Productivity and its drivers in the UK and comparable
developed countries
A significant proportion of cross-country variation in GDP growth is explained
by the variation in productivity growth rate. Hence, it is important to develop an understanding about policies that raise
the trend rate of productivity growth for an economy. That in turn, requires an understanding of the cyclicality of productivity
itself and that of its determinants. Since economic downturns reduce the opportunity cost of productive resources, they provide
opportunities to implement changes that raise the aforementioned trend rate of productivity growth. The first part of
the project aims to examine the academic literature on the cyclicality of productivity and its determinants. The second part
of the project plans to examine the available evidence about the British government's policies regarding these determinants,
especially in the context of the most recent (and perhaps the previous) recession, and the behaviour of the firms that are
the decision making units in the context of production.
Impact of state-ownership of banks on privately-owned firms’ access to credit
Details of
this British Academy funded project will be posted shortly.
Enterprise risk management in India
This project extends the research of the Conference Board on Enterprise Risk Management (ERM) in the USA to
India. It uses case studies of four Indian companies -- Tata Chemicals, Tata Motors, Dr. Reddy's and ICICI Bank -- to draw
conclusions about the nature of ERM in the Indian corporate sector. The final report, co-authored with Ellen Hexter
and Matteo Tonello, has been released in April 2008.
Enterprise performance in Lagos
The World Bank sought expert opinions on the factors that hinder growth and financial viability of firms in Lagos,
the largest non-oil industrial region of Nigeria. The basis for the opinions was firm-level data collected
by the Bank from the population of large firms, and random samples of small and medium enterprises, and informal sector
firms. Saul Estrin and I acted as consultants to the Bank. The final report was submitted to the Bank in the summer of
2006.
Market development in emerging markets - II
The Department for International Development (DfID) funded project aimed at exploring the nature of impact of institutions
on market development in emerging markets. The project was managed by Saul Estrin, and the Centre for New and Emerging
Markets at London Business School served as the secretariat for the project.
The key question addressed in the course of the project was how local institutions in emerging markets affect entry of
firms into product markets. It also explored the impact of entry on firm-level total factor productivity. The project builds
on the seminal work of Hernando de Soto, as also on the research of Mark Roberts, James Tybout and Simeon Djankov, among others.
The empirical work was undertaken using firm-level secondary data from the BRICS countries, namely, Brazil, Russia, India,
China and South Africa, and Senegal. I was involved in the Indian end of the project, and worked closely with the
Indian team led by Shubhashis Gangopadhyay of India Development Foundation. The project came to an end in 2005.
Sample output:
Sumon Bhaumik, Shubhashis Gangopadhyay and Shagun Krishnan (2008) Entry, Reforms and Productivity: Some Evidence from
the Indian Manufacturing Sector. Review of Development Economics (forthcoming).
Sumon Bhaumik, Shubhashis Gangopadhyay and Shagun Krishnan (2008) Policy, Economic Federalism, and Product
Market Entry: The Indian Experience. European Journal of Development Research, 20(1): 1-30.
Sumon Bhaumik, Shubhashis Gangopadhyay and Shagun Krishnan (2007) Entry, Reforms Complementarity and Performance: A Tale
of Two Indian Manufacturing Sectors, Economic Systems, 31(4): 375-390.
Market development in emerging markets - I
The Department for International Development (DfID) funded project aimed at exploring some aspects of the functioning
of multinational enterprises in emerging markets. The project was managed by Klaus E. Meyer and Saul Estrin, and the Centre
for New and Emerging Markets at London Business School served as the secretariat for the project.
The key question addressed in the course of the project was how local institutions in emerging markets interact with
resource requirements of the multinational enterprises in determining the choice of mode of entry of these enterprises into
the emerging markets. The importance of this choice arises from the correlation between the entry mode and factors like technology
transfer that influence the spillover effects of foreign direct investment.
Firm-level data were collected from multinational enterprises operating in Egypt, India, South Africa and Vietnam. I
was involved in the management of the project, and worked closely with K.E. Meyer and S. Estrin, on the one hand, and with
the Indian team, led by Subir Gokarn and Laveesh Bhandari, then at the National Council of Applied Economic Research
in New Delhi, on the other. The project came to an end in 2003.
Sample output:
Klaus E. Meyer, Saul Estrin, Sumon Bhaumik and Mike Peng (2008) Institutions, Resources, and Entry Strategies in
Emerging Economies. Strategic Management Journal, 30(1): 61-80.
Sumon Bhaumik, Saul Estrin and Klaus E. Meyer (2007) Determinants of Employment Growth at MNEs: Evidence from Egypt,
India, South Africa and Vietnam. Comparative Economic Studies, 49(1): 61-80.
Sumon Bhaumik and Stephen Gelb (2005) Determinants of MNCs' Mode of Entry into an Emerging Market: Evidence from Egypt
and South Africa. Emerging Market Finance and Trade, vol. 41, no. 2, pp. 5-24.
Country report on Bulgaria
The Global Development Network (GDN) sponsored by the World Bank solicited proposals for country reports on transition
economies of Central and Eastern Europe and developing countries around the world. My proposal for Bulgaria, developed jointly
with Ivona Jackimova and Alexander Shivarov of Varna University of Economics, received a nod. The final report was submitted
to GDN in 2001.
Sample output:
Sumon Bhaumik (2001) Bulgaria: Legacy, transition and the soft underbelly of macroeconomic stability. Money &
Finance, July-September.
Report on tax administration in India
The United Nations Development Programme (UNDP) had sponsored a programme to evaluate tax administration
in India. The project was managed by the National Institute for Public Finance and Policy, New Delhi. I co-authored the section
on property tax administration in India, along with Om Prakash Mathur. The final report was submitted to the UNDP and the
Government of India in 1997.
Sample output:
Sumon Bhaumik (1998) Property tax: A survey of the problems. Asia-Pacific Tax Bulletin, vol. 4, no. 5.
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