Background The devastating spread of the novel coronavirus, named COVID-19, starting its journey from Wuhan Province of China on January 21st, 2020, has now threatened lives of almost all the countries of the world in different magnitudes. Mostly the developed countries have been hit hard, besides the emerging countries like China, India and Brazil. The scientists and the policy makers are in dark with respect to its spread and claiming lives in coming days. Objectives The present study aims to forecast the number of incidences in severely affected seven countries, USA, UK, Italy, Spain, France, China and India, for the period July 12-Septmeber 11, 2020 and compares the forecasted values with the actual values to judge its depth of severity and growth. Method The study uses Box-Jenkins method of forecasting in an Autoregressive Integrated Moving Average (ARIMA) structure on the basis of the daily data published by World Health Organization from January 21st to July 11, 2020. Results It is observed that USA and India are the two countries whose increasing trends will continue in the forecasted period (July 12 to September 11), others except China will face lower number of incidences. China's incidence has come to halt around 80000 in numbers. The growth rates of the number of incidences for all the countries during the forecasted period will be diminishing. The mean difference test results between the forecasted and actual values in level and growth forms show that in the former case, USA, India, UK will face increasing forecast than the actual number but in the latter case, all of the countries will face significantly decreasing growth rates in the forecasted values compared to their actual growth values.

Industrial houses and governments of different countries and groups spend a sizeable amount of their earnings upon research and development activities to create new products and obtain patents for them. The short-run motive is to get patents, and the long-run motive is to influence income growth of the countries. The empirical findings so far are skeptical on the effects of research and development (R&D) spending. The present study further investigates the long-run associations and short-run dynamics among R&D spending, number of patents and per capita income growth in the panel of countries and groups for the period 1996–2017. Using VAR model for the panel data, the study observes that R&D spending, number of patents and per capita income growth have no long-run equilibrium relations but in the short-run, income growth and number of patents make a cause to R&D spending. However, there are weak causation from patents and R&D spending to income growth rates. The study thus recommends for controlling unfair competition on spending on R&D head and getting patents since it increases the magnitudes of social cost.

Private use of public office for private gain could be a tentative connotation of corruption and most distasteful event of corruption is that it is not there, nor that it is pervasive, but it is socially acknowledged in the global economy, especially in the developing nations. In the present paper we attempt to assess the interrelationship between the Corruption perception index (CPI) and the principal components of governance indicators as per World Bank Governance Indicators like Control of Corruption (CC), Rule of Law (RL), Regulatory Quality (RQ) and Government Effectiveness (GE). Applying Granger Causality Test the study observes a mixed or inconclusive result. Only bilateral causal link between the CPI and CC works for UK, whereas there are unilateral causal links between the CPI and one or more governance indicators working for other countries for France, Japan, China, India, Thailand and South Africa. In no way causalities are observed for USA, Germany and Brazil.

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In a world of having large part suffering from the inadequacies of basic needs and inter-class and inter-regional income disparities, investing upon the development of different social sectors from the state exchequers have been one of the top agendas of the policymakers. It is not a different issue for the states and provinces of the developing countries like India. Besides having positive roles on economic betterment, spending on social expenditures sometimes work in favour of the ruling political parties to gain confidence from the voters. The states thus compete in this area. Under this background, the present study attempts to examine whether the states of India are converging in social sector’s expenditure for the period 1980–81 to 2017–18. Applying the neoclassical growth and panel unit roots models the study observes unambiguously that there are absolute and conditional β convergence and σ convergence in per capita social expenditure among the states. JEL Classification: H72, O470, C23, O530