In India, we're quite gloomy about the place that has been given to
organised labour. But these questions are not closed elsewhere in the
world. See
Barro on the appropriate place of trade unions, and
Bai in the New York Times magazine on a politician taking
on public sector trade unions.
Manoj
Mitta has written, in the Times of India, about the new
world of a Supreme Court headed by S. H. Kapadia.
Maybe
the time will soon come to close down this blog.
An
editorial on the questions that face U. K. Sinha as the new
SEBI
chief. And, Anirudh
Laskar has an article in Mint about concerns about SEBI
suffering a big upheaval.
Deepak
Shenoy in Pragati on Paypal's problems in India.
A
new opening act by Ila Patnaik, in the Indian
Express on 2 March 2011, on the announcements in the budget
speech on capital controls.
S. S. Tarapore
in the Hindu Business Line, on the FSLRC.
Joel
Rebello in Mint on the internationalisation of India's
investment bankers.
Ashish
Dhawan on his leaving the firm and what he will do next.
reporting in Mint by Sumeet Chatterjee about the potential
for distress at
Communications.
Ashish
Khetan has a great story in Tehelka about the 2G scandal.
India
is chipping away on removing visa restrictions.
Remya
Nair and Surabhi Agarwal in Mint on post offices
selling insurance
products. Also see.
Why does China have a SOB-dominated financial system while India
has a market-dominated financial system? Writing on Project
Syndicate, Mark
Roe has a clue.
A great
lecture by Stan Fischer at the RBI.
Why I
write, by George Orwell.
Felicity
Barringer looks back at Chernobyl.
The revolutions of the Arab world are endlessly fascinating. Read
of Rage by Max Rodenbeck and
revolution is not yet over by Yasmine El Rashidi on the New
York Review of Books blog. On Libya:
Ashour on Project Syndicate.
Koike on Project Syndicate, on the evolution of production
chains in Asia.
end of China's cheap denim dream by Malcolm Moore in the
Telegraph.
Pettis on the prospect of shorting a country that has $3
trillion in reserves.
Dubai
on empty by A. A. Gill in Vanity Fair.
Football betting is a good place to measure the extent of wisdom of
the crowd. In a paper
titled Information
and Efficiency: Goal Arrival in Soccer Betting, Karen
Croxson and J. James Reade argue: In an efficient market, news is
incorporated into prices rapidly and completely. Attempts to test
for this in financial markets have been undermined by the
possibility of information leakage unobserved by the
econometrician.... sports betting markets offer a superior way
forward: assets have terminal values and news can break remarkably
cleanly, as when a goal is scored in soccer. We exploit this context
to test for efficiency, applying a novel identication strategy to
high-frequency data. On our evidence, prices update swiftly and
fully.
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