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The article presents a discussion of Arthur I. Bloomfield's research paper on a survey of central banking in developing countries. The reviewer said that his research was lucid and comprehensive and the author is in general agreement with Bloomfield on the various issues he discusses. The author adds to Bloomfield's paper by describing the various steps taken by the monetary authorities in India in the late 1940s and throughout most of the 1950s. The steps were taken to strengthen the banking and credit system.

Presents information related to several abstracts on economics published in the February 1962 issue of the journal 'Oxford Economic Papers.' Examination of India's third five year plan; Marginal rate of saving in the Indian economy; Indian balance of payments policy and exchange auctions.

Since the outbreak of the European war, the flow of rupee coins back from circulation to reserves, which has been going on for many years, has been reversed. The stock of rupee coin in the Reserve Bank of India has decreased, while circulation has increased, between September 1939 and July 1940. This increase of coin circulation has been due partly to the proportional increase of note circulation and to some tendency to hoard coins in preference to notes. To avoid exhaustion of the Reserve Bank's supply of coin, the government of India began the issuance of 1-rupee notes. In December 1940, it announced a reduction in the fineness of the rupee from 11/12 to 0.300. It remains to be seen whether this section will be acceptable to the population.

This paper reviews the literature on authority patterns in Indian organizations in a comparative framework. These patterns are found to be dominated by the parental ideology of authority relations. On the basis of an empirical study, the paper suggests that this ideology, though legitimized by social-cultural factors, may be dysfunctional in having a negative effect on subordinate performance and satisfaction. The results of the empirical study suggest the hypothesis that the effect of social-cultural factors on organizational behavior is better understood through the concept of psychosocial identity, in which the effect of occupational identity is an extremely important factor, rather than through the concept of national character with its implications of cultural relativism in work behavior. [ABSTRACT FROM AUTHOR]

This paper provides an operational framework to understand autonomy by examining the relationship between the enterprise and its supporting environment. This relationship between the public enterprise and the enabling system is seen as one of power-dependency, by adopting the interorganizational analysis approach. [ABSTRACT FROM AUTHOR]

This article focuses on the trend of the birth rate in India between the period 1911 to 1950. The Government of India, in connection with the Census of 1951, has published a report entitled Estimation of Birth and Death Rates in India during 1941-50. In this report the actuaries associated with the census of 1951 have analysed a mass of material and have tried to arrive at firm estimates of the birth and death rates for different regions of India during 1941-50. Economist Kingsley Davis has also tried to compute birth estimates for the major provinces of India during 1926-30. These two publications thus enable you to examine two independently estimated rates of omission in the two decades, i.e. 1926-30 and 1941-50. In the present paper it will be shown that the formula devised for West Bengal is valid for a much larger area, comprising the provinces of Assam, Bengal, Bihar, Orissa, Uttar Pradesh, and Madhya Pradesh. The rates of omission estimated by the author's formula for 1921-30 will be compared with the corresponding rates of omission for 1926-30 as estimated by Kingsley Davis, and it will be shown that in all the cases the two agree quite closely.

This book, the second in the series, presents selections from papers read at the second Indian Conference on Research in National Income. It is a welcome addition to the 'meager but growing literature intended to deepen our understanding of historical and current Indian economic conditions. A reader, however, cannot help but realize the vital gaps in available basic economic data on India. In his presidential address, "Some Suggestions for the Improvement of National Income Data in India," V. K. R. V. Rao appropriately draws attention to these gaps and urges the government to direct its efforts to the collection of pertinent economic statistics through "well-designed and deliberately undertaken benchmark surveys," followed by annual sample surveys. Since Rao himself has joined the planning commission, it is to be hoped that these suggestions will soon be implemented. [ABSTRACT FROM AUTHOR]

Between the end of the Canton Crisis of 181-15, and the Bank of England Crisis of 1825, the financial usages of European houses in China had become better defined. Increased reliance and valuations upon negotiable paper instruments of finance were apparent. Quite apart from the extensive use of the East India Co.'s remittance paper as negotiable in India and China, the provision of private credit facilities for private trade in India and China were now explicit. Records of short-term lending on the spot and deposit accounts were now in evidence. The individual consigner of Indian cottons and opium who surveyed on a large scale for the China market could now also obtain direct credit backing from China agencies, albeit at the exorbitant rate of ten to 12 per cent. Indian agents of the China houses were also encouraging and financing groups of small investors under joint consignment accounts. In turn, the China houses now had sizeable credit accounts with their London, England, agents, which they covered by the periodic hypothecation of China goods to the United States. For a good many years the London money crisis of 1825-6 was slowly but clearly building up. In the build-up of the crisis conditions, the Bank of England was not above blame. Some China houses had not yet reached this level of rationale in their financial affairs, but the new mood of independence was symptomatic of the important changes through which the system was undergoing.

The present paper summarizes papers given at the 8th International Family Research Seminar in Oslo, Norway, 1963, which describe and explain differential frequencies of those decisions to marry which result in teenage marriage. Sociological analysis of marriage usually points out that age at marriage varies with the type of society and, therefore, reflects the stage of industrialization and urbanization. The lowest ages at marriage are generally found in peasant agricultural countries, such as India and China. During the rapid growth phase of urban industrial nations, age at marriage apparently rises, but later the age at marriage once again turns downward, though not rapidly. One way of viewing trends of teenage marriage is in terms of the percentage of males and females under 20 years of age involved in marriages contracted. During 1961, in 6% of all marriages contracted in Yugoslavia one or both spouses were under the age of 18. However, in such marriages the wife was under 18 years of age in 91 % of the cases, the husband in only 9 %. From 1953-1961 there was a gradual decrease in the percentage married under 18 years from 6.6 % to 6.0 %.

This article reports on the preparation being made by the Industrial Relations Center of the University of Hawaii in Honolulu for publishing a study of industrial relations in India by Doctor A. V. R. Rao, director of the Bureau of Labour, Industrial Relations and Social Studies in Bombay. Doctor Harold S. Roberts, director of the Center, has been special consultant to the city and county of Honolulu in the evaluation of the city's Personnel Management Program. The study seeks to reappraise the ability of the city's overall personnel management program to meet manpower requirements and other changes expected during the next decade. Papers from a one-day conference on "Challenges to Collective Bargaining," held in August 1967 by the Labor Management Education Program (LMEP) will be published in early 1968. A monograph on the modern Hawaiian community is presently in progress. It consists of papers presented by community leaders before the seminar on the Hawaiian community offered in 1967 by the LMEP for labor union officials. Professor Robert Repas has joined the staff of the LMEP as associate specialist.

This paper describes an exploratory field study carried out to ascertain the pattern of assimilation among East Indian immigrants in California. It was found that the Hindustani immigrants, because of their small numbers and their pattern of living in individual isolation, are prevented from forming their own ethnic communities. In this paper, the term Hindustani refers to immigrants from India and includes Hindu, Sikh, and Moslem immigrants. They constitute one of the smallest Oriental groups in the U.S.— 2,405 in 1940— and are the least known of all ethnic groups in this country. Of the total Hindustani population in the U.S. in 1940, 61.4 percent resided in California. Many have lived there for over thirty years. The majority of California Hindustanis are emigrants from rural villages in the Punjab, with a handful from Gujarat, Bengal, Oudh, and Madras. This study focused on four aspects of Hindustani life— residential pattern, occupational interactions, community life, family and home life.

This article presents abstracts of articles on economics published in the January-March 1965 issue of The Indian Economic Journal. In the paper An Activity Analysis Approach to Measure Productive Efficiency in Agriculture: A Case Study of Ahmednagar and Nasik Districts, by K. R. Bharadwaj and R. Bharadwaj, the authors have made an attempt to employ the activity analysis technique to measure productive efficiency of agriculture in India. This technique enables the authors to handle more efficiently multiple inputs without varying the usual index number problems. The approach requires only the more general convexity condition on the production set and the non-positivity of the slope of the isoquant. In the first two sections the methodological issues and the empirical procedure have been discussed. In the final section the results of an empirical enquiry using the farm management data pertaining to the Ahmednagar and Nasik districts have been presented. Furthermore, the article Central Banking in Developing Countries: Some Lessons of Australian Experience, by H. W. Arndt considers each of the major central banking functions such as foreign exchange policy, control of money supply, selective control of credit and development of capital market in order to show how they have come to be exercised by Australia's Central Bank, what problems have arisen and what lessons the Australian experience may hold for central banking in the developing countries. Moreover, the purpose of the paper Production Function for Indian Steel Industry, by A. K. Sarkar is to study the functional relationship of output in the Indian steel industry with that of different inputs. The modified Cobb-Douglas type regression equation has been fitted to the time-series data by the method of least squares in the multiple regression equation with a linear relationship.

The impact of induced abortion on fertility under Indian conditions is studied in this paper. The model is executed on a computer. First, matrices of birth probabilities specific to age and age at marriage are obtained, with the help of a simulation model, under various assumptions regarding the incidence of induced abortion. Later, making use of these matrices, period fertility measures such as age specific marital fertility rates and crude birth rates are obtained for India for the period 1961-75. One of the findings is that the effect of induced abortion in reducing the birth rate of India will be greater if it is used as a supplement to various family planning methods. [ABSTRACT FROM AUTHOR]

The article provides context to findings published by L.V.L.N. Sarma and K.S. Hanumana Rao (S&R) in a September, 1969 "Journal of Finance" article entitled "Leverage and the Value of the Firm." In that article S&R concluded that the Modigliani-Miller proposition concerning the impact of leverage on firm value did not hold for a sample of Indian firms they studied. The authors of the current paper discuss findings of a comparative study that included firms in both the U.S. and India. Their results support S&R's view concerning firms in India, but indicate that view cannot be generalized to U.S. firms.

The article presents a response to Cherukuri U. Rao and Robert H. Litzenberger (R&L) from L.V.L.N. Sarma and K.S. Hanumanta Rao (S&R), authors of a September, 1969 "Journal of Finance" article entitled "Leverage and the Value of the Firm." R&L had previously commented that, although conclusions reached in the article were correct, the methodology employed by S&R contained two potential sources of bias. The authors of the current paper defend their work by elaborating further on the procedures employed.

Freedom fighter Mahatma Gandhi's influence on Indian planning can best be understood by investigating the economic history of modern India and the role of Gandhian economics. Of course, one cannot speak of Gandhian economics unless one can show that there is a systematic approach to economics that can be called Gandhian; but this aspect has been widely discussed in an earlier paper. This article is a critical analysis of Gandhi's influence on Indian economic planning. Gandhi's influence on Indian planning was subtle rather than obvious. This emerges from the fact that officially he was neither a member of the National Planning Committee nor a believer in vigorous economic planning. He also did not wish to be associated with any political party. During the latter part of his life, Gandhi was not even an ordinary member of the Congress Party.

This paper tackles the assumption that as a country with a joint family system modernizes, the result will be the decline of the Joint family in terms of the property relations among fathers, sons and brothers. There are two important aspects of a Joint family in India: household composition and property held in common. Urbanization and education have not yet resulted in decreasing levels of Joint household participation in India. Legally, though, the Joint family is defined as those holding property in common. It was found that urbanization and education (a) have not increased the proportion of sons who separate their property from their fathers before his death, but (b) are associated with a significant increase in shared property among brothers. Neglecting the property aspect of Joint family life in survey literature may have falsely led to the conclusion that education and urbanization will preclude the cooperation of brothers and other relatives in using family property to its full economic potential. [ABSTRACT FROM AUTHOR]

Evaluates various papers focusing on social development in Asia. Land reforms and agrarian change in India; Examination of professional profiles and employment problems in selected countries; Analysis of the political sociology of the process of economic development; Agrarian framework for development.

Numerous studies have concluded that the restrictive industrial and trade control regimes adopted by many semi-industrial countries have been responsible for inefficient allocation of resources. These studies typically have been concerned with cases where the control regimes led to production of goods in which developing countries do not have a comparative advantage or raised the cost of production above the minimum attainable. This paper discusses a closely related but nonetheless distinct cost of one such control regime: the designs of many engineering goods produced in India during the 1960s were not the most efficient ones available for the products concerned. Producer goods were manufactured to designs which were technologically obsolete or economically inefficient. Similarly, consumer goods were produced to designs which were inefficient for the tastes and incomes prevailing in India. The first section of the paper examines design deficiencies of a number of Indian engineering goods. The second section discusses the role of government industrial and trade policies in explaining why goods with inefficient designs were produced. The concluding section considers the possibility that the industrial and trade control regime not only led to inefficient resource allocation but also reduced the rate of technological change. It also discusses the implications of the study for semi-industrial countries which are attempting to make a transition from import substitution to export in the case of new manufactured goods. [ABSTRACT FROM AUTHOR]

The process of economic development of any country depends on the ratio of industrial activity to agricultural activity. When measured in terms of per capita income, economic development depends on a growing agricultural surplus. According to Jorgenson, "Both classical and neoclassical theories of development of a dual economy provide an explanation of the increase in the share of savings." The increase in the share of savings depends on a significant increasing agricultural surplus but not on the presence or absence of disguised unemployment. In a recent article by Bardhan and Bardhan, the price elasticity of marketed surplus food grains was estimated. The significance of neither the ratio of industrial output to the agricultural output nor the growing agricultural surplus in determining the savings ratio (S/Y) was established empirically. This paper attempts to investigate such a relationship in the Indian economy. I use annual time-series data for the period 1953-65. The conclusions of this study corroborate Jorgenson's hypotheses. Due to the significant presence of agricultural surplus, the industrial sector is viable. This has implications for disguised unemployment in Indian agriculture. [ABSTRACT FROM AUTHOR]

This paper examines the ways in which legal norms enunciated by India's industrial tribunals are used by management and labor in their bilateral negotiations. Data from Indian courts and companies permit an empirical contrast between Durkheim's and Weber's analyses of the legal process. The evidence substantiates portions of both approaches: legal norms tend to be invoked as a function both of need for normative regulation and of the authority of the courts. A theoretical synthesis of the two positions is proposed. [ABSTRACT FROM AUTHOR]

In this paper abridged nuptiality tables for the single population of India have been constructed for the three consecutive decades 1901-1911, 1911-1921 and 1921-1931. No significant time trend has been observed in the nuptiality rates among the single Population of India. The rates are initially small, but increase rapidly until they reach a maximum at ages 25-30 for bachelors and 15-20 for spinsters, following which they gradually decline. During 1901-1931, unlike Western countries, India had not experienced any revolution in marriage habits encompassing traditional child marriages. The distinctive marks of the Indian age patterns of marriage are higher age-specific marriage rates combined with lower ages at marriage and lower proportions of people who never marry with relative stability of marriage habits during the early part of the twentieth century. [ABSTRACT FROM AUTHOR]

This paper may be regarded as a first short step into a scheme of systematic geography, since it deals with an island off a young coastal plain that is Shriharikota, Madras, India. The island is probably the simplest part of the simplest type of land form. Moreover, its inhabitants, simple jungle folk, are in the most elemental stage of evolution. The island has the monsoon type of climate. The East Coast of India presents to the Bay of Bengal a shoreline backed. except in a few places, with a monotonously low relief. If one braves the tulmultous shallow inshore waters of the bay from the city Calcutta to Cape Comorin his typical view is of a silver strand surmounted by jungle growth.

This paper re-examines the matter of rural-urban fertility differentials in India. It is a commonplace that urban fertility is lower than rural fertility in the West, and it is frequently assumed that this holds for non-Western populations as well. In the case of India, previous studies of rural-urban fertility ratios have appeared to bear out this expectation. However, fertility ratios based on the most recent available age distributions show no significant rural-urban fertility differentials. This conclusion is supported by several recent sample surveys of children ever born and is consistent with the generally accepted fact that contraception is negligible even in the cities of India. It is noted that the virtual disappearance of the Indian rural-urban fertility ratio differential over time has in all likelihood resulted from a narrowing of the rural-urban infant and child mortality differential.

The present paper deals with caloric values of important plants and insects occurring m the grassland vegetation at Kurukshetra, India. The data indicate variations in energy content among different species and at different seasons. [ABSTRACT FROM AUTHOR]

A district headquarters town In India is, virtually by definition, the seat of a whole complex of law courts. The personnel whose activities contribute to the patterning of social life in such towns includes as an essential feature a small brotherhood of local legal practitioners. This article describes one such brotherhood: the advocates who practice in a district headquarters town in Haryana, India. It is mainly concerned with isolating and describing the system of social relations, the inter-connected set of behavioral patterns, that occurs in the daily interactions among a hundred or more professionals in the district courts. For the litigants of an Indian district, the courts are an important occasional social arena. For even the busiest of chronic litigants, however, they are only an occasional arena. The professional and administrative personnel of the legal system are necessarily somewhat marginal figures in the litigant's world, of not as much concern to him as the allies and opposite parties of his numerous lawsuits. For a vast majority of district legal practitioners in India, on the other hand, the courts are the arena, the physical and social setting, for a lifetime's work.

The article presents an insight to the colleague relationships among Indian lawyers. For the litigants of an Indian district, the court is an important occasional social arena. In the lives of lawyers outside the courts, caste is significant. In general, however, caste does not have the role- summation significance for city professionals that it has in village life. For almost everything that goes on in the courtroom, there exists somewhere a set of written rules namely government manuals on court upkeep and organization, textbooks on advocacy, codes and case law. Colleague interactions here are highly legalistic in content. The constant struggles of lawyers to prevent conflicting hearings from getting on their appointment books suggest that there is scope for some division of labor even if not amounting to formal specialization in fields of law. Unlike, the linkages of an action set, the alliance does not have a variety of possible bases. All the ties that are used in alliances are those created by mutual involvement in the day to day working of the courts.

Much of the research on the Indian family is an attempt to establish the presence or absence of the joint family. The present paper deviates from the usual joint family controversy and focuses on the nature of the kinship and family ties among the 287 migrant lower-class and lower-caste gold miners in Kolar Gold Fields in Mysore State, India. The data suggest that the geographic mobility has caused the breakdown of the localistic patrilineal kinship system. However, the kinship ties are maintained despite the spatial distance. The nature of the kinship ties among the respondents is predominantly expressive and instrumental in character. In the city the modal family is the nuclear family. The respondents have adapted to the industrial setting despite the breakdown of their face-to-face extended kinship system. [ABSTRACT FROM AUTHOR]

Responds to the comments of K.L. Gupta on the author's article discussing the response of household savings in India to prices and price changes. Dependence of savings on personal disposable income, price level and price changes; Koyck-type distribution lag function.

The present paper has two goals. First, since rotating credit associations have not been described for India, except in the briefest of terms, we shall contribute in a small way to filling this void. Our data are limited. They derive from a month of field work in the city of Hyderabad (Andhra Pradesh), carried out in July 1962, and include two days in a village approximately twenty miles from the city. The focus of the field investigation was voluntary associations generally. Only a few interviews dealt with chit funds, as rotating credit associations are commonly called in India. The work in the village, limited as it had to be, was more than usually fruitful, because reports were available from earlier studies by other social scientists. The second aim of this paper is to consider the potentialities of such associations for socializing to modern business life. Before dealing with the latter problem, let us look at the three types of chit fund that we found. (The number is not necessarily exhaustive. [ABSTRACT FROM AUTHOR]

This paper develops a theoretical framework for the application of cost-benefit analysis to management education in developing countries. Social returns are estimated through a combination of the import substitution and income creation approaches, both of which are considered in the evaluation of investment. The cost-benefit analysis of a major national project in India within this framework shows that its educational program has a positive net present value even at a social discount rate as high as 13 percent. The net returns appear to be quite sensitive to the values assigned to the foreign exchange rate, discount rate, and price elasticity. The purpose of this paper is to report the results of the cost-benefit analysis of a specialized branch of education in India. The branch selected is management education, which, though relatively new to India, is likely to expand significantly, given the managerial and organizational problems facing the country. The first section of the paper presents a conceptual framework of the cost-benefit analysis appropriate to management education.[1] The second section reports the results of the cost-benefit analysis of a national institution for management education in India. The conclusions of the study and its relevance for educational planning are summarized in Section III of the paper. [ABSTRACT FROM AUTHOR]

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This section presents abstracts of articles on economics published in the October-December 1964 issue of The Indian Economic Journal. The article Aspects of Trade Policy in India, by D. T. Lakdawala surveys the various aspects of trade policy in India. The various aspects of import regulation are critically scrutinized in the context of development. The problems of increasing imports which brings forth for consideration the various aspects of import substitution are examined. Meanwhile, the article Migration of Agrarian Labour Force and the Theory of Disguised Equilibrium, by Yasusuke Murakami and Machiko Kubo argues that agriculture still occupies an important place in the Japanese economy and though non-capitalistic in a sense, it coexists with the capitalistic sectors. The equilibrium between agricultural labour and non-agricultural labours must be sought in the comparison of per capita agricultural income and per capita non-agricultural wages. Moreover, the paper The Representative Firm and the Theory of Value, by V. Dubby is an attempt to show that the concept of the representative firm is not only useful for exposition but a tool with analytical significance. The technique of using the representative firm to derive the long-period supply curve of the industry is here developed in two steps. First, it is assumed that the relation of the price to the average cost of the representative firm determines the variation in the size of the industry. Second, a relationship between the average cost of the representative firm and the output of the industry is established.