Insights

Will the division of a large state to several smaller states enable better administration or development of regions in question? Perhaps, the solution lies in decentralization of administrative functions, rather than the division of a state. But decentralization in itself would not deliver the desired results. Equitable and balanced regional development could be achieved through the combination of DGPP - Decentralization, Good Governance, and Public Private Partnerships. A small administrative region could be a handicap if the same is not backed by good governance or is characterized with political instability. Good governance is crucial for removing the bottlenecks in development and ensuring planned development of villages, towns and cities in the respective regions. Again, decentralization should be complemented with Public Private Partnerships at the district level to achieve the desired development goals, address employment issues, improve surface transport facilities, deliver ...

The Prime Minister has urged for a Comprehensive Economic Cooperation Agreement (CECA) with the Association of South-East Asian Nations (ASEAN), the association, which is growing in significance with every passing year. The growing political and economic significance of the region was evident with the active participation of the United States (U.S). Greater diplomatic engagement and enhancing trade ties with ASEAN holds high significance for India, which has began to walk the talk on its Look East Policy. At the same time, the 10 countries of the region, would continue to enhance their cooperation with China, Japan and South Korea within the ASEAN Plus Three Framework. In recent times, U.S and European countries have been more proactive in their engagement with the South-East Asian countries. As such, in the emerging global scenario, India needs to continue to strengthen the South Asian Association of Regional Cooperation (SAARC).  For a change, the recent SAARC...

The global human population has crossed the 7 Billion mark today. Significantly, it has taken just over 2 centuries for the global community to grow 7 times of their size from around 1 billion at the beginning of the 19th century to over 7 billion in 2011, and we may well double ourselves over the next century. We at India are inching closer to the 18% of the total world population. While the human population has made remarkable strides, poverty, malnutrition, high infant death rates still plague considerable members of the population. Many countries are dealing with internal discord and external strife. Terrorism and war between nation states have considerable impact on the lives of the people for decades and generations to come. Wars have considerable impact on the economies of all countries involved. Several countries may not reach the desired United Nation's Millennium Development Goals by 2015. Ensuring proper healthcare facilities remains a challenge. The damage caused to t...

Thomas J. Sargent and Christopher A. Sims share this year's Sveriges Riksbank Prize in Economic Sciences. Unlike other Nobel Prizes, the Prize for contributions in the field of economic sciences was established by Sveriges Riksbank, the Central Bank of Sweden in memory of Alfred Nobel. The duo are known for incorporating people's expectations in  empirical research. If we see in hindsight, and recent developments, people's expectations matter a lot, and play a crucial part in policy making of the Central Banks. The award would certainly encourage further interest in empirical research worldwide. Watch and hear the Nobel Laureates speak on the Princeton University Website.