Monday, May 15, 2017

17 May 2017: Talk on 'The Future We Need: Natural Resources as a Shared Inheritance'

Rahul Basu
Goa Foundation, Goenchi Mati Movement (GMM), and The Future We Need (TFWN)

Abstract:
Natural resources include our environment, minerals, and land. From an economic standpoint, land and minerals are the most valuable. Wealth attracts thieves, adventurers, rent seekers and crony capitalists. It is not surprising that mining encourages corruption, as private parties attempt to capture most of the value through "legal" but fundamentally illegitimate contracts. This in turn drives environment and human rights violations, which give rise to conflict. Iron ore mining in Goa has become a contentious issue between government and civil society. In his talk, Rahul will speak about the work of the Goa Foundation, an environmental NGO, in raising awareness about mining as Goa’s largest environmental issue for over twenty five years. He will describe the Supreme Court's decision in the Goa Mining case, where the Court was concerned with the rapid depletion of iron ore, and wanted a practical method of implementing the principle of "intergenerational equity", earlier ruled by the Court to be a part of the "Right to Life". Goa Foundation uses the "public trust" doctrine and the "intergenerational equity" principle to propose an ethical, fair and just resolution to the issue in the form of the "fair mining" proposal. This proposal has support from the Constitution, our traditions and customs, economics and global best practices. Rahul will explain how the "fair mining" proposal reduces poverty, slows growing inequality, reduces corruption and crony capitalism, improves governance and even creates a palatable 'Universal Basic Income'. As a result of a recommendation from the Goa Foundation, the Supreme Court has ordered the creation of the Goa Iron Ore Permanent Fund. This is intended to be a savings fund akin to the oil funds of Norway and Alaska. The Supreme Court has also ruled the last five years of iron ore mining in Goa to be illegal. While giving rise to enormous claims on the miners (as illegal mining is equivalent to theft of public property), it also gave the Goa government a clean slate. It had full freedom to redesign its mining sector. The Goenchi Mati Movement issued a manifesto for the Goa State Assembly elections showing how these principles could be put into practice. The manifesto was supported by the mining affected, mining dependent, and even a miner. It has also been supported by four political parties including AAP, as well as the Archbishop of Goa, the Shadow Chancellor of the UK, and a broad spectrum of civil society.

Date: May 17, 2017
Time: 03:00 P.M.

Venue:
Conference Hall
Centre for Policy Research,
Dharma Marg, Chanakyapuri,
New Delhi–110021(INDIA)

Location:

View Larger Map

Friday, May 12, 2017

16 May 2017: The rule of law, global prosperity and strategic calculation: the stakes for the Indo-Pacific region and the world of China’s rise

Brian Lee Crowley
Macdonald-Laurier Institute, Ottawa, Canada

Chair:
Abhijit Singh, Head, Maritime Policy Initiative, ORF 

Date: May 16, 2016
Time: 03:00 P.M.

Venue:
ORF Conference Room
Observer Research Foundation
20 Rouse Avenue Institutional Area
New Delhi-110002(INDIA)

Location:


Note:
Please RSVP to orfevents@orfonline.org

Thursday, May 4, 2017

15 May 2017: Word from the Frontlines of Demonetization: Perspective’s & Lessons Learnt from India’s Largest Cash Management Company

Rajiv Kaul
CMS Info Systems Ltd.

Abstract:
Nov 8th, 2016 will go down in the Indian Economy as a red letter day, when literally overnight the Rs. 500 and Rs.1000 banknotes were demonetised. The first two weeks, and then the prolonged aftermath affected us at an individual, industry, sectoral and economic level. As India’s largest ATM cash management company, handling more than 50% of all ATM cash replenishment, and the largest retail cash collection service, with a presence across 95% of all the districts in India, CMS was at the frontline of managing this exercise in evacuation, recalibration and replenishment of ATMs. This presentation delves into the company's singular experience in handling and surviving Demonetisation, leadership lessons in coping with an increasingly chaotic ecosystem, while giving some insights into the cash cycle of our country, how the multiple entities that affect it moved in cohesion or otherwise.

Date: May 15, 2017
Time: 04:30 P.M.

Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

Location:

View Larger Map

Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in

5 May 2017: The Business of Religion and Caste in India

Manaswini Bhalla
IIM Bangalore

Abstract:
We show that boards of directors of large Indian firms are characterized by high levels of cultural proximity, with members on a board belonging overwhelmingly to the same religion or caste. Using a unique database of self-reported religions and caste from matrimonial websites, we develop a novel methodology to proba- bilistically map individuals last names to religions and castes. We also develop a new homophily index to measure cultural proximity of board members. Results show few signs of increase in cultural diversity on boards during 1999-2012. Modest heterogeneity exists across firms, sectors, and states, however. Better performing firms have more diverse boards. Board diversity also increased in sectors and states that witnessed the largest increases in output. Rigorous instrument variable analysis demonstrates that lack of diversity on boards is causally associated with lower firm performance.

Date: May 5, 2017
Time: 11:30 A.M.

Venue:
Class Room No. 14
Indian Statistical Institute Delhi Centre,
7, S. J. S. Sansanwal Marg,
New Delhi-110016 (INDIA)

Location:

View Larger Map

Tuesday, April 25, 2017

18 May 2017: Minerals as a shared inheritance: Implications for public finance

Rahul Basu
Goa Foundation, Goenchi Mati Movement (GMM), and The Future We Need (TFWN)

Abstract:
Mining drives corruption, mis-governance, crony capitalism, environment & human rights damage and conflict. Iron ore mining in Goa has become contentious between civil society and the government. The Goenchi Mati Movement uses the Public Trust Doctrine and the Intergenerational Equity Principle to propose a ethical, fair & just resolution to the issue. The ramifications of the proposal are far reaching, including many aspects of public finance, capital markets and national income statistics.

Date: May 18, 2017
Time: 04:30 P.M.

Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

Location:

View Larger Map

Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in

28 April 2017: Corruption in the Supreme Court of India

Madhav S Aney
Singapore Management University

Abstract:
We investigate whether judicial decisions are affected by career concerns of judges by analysing two questions: Do judges respond to pandering incentives by ruling in favour of the government in the hope of receiving jobs after retiring from the Court? Does the government actually reward judges who ruled in its favour with prestigious jobs? To answer these questions we construct a dataset of all Supreme Court of India cases involving the government from 1999 till 2014, with an indicator for whether the decision was in its favour or not. We find that pandering incentives have a causal effect on judicial decision-making. The exposure of a judge to pandering incentives in a case is jointly determined by 1) whether the case is salient (exogenously determined by a system of random allocation of cases) and 2) whether the judge retires with enough time left in a governments term to be rewarded with a prestigious job (date of retirement is exogenously determined by law to be their 65th birthday). We find that pandering occurs through through the more active channel of writing favourable judgements rather than passively being on a bench that decides a case in favour of the government. Furthermore, we find that deciding in favour of the government is positively associated with both the likelihood and the speed with which judges are appointed to prestigious post-Supreme Court jobs. These findings suggest the presence of corruption in the form government influence over judicial decision-making that seriously undermines judicial independence.

Date: April 28, 2017
Time: 11:30 A.M.

Venue:
Class Room No. 14
Indian Statistical Institute Delhi Centre,
7, S. J. S. Sansanwal Marg,
New Delhi-110016 (INDIA)

Location:

View Larger Map

Monday, April 10, 2017

10 April 2017: Is Dollar Hegemony Inevitable? Possibilities for Reform in the Global Reserve System

Anush Kapadia
Indian Institute of Technology, Bombay.

Abstract:
The global reserve system is dominated by a single currency, the US dollar, in which the vast bulk of global trade and finance is conducted. This currency hegemony gives the world's only superpower the exorbitant privilege of having its own liabilities function as the global currency. Several scholars argue that the scale of this privilege help seed the financial crisis of 2007. Emerging markets poured their savings into dollar-denominated debt, creating a flood of cheap credit that lead to wild speculation and subsequent collapse. Since the crisis, several reform measures for this destabilising global reserve system have been suggested, with speculation on everything from a return to the gold standard, an elevation of the IMF's Special Drawing Right (SDR), and the rise of the Chinese Renminbi being discussed. This lecture offers a systemic account of how the global reserve system works in order to evaluate these claims. It argues that that global currencies will continue to be nationally based, hence reforms will have to focus on international institutions capable of disciplining the (existing and/or rising) hegemon rather than creating new synthetic currencies like the SDR.

Date: April 10, 2017
Time: 04:30 P.M.

Venue:
Conference Hall
Centre for Policy Research,
Dharma Marg, Chanakyapuri,
New Delhi–110021(INDIA)

Location:

View Larger Map