Women's Journey Towards Empowerment : Issues and Challenges edited by Prof. Prabhat Kumar Singh (Ranchi University) and Prof. Amit Bhowmik (Nur Mohammad Smriti Mahavidyalaya, Murshidabad)----2019

DELTON PUBLISHING HOUSE,NEWDELHI,HB,297+XXVII,Rs 1295.

It consists of 25 articles which cover wide range of women empowerment in the areas of agriculture, entrepreneurship, social sector, business, finance, in India and abroad .All articles are written by scholars of India and abroad. The foreword of this edited book is written by Prof. Elias Olukorede Wahab of Lagos State University, Nigeria.

                                                                    Article No-14

Women Empowerment with special emphasis on the relation among gender development index, human development index and gross domestic product per capita   pp 145-162

Dr.Debesh Bhowmik(Retired Principal,Life member IEA,TIES)

Abstract

In this paper, author wishes to find the relationship among the gender development index,human development index and the gross domestic product per capita of the 12 developed countries during 1990-2015 with the help of econometric models such as fixed effect panel regression, Fisher-Johansen panel co-integration , panel vector error correction model and Wald test .

The paper concludes that one per cent increase GDI per year led to 0.1143% increase in GDP per capita and 0.0191% increase in HDI per year significantly during 1990-2015 which were found by fixed effect panel regression. Fisher-Johansen panel co-integration test confirms that there is one co-integrating equation among GDP per capita, HDI and GDI during the survey period. The co-integrating equation tends to equilibrium which indicates that there is long run association among them. From the System equation of VECM it was verified that there is long run causality running from HDI and GDP per capita to GDI. Error correction process showed that the speed of adjustment is 95.25% per year significant. Wald test verified that there is no short causality running from HDI and GDP per capita to GDI and vice versa but there is short run causality running from HDI to GDP per capita. Over all, the VECM is stable, non-stationary, non-normal and serially correlated.

Key Words-gender development index, human development index, GDP per capita, Fisher-Johansen co-integration, panel vector error correction model, short run and long run causality.

JEL Classification –C23, J16, O15

The paper concludes that one per cent increase GDI per year led to 0.1143% increase in GDP per capita and 0.0191% increase in HDI per year significantly during 1990-2015 which were found by fixed effect panel regression. Fisher-Johansen panel co-integration confirms that there is one co-integrating equation among GDP per capita, HDI and GDI during the survey period. The co-integrating equation tends to equilibrium which indicates that there is long run association among them. From the System equation of VECM it was verified that there is long run causality running from HDI and GDP per capita to GDI. Error correction process showed that the speed of adjustment is 95.25% per year significant. Wald test verified that there is no short causality running from HDI and GDP per capita to GDI and vice versa but there is short run causality running from HDI to GDP per capita. Over all, the VECM is stable, non-stationary, non-normal and serially correlated.