and gender are found to play significant roles in access to formal financial services. The article draws attention to the persistent exclusion of women from formal banking systems and emphasises the need for policies promoting education, employment and income generation to strengthen financial inclusion across the region.
The third contribution, The Interplay of Foreign Direct Investment in Unravelling the Nexus of Technological Innovation and Economic Dynamics: An Integrated Study Using Vector Error Correction Model by Meenu Maheshwari and Rupali Loke, explores the relationship between foreign direct investment (FDI), technological innovation, GDP, research and development (R&D) expenditure, and inflation in India. Employing advanced econometric techniques such as vector error correction models and cointegration analysis, the authors reveal that GDP growth and research expenditure have a significant positive impact on innovation, while FDI alone does not directly stimulate technological progress. The findings underline the importance of supportive policy frameworks, R&D incentives and innovation-friendly institutions in achieving sustainable economic growth.
The fourth article, Do Global Food Commodity Prices Determine Inflation in India? by Pradyumna Dash and Steven Lugauer, examines the impact of international food prices and exchange rates on domestic inflation in India. Using the Johansen cointegration framework and an error correction model, the study establishes a strong relationship between global commodity prices and inflationary pressures in the Indian economy. The authors demonstrate that rising international food prices significantly contributed to inflation during the global food crisis of 2007–2008. The article provides important insights for policymakers concerned with inflation management, food security and macroeconomic stability in an increasingly interconnected global economy.
The fifth article, Impact of COVID-19 on the Livelihoods, Health, Well-being and Pay Disparity Among Women Workers in Unorganized Sector in India by Gotmare and co-authors, highlights the severe socio-economic consequences of the pandemic on women workers engaged in agriculture, fisheries and handloom sectors in Tamil Nadu and Kerala. Based on a field survey of 769 women workers, the study reveals widespread wage discrimination, unpaid overtime, poor workplace safety, financial distress and deteriorating health conditions during the pandemic. The findings underline the vulnerability of women in the unorganised sector and call for urgent policy interventions, stronger labour protections and gender-sensitive welfare measures to reduce inequality and social marginalisation.
The final article, Infant Mortality Among the Tea Garden Workers in Upper Assam: Insights from a Field Survey by Kanchan Devi, Vandana Upadhyay and Arnob Paul, investigates the determinants of infant mortality among tea garden workers in Assam. Using primary survey data and binary logistic regression analysis, the study identifies age at marriage, number of births and source of drinking water as the major determinants of infant mortality. The article sheds light on the persistent socio-economic deprivation and public health challenges faced by tea garden communities and emphasises the need for targeted healthcare, awareness programmes and improved living conditions.
Together, the articles featured in this issue highlight the complex and multidimensional character of development challenges in emerging economies. Collectively, they emphasise that sustainable and inclusive development extends beyond economic growth to encompass social equity, institutional effectiveness, public welfare, environmental sustainability and equal opportunities for all sections of society. We express our sincere gratitude to the authors, reviewers and members of the editorial team for their dedicated efforts and scholarly contributions in upholding the academic standards and research quality of IEJ. We hope that the studies presented in this issue will encourage meaningful academic discourse, inspire future research and contribute to informed policy deliberations on pressing socio-economic issues.