India's liberalization and deregulation policies during the early 1990s have attracted a huge amount of foreign direct investment (FDI) into India in recent years. India has been ranked as the second most favored FDI destination in the world, just behind China. Policy makers in many countries believe that FDI will lead their country's overall development, including the tourism sector. this article investigates the causal link between FDI and tourist arrivals in India by employing the Granger causality test under a VAr framework. A two-way causality link is found between FDI and tourist arrivals in India. this explains the rapid growth in the tourism sector as well as FDI in India during the last decade. Our two-way causality results in relation to India are similar to the findings of a number of small island developing states (SIDS).

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and the US, using the Rotterdam demand system. A crosscountry comparison of the results shows that in most countries (i) wine consumption has grown at a faster rate than l::eer and spirits; (ii) the proportion of consumers' expenditure on alcohol is declining; (iii) beer is a necessity and spirits is a luxury; (iv) the demand for the three beverages is price inelastic; and (iv) all three beverages are pair-wise substitutes. We also investigated the hypothesis of identical parameters for all countries by pooling the data across countries and found that the data do not support the hypothesis.

Financial resilience is characterised by four sets of variables, namely economic resources, financial inclusion, financial capability and social capital. The purpose of this study is to examine the association between financial resilience and life satisfaction of Indigenous Australians using the (2014/ 2015) National Aboriginal and Torres Strait Islander Social Survey data. The results reveal that running out of money for living and problems in accessing financial services have significant negative implications on the life satisfaction of Indigenous Australians. The ability to raise money in an emergency, social connections and community support in times of crisis contributes to greater life satisfaction.

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