Indian Institute of Technology Hyderabad (IITH) is a premier institute of science and technology established in 2008. IITH has been consistently ranked in the&nbsp;<a href="https://iith.ac.in/reports/" rel="noopener noreferrer">top 10 institutes</a>&nbsp;in India for Engineering&nbsp;<a href="https://www.nirfindia.org/2021/EngineeringRanking.html" rel="noopener noreferrer" target="_blank">according to NIRF</a>&nbsp;making it one of the most coveted schools for science and technology in the country.

IITH offers&nbsp;<a href="https://iith.ac.in/academics/under-graduate/">undergraduate programs</a>&nbsp;in all the classical engineering disciplines, applied sciences, design, as well as several modern interdisciplinary areas. Students are given a flexibility to explore a broad set of areas, and potentially pursue a minor or double major in a discipline that is not their own. Students who wish to seek a deeper understanding of their own discipline are strongly encouraged to get involved in cutting-edge research with the help of a faculty to mentor them, and earn an Honors in their own field.

The very foundation of IIT Hyderabad is based on&nbsp;<a href="https://iith.ac.in/research/">research and innovation</a>. The vibrant research culture is evident from the number of patents and publications that IITH produces consistently every year. IITH offers&nbsp;<a href="https://iith.ac.in/academics/programmes-offered/">graduate programs</a>&nbsp;at both a masters, and a doctoral level, in several diverse areas. There are separate programs for technology, design, science, and liberal arts. The&nbsp;<a href="https://iith.ac.in/academics/post-graduate/">MTech program</a>&nbsp;is offered in various modes and durations to cater to the ever-growing need of postgraduate level professionals in the country.

IITH encourages and supports&nbsp;<a href="https://iic-iith.netlify.app/index.html" rel="noopener noreferrer" target="_blank">innovation and entrepreneurship</a>&nbsp;at every stage. The minor program in entrepreneurship is open to all students of IITH, and many of the courses are offered by industrialists who are entrepreneurs themselves. There are various&nbsp;<a href="https://iith.ac.in/research/centres-incubators/">innovation centers and incubators</a>&nbsp;that promote entrepreneurship and help mentor young innovators. IITH has been very successful in building tie-ups with leading academic institutions around the globe.

IITH enjoys a very special relationship with Japanese universities and industries that goes beyond academic and research collaborations. In fact, some of the iconic buildings in IITH campus will carry the signature of Japanese architecture.

IITH creates a unique holistic ecosystem for education that offers interactive learning, a very flexible academic structure, cutting-edge research, strong industry collaboration, and entrepreneurship. This is an environment which enables students and faculty to translate their dreams into realities.

IIT Hyderabad

We examine the convergence of information and communication technologies (ICT) among 47 developed and emerging countries using annual data from 2000 to 2012. We construct an ICT development index using a principal component analysis. The results, based on a dynamic panel data model, reveal a divergence in ICT development. This study identifies two factors that drive a country's digitalization divergence level: the growth of per capita income and the ratio of urban to rural population. In addition, ICT divergence is higher in emerging countries than in developed countries. © 2016 Elsevier B.V.

Department of Liberal Arts

Economic Modelling

Does the digital divide across countries lead to convergence? New international evidence

This paper examines the supply response of milk production in BRIC countries using annual data for the period 1992 to 2010. The results derived from panel data analysis support a strong positive supply response of milk prices to the number of milking animals and total milk yield. The study also finds a strong association between price of substitutes between chicken meat and milk. The non-price factors like membership in WTO and exports have a positive impact on supply response in terms of number of milking animals. The study unfolds that export of milk have a favorable impact on the supply response both in terms of number of milking animals and milk yield. The analysis suggests that milk supply in BRIC countries is responsive to the price factors and hence price support and subsidies programmes for dairy farmers in BRIC need to more visible and effective. Such results clearly make a case for introduction of Minimum Support Price (MSP) for milk famers in BRIC countries. Milk producers in BRIC countries can take advantage of the enhanced market access provided by WTO and simultaneously increase their herd size. © 2016, Asociacion Euro-Americana de Estudios del Desarrollo. All rights reserved.

World University root node

Applied Econometrics and International Development

Supply response of milk production: Analysis and implications for BRIC countries

In this paper, we investigated whether the government debt caused a burden for India over the period 1970-2013. We achieved this goal using Bohn’s (1998) hypothesis in a structural VAR framework. This study did not find evidence to support Bohn’s hypothesis in the context of India because no statistically significant relationship between public debt and gross primary deficit was found. Second, this study observed a positive response of interest payments due to the shock of public debt, which is not surprising. Third, a positive shock of public debt was statistically significant and negatively affected developmental expenditure. Similarly, interest payments negatively affected the gross primary deficit. We concluded that public debt in India was not a burden for the country. © 2016 The Economic Society of Australia.

Economic Papers

Is public debt a burden for India?

This paper investigates the stock market reaction to investor mood swings resulting from the Indian Premier League (IPL) cricket matches. We find that stocks listed on the Bombay Stock Exchange (BSE) that sponsor the IPL cricket are unaffected by the cricket matches. This finding is robust along two lines: (a) the effect is insignificant both statistically and economically which we demonstrate using a simple trading strategy; and (b) results hold across a wide range of portfolios. Our results, both statistical and trading strategy-based, suggest that the portfolios of companies that sponsor cricket in India are efficient. Our findings stand in sharp contrast to the evidence obtained by the broader sports literature suggesting that sports actually impact stock returns, driven principally by psychological factors. © 2016 Elsevier B.V.

Emerging Markets Review

What is the value of corporate sponsorship in sports?

While several studies have examined the linear causal relationship between oil prices and exchange rates, little is known about the nonlinear causality between these two variables. The present paper tries to fill this research gap in the context of India and China. By applying the Hiemstra and Jones (1994) nonlinear Granger causality test to the VAR residuals, the study finds a significant bi-directional nonlinear Granger causality between oil prices and exchange rates in both countries. The findings suggest that the nonlinearity of oil price influences the exchange rate irrespective of the exchange rate regimes. Further, to check robustness, the persistence in the variance of oil price and exchange rate is taken into account using a GARCH (1, 1) model. While the results consistently hold in the case of India, with respect to China, a unidirectional causality runs from exchange rate to oil price. However, the oil price in China does not Granger cause exchange rate. © 2015 Elsevier B.V.

Energy Economics

Nonlinear causality between crude oil price and exchange rate: A comparative study of China and India

The present article explores the factors that influence the profitability of Indian banking sector in the post-reform period using the data from 1995 to 2012. The results indicate that operating profits, wage bills, non-performing assets and net interest margin affect the profitability of Indian banks, while the priority sector lending does not have any impact on bank profitability in India. Further, the net interest margin is found to be significantly reducing profitability. Hence, it is suggested that banking sector in India should focus on reducing its operational expenses. © 2015, © 2015 IMI.

Global Business Review

Determinants of Bank Profitability in the Post-reform Period: Evidence from India

This paper examines the effect of public debt on economic growth in India between 1980 and 2011. Using the autoregressive distributed lag ARDL model, the paper traces a long-run equilibrium relationship between public debt and economic growth. The error correction model (ECM) results show that central government debt, total factor productivity (TFP) growth, and debt-services are affecting the economic growth in the short-run, and that the results are consistent with our a priori expectation. It is recommended that the government should follow the objective of inter-generational equity in fiscal management over the long term in order to stabilize debt-GDP ratio, particularly, after the global financial crisis. © 2014 Economic Society of Australia, Queensland.

Economic Analysis and Policy

Public debt and economic growth in India: A reassessment

In the new framework of competitive electricity markets, all power market participants need accurate price forecasting tools. Electricity price forecasts characterize significant information that can help captive power producer, independent power producer, power generation companies, power distribution companies or open access consumers in careful planning of their bidding strategies for maximizing their profits, benefits and utilities from long term, medium term and short term perspective. Short term spot electricity price forecasting techniques are either inspired from electrical engineering literature (i.e. load forecasting) or from economics literature (i.e. game theory models and the time-series econometric models). In this study we investigate the emergence of spot electricity markets with particular emphasis on Indian electricity market which has never been done before and review selected finance and econometrics inspired literature and models for forecasting electricity spot prices in deregulated wholesale spot electricity markets.

International Journal of Energy Economics and Policy

Forecasting electricity prices in deregulated wholesale spot electricity market: A review

This article examines the impact of human capital and openness on total factor productivity (TFP) for five South Asian countries—India, Pakistan, Sri Lanka, Bangladesh, and Nepal—during the period from 1980 to 2011. The empirical results derived from the panel cointegration techniques provide evidence of a long-run relationship among the variables. The dynamic ordinary least squares (DOLS) results show that the long-run elasticities of TFP with respect to human capital and openness are positive. The results, however, suggest that the impact of human capital on TFP is relatively weaker than the impact of openness on TFP for the South Asian countries. The study also examines the long-run and short-run Granger causality between these three variables in a panel framework. The results indicate that there is a long-run Granger causality running from trade openness and human capital to TFP. Similarly, in the short-run, there exists a bi-directional Granger causality between trade openness and total factor productivity and between total factor productivity and human capital. The study suggests that by improving trade policy reforms, such as, licensing policies, and removing trade barriers, the low-income countries in South Asia can increase their level of openness, which would boost the TFP in the short run. © 2014, © 2014 Emerging Markets Forum.

Global Journal of Emerging Market Economies

Did Openness and Human Capital Affect Total Factor Productivity? Evidence from the South Asian Region

In this paper, we test for Wagner's law for 15 Indian states. We consider nine panels of states based on geography and level of economic development. Using panel unit-root, panel-cointegration, and panel-Granger causality analysis, we unravel strong evidence of Wagner's law. However, we find that the Wagner's law relationship is consumption rather than capital expenditure driven. This is a fresh revelation and our results are robust to different model specifications. © 2012 Elsevier B.V.

Evidence of Wagner's law from Indian states

This article investigates the long-run relationship between labour productivity and employment, and between labour productivity and real wages in the case of the Indian manufacturing sector. The panel data set consists of 17 two-digit manufacturing industries for the period 1973-1974 to 1999-2001. We find that productivity-wages and productivity-employment are panel cointegrated for all industries. We find that both employment and real wages exert a positive effect on labour productivity. We argue that flexible labour market has a significant influence on manufacturing productivity, employment and real wages in the case of Indian manufacturing. © 2010 Springer-Verlag.

Empirical Economics

The productivity-wage and productivity-employment nexus: A panel data analysis of Indian manufacturing

This paper aims to explore the labour productivity convergence in manufacturing sector across fifteen major Indian states during 1979-80 to 2000-01, using cross-section analysis. The analysis examines the convergence hypothesis taking both absolute and conditional convergence into consideration. The results indicate that though absolute β convergence in labour productivity does not exist during overall period of analysis, labour productivity does converge in pre-reform period. Analyzing conditional convergence using dynamic panel model, we find that labour productivity in rich states grew faster with reasonably high initial productivity levels, indicating a divergence across the states. In light of the above-affirmed empirical results, the study suggests that better endeavors for productivity growth of manufacturing sector in backward states are quite essential. The government should give more emphasize to the labour intensive manufacturing industries which can absorb the mass un-skilled labour force in eastern and northern states of India.

Regional and Sectoral Economic Studies

Did productivity converge in manufacturing sector across Indian states?

This paper aims at identifying various determinants of labour productivity using a panel data analysis for 15 major states of India over the period 1979-80 to 2000-01. The evidence shows that labour productivity is largely determined by capital-intensity, firm size, skilled manpower, capacity utilization and real wage rate. The positive impact of capital intensity on labour productivity signifies the degree of mechanization. The wage rate has a positive effect on labour productivity, which acts as a powerful incentive for the labour to contribute greater efforts and skills. In turn, states with higher labour productivity range have strong financial strength to offer better wages and finally it leads to better standard of living of the workers. Capacity utilization of the industry has a significant positive effect on labour productivity, which implies that given input resources have been used at the optimum level.