Dr.DEBESH BHOWMIK

Dr.DEBESH BHOWMIK

Friday 25 November 2016


18th Annual Conference of Economic Association of Bihar



Dr.Debesh Bhowmik has presented the following  paper on 23rd November,2016 during the conference of Economic Association of Bihar.
The following  paper is published in the Bihar Economic Journal,Vol-5,No-2,Nov,2016,9-22
INFRASTRUCTURE, ECONOMIC GROWTH AND THE ECONOMY OF BIHAR
Dr.Debesh Bhowmik
(Retired Principal and Associate Editor,Arthabeekshan-Journal of BEA)
Abstract
The paper studied the nexus between infrastructure and growth in Bihar during 1990-91-2014-15.Firstly,causality and cointegration were shown among investment in power sector and SDP,per capita SDP,net capital formation and growth rate. Secondly, causality,cointegration, VAR,and VECM among social sector investment and SDP,per capita SDP,net capital formation and growth have been calculated during the same period. In both the cases, estimation of double log linear model has been used to get the relationships.The structural break model verified that both the trends of the investment in power sector and social sector have been rising during 1990-91-2014-15 but investment in power sector has one downward structural break in 1994 and one upward structural break in 1998,on the other hand,investment in social sector has three upward structural breaks in 1999,2007,and 2011 respectively. Hodrick-Prescott Filter model removed smoothly the cyclical movements from both the series.

The study explores that infrastructure investment in Bihar in power sector has insignificant positive effects on SDP per capita, net capital formation and growth rate during 1990-91-2014-15 where impact on SDP is positive and significant.On the contrary, infrastructure investment on social sector has positive significant impact on SDP,SDP per capita and net capital formation of Bihar but has insignificant positive impact on growth during the same period. But there is bi-directional causality and cointegration among the variables in both the sectors.VEC model in the social sectors is stable, divergent and insignificant error correction processes. Economic impact of social sector infrastructure investment is higher than that of power sector in Bihar. The paper throws light on some important policies to develop the infrastructure in Bihar and provides some scope of future research irrespective of some limitations. 


Key words – infrastructure, power sector, social sector, causality, cointegration, VAR,

JEL-C32,I1,I2,O4,Q4

Monday 14 November 2016

Rupee US dollar nominal exchange rate of India:Behaviour,cointegration and vector autiregression


43rd international conference of International Multidisciplinary Research Foundation was held at Lar de sta Terezinha,Margao,Goa during 3-5  November,2016.I have presented my paper on "Rupee US dollar nominal exchange rate of India:Behaviour,cointegration and vector autoregression".The paper was published in the journal titled Business Sciences International Research Journal (page1-19).
The paper studied the nominal exchsnge rate behaviour of rupee us dollar during 1970-2015,with the help of semilog or exponential model,variance ratio test,Baiperron test,H.P.Filter model,AR,ARIMA and GARCH models respectively.Johansen cointegration test and VECM were used to relate exchange rate with its determinants showing the process of error correction .The paper concludes that nominal rupee exchange rate has been depreciating with respect to usdollar at the rate of 5.57% per year or exponentially at the rate of 0 365% per year during 1970-2015.The nominal exchange rate does not follow random walk and random walk with drift.It has three structural breaks at 1984,1991,1998 respectively.It showed non linear trend after minimising cyclical behaviour.Its AR(2),process is stable and convergent and ARIMA(1,1,1) showed stationary and stable but its ARIMA(2,1,2) is nonstationary.The exchange rate series contain high volatility as shown by GARCH(1,1) model.Nominal exchange rate is positively significantly related with current account deficit,fiscal deficit,external debt and whole sale price index and negatively significantly related with interest rate and trade openness respectively.Johansen cointegration test assured that trace statistic has 6 cointegrating vectors and MaxEigen statistic has 3 cointegrating vectors.Thus VECM is stable but divergent with speedy significant error correction of change in current account and fiscal deficit and change in interest rate respectively.
Target rate of inflation,reducing fiscal deficit,debt and slow full convertibility may improve the exchange rate scenario.




Tuesday 8 November 2016

43rd Conference of IMRF- A session on Literature and Language


Chairman’s report on the  Session on “Literature and Language” of the 43rd Conference of International Multidisciplinary Research Foundation
----Dr.Debesh Bhowmik

International Multidisciplinary Research Foundation organized 43rd  conference at the auditorium of Lar De Sta Sterezinha of Carmelite Monastery,Margao,Goa during 3-5 November,2016.
I have the previlege to chair a session on “Literature and Language” where there were five paper presenters . [1]Jaleel Abd Jaleel --Assistant Professor,Alquadissyah Directorate of Education,Iraq presented a paper on "The role of sociolinguistics in shaping the Indian Individual and society". His paper signifies use of language in different approaches in bilingualism and multilingualism in different culture, society, ethnical and religious aspects in determining the languages.[2]Md.Muntashir Raquib –Graduate Teaching Assistant,Department of English,East West University,Bangladesh,has presented a paper titled “ Robertson’s Ruby:Is it only a Popular Fiction?” where he established to find how Ray weaves a narrative of anticolonial resistance into popular detective story from the Sepoy Mutiny in 1857 and Indigo revolution to spot the light the attitude of the colonizers towards the natives. [3]Nasifa Moquit—Lecturer,MAHSA University,Bangladesh—presented a paper on “Code-Switching and Code-Mixing between Bangla and English:Undergraduate Private University Students in an Informal Setting” where she examined the reasons behind different types of code switching and code mixing among students whose attitudes were positive impacts although negative impacts were reasonable which was found by a random sample survey.[4]Taslima Islam—Graduate Teaching Assistant , Department of English,East West University,Bangladesh—has presented a paper entitled “Violence:The Veiled ‘Dark Matter’ in Chronicles of a Death Foretold” where she talked about three types of violence-subjective violence,objective violence and systematic violence.Her paper stated that Gabriel Garcia Marquez’s novella Chronicles of a Death Foretold(1981) explores the hidden root of ‘la Violencia’ in the long civil war initiated in Columbia in 1946.The trauma of this chaos triggered the violence to take place in “personal,individual,and quasi political scale”.Since Latin America has such a brutal and traumatic history of violence,Marquez exposed how the violence imperialism and political division.This research also highlights the silence as form of violence dwelling in the society while Vicario brothers were committing the violence act.[5]Ahmed Jibal Manar of Dhaka ,Bangladesh ,presented a paper on “Sometimes the wrong train can take you to the right destination:Discrimination of society and community of others in the Lunchbox”. He showed on the aspects related with the otherness theory portrayed through some major characters in Ritesh Batra’s film The Lunchbox(2013).The characters deconstruct the established norms to create their own individual identity in the mainstream timeline.The paper concentrates on major characters.The power relation intertwind in the conventional social norms how their lives are interrelated and how they form a new identity through their  shared otherness and how this separate community of others operates  within the mainstream society and finds a space of their own.
Dr.Debesh Bhowmik—Chairman of this  session concluded and suggested about their papers in the following .

[1]Dr.Bhowmik felt that Jaleel’s  research might help linguistic system at home,in nation and in abroad although there are variations.During the era of globalisation ,multilinguistic problem is natural phenomenon where its nature,problem and solution should be known to all even in the members of home.Prof.Jaleel's effort is great importance in this context.Because,linguistic system can lead to close every people in which country they belong.

[2]Md.Raquib’s attempt is praiseworthy since it tries to explore new arena of research from the view point of Ray’s film but it fall short of adequate explanation in the relationship of film’s background story of Sepoy mutiny and indigo revolution toward fiction in the colonial period in India.However,he is credited to new vision.

[3] Nasifa Moquit’s paper is a good research one which claims future scope in various dimensions code switching and code mixing in language.It has great impact in the development of literature.Her survey results in this respect is also praiseworthy.  

[4] Taslima Islam showed how a novel can interpret different types of violence in the society mentioning causes of violence,sensitivity of violence and tried to comment on government policy.She should give more details about governance and the relation between role of governance and power imbalance so that society’s role in context of violence is minimized.

[5] Ahmed Jibal Manar’s paper is a new concept where he mentioned identity crisis above the mainstream society’s characters in the movie.Their new identity is demanded a new space.The author should mention problem areas and its remedies as well.


Dr.Debesh Bhowmik is felicitated with a beautiful memento given by the Chairman of IMRF-Dr.Ratnakar D.Bala along with  a nice certificate.