Amlan Mitra, Gideon Falk and Casimir C. Barczyk
This paper is a part of some on‐going research to evaluate environmental compliance by chemical facilities with Title III requirements. The purpose of this paper is to report on a…
Abstract
This paper is a part of some on‐going research to evaluate environmental compliance by chemical facilities with Title III requirements. The purpose of this paper is to report on a case study in Lake County, Indiana. We evaluate environmental compliance of chemical facilities through the perceptions and opinions of the members of the Lake County Local Emergency Planning Committee. We find that major problems perceived by the local emergency planners are the lack of knowledge of reporting requirements by the small chemical facilities and the difficulty of monitoring these facilities. Recognizing the limitations of this study, we hope that it will help to understand how local communities can effectively encourage facilities to comply with Title III without direct government involvement.
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Amitava Chatterjee and Amlan Mitra
This study analyzes the effect of the North American Free Trade Agreement (NAFTA) process on two major segments of the world economy. Specifically, daily stock index returns in…
Abstract
This study analyzes the effect of the North American Free Trade Agreement (NAFTA) process on two major segments of the world economy. Specifically, daily stock index returns in the North American markets and the selected Association of South East Asian Nations (ASEAN) markets during the entire agreement process are employed to analyze several NAFTA related events and their effect on respective financial markets. Using an event‐study framework, dummy variable regression analysis reveals that the significance of the events on each county appears random in nature. Joint testing of events, however, shows that except for Singapore, the overall effect of NAFTA is significant on the stock index returns of all countries.
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The role of financial institutions and financial intermediaries in fostering the economic growth by improving the efficiency of capital accumulation, encouraging savings and…
Abstract
Purpose
The role of financial institutions and financial intermediaries in fostering the economic growth by improving the efficiency of capital accumulation, encouraging savings and ultimately improving the productivity of the economy has been well accepted by now. Recent studies show that the insurance industry can improve the economic growth through financial intermediation, risk aversion and generating employment. This study aims to find the relationship between life insurance industry and economic development in India.
Design/methodology/approach
The study uses the VAR‐VECM model to find out the long run and short run relationship (if any) between life insurance growth and economic growth along with Granger causality test to suggest any causal relationship.
Findings
This study finds that there is long term relationship between life insurance industry and economic development in India. And the Granger causality test suggests that life insurance sector improves the overall economic development in India and the reverse is not significant.
Research limitations/implications
The only limitation to study the relationship between life insurance sector development and economic development is the data set which has been used is annual data as the quarterly data were not available for insurance industry.
Practical implications
The study documented the long run relationship between life insurance industry and economic development in India and finds that the life insurance sector improves the overall economic development in India. This would help us to understand the implications of the life insurance market development in the post reform era.
Originality/value
There is a dearth of literature on the Indian economy in relation to the insurance sector, specifically the life insurance sector. This is the first attempt to study the impact of life insurance development on Indian economy after the reforms initiated in the insurance sector.