Economic Rights, Human Development Effort and Institutions

This paper focuses on the link between economic rights and institutions. Simple analysis of data is used to demonstrate countries' human development effort in advancing economics rights of the citizens. A country's human development effort is evaluated on the basis of the well-being of the poorest members of the society. An analysis of data reveals that there is a wide variation in countries' pro-poor stance. While it is accepted that positive rights are pro-poor, this paper argues that so too are negative economic rights and in fact the two are complements rather than substitutes. Classifying countries into human development income deficit and human development effort deficit, it is demonstrated that a large number of countries could achieve higher welfare levels for the poor if they improved on bother positive and negative economic rights. The paper attempts to explain variations in the observed commitment to economic rights by focusing on pro-poor institutions. The basic thesis advanced in the paper is that pro-poor policies are more likely to be implemented and sustained in those institutions where power is sufficiently diffused such that even the poor have leverage over policy outcomes. The paper focuses on how institutions impact on power diffusion and therefore the adoption of pro-poor growth and policies. The failure of countries to adopt pro-poor growth and policies is attributed to institutional failures manifested in concentration of power. The policy recommendations emanating from the analysis focus on institutional reforms to enhance power diffusion. These policies include enlarging the political space through democratization, strengthening institutions and capacity to fight corruption and improve transparency, and bringing the government closer to the people through appropriate design and implementation of decentralization schemes. Some recent examples of improvements in economic rights following power diffusion are provided.

Liberalization, Ownership, and Efficiency in Indian Banking: A Nonparametric Approach

This paper empirically estimates and analyzes various efficiency scores of Indian banks during 1997-2003 using data envelopment analysis (DEA). During the 1990s India's financial sector underwent a process of gradual liberalization aimed at strengthening and improving the operational efficiency of the financial system. It is observed, none the less, that Indian banks are still not much differentiated in terms of input or output oriented technical efficiency and cost efficiency. However, they differ sharply in respect of revenue and profit efficiencies. The results provide interesting insight into the empirical correlates of efficiency scores of Indian banks. Bank size, ownership, and the fact of its being listed on the stock exchange are some of the factors that are found to have positive impact on the average profit efficiency and to some extent revenue efficiency scores are. Finally, we observe that the median efficiency scores of Indian banks in general and of bigger banks in particular have improved considerably during the post-reform period.

Alessandro Baricco: A Modern Homer / Alessandro Baricco: Omero Modern

Alessandro Baricco is an Italian author, pianist, journalist and music critic, among a wide range of many other talents. His novels have won great critical acclaim in Italy and France and are popular around the world. While generally considered among the postmodern writers, some critics have accused him of being a forerunner in a 1990s movement dubbed letteratura giovanile, that is juvenile literature that is simplistic, targets a young audience and is created for the sole purpose of making money. This criticism is unwarranted. Baricco is a multitalented author who pays strict attention to the quality of his work and weaves plotlines replete with a diverse set of genres, literary devices and symbolism, often inspired by other great writers and thinkers. However, literary critics have yet to acknowledge one of Baricco's strongest and most important influences: Homer, the ancient Greek bard and author of the epic poems, the Iliad and the Odyssey. Taking Baricco's work in a Homeric context can aid in viewing it as valid and important work, worthy of scholarly discussion and interpretation, rather than, as some critics accuse, a one-dimensional story meant only for children. This paper will argue that Baricco's work is Homeric and, in fact, Baricco's implementation of many of Homer's devices, such as his understanding of his audience and use rhythmic language and stereotyped story patterns, has aided Baricco's great success and popularity.