No abstract

Imperfections in the private market increase the scope of social insurance worldwide. Social insurance is designed to provide protection against heterogeneous risks. In a welfare state, consumer's demand for social insurance arises from the need for optimum policy coverage. Likewise, government intervention facilitates the insurance market by minimizing the effect of imperfect information and moral hazard. Designing cost and benefits of a policy, assessing the required level of risk to be taken and selecting integrated services (for example, medical care) are among the salient roles of the supplier. The present paper tries to find out the main drivers for social insurance in India. For this purpose, we have applied the Analytic Hierarchy Process (AHP) to determine the most important alternative among the different alternatives. The model consists of nine criteria and three alternatives. The results show that the consumer's demand is on the top of the hierarchy which signifies that the optimum policy coverage must be given due to consideration for mass administration of social insurance programs. The findings are important for policymakers in order to address consumer's needs so that enrollments in the insurance policies can be enhanced. The contribution of the study significantly includes the determination of a new set of study variables along with the application of the AHP methodology.

In the context of recent energy transition from hydrocarbon molecules to electrons, this research aims to examine the degree of substitution between renewable energy sources and fossil fuels through a dynamic framework of time‐varying parameters under state‐space model. For this purpose, this research selects four major oil‐importing countries and employs annual time series data for crude oil imports, gross domestic product, crude oil price, renewable energy consumption, population growth, real effective exchange rate and industrial production index for each country in the sample while covering the period 1991–2018. The estimates reveal positive and significant income, population and industrial production index elasticities for most of the countries in the sample. In addition, this research finds negative and statistically significant elasticity between renewable energy consumption and demand for imported crude oil for India, China and Japan, although magnitude is very small. However, there is insignificant and little substitution for US data. This research is unique as to our knowledge there is no such study available before and it provides insights for policymakers in oil‐exporting countries to develop sustainable long‐term diversification strategies to reduce reliance on oil revenues.

The concept of 'Green FDI' is not any older. The continuous threat of global warming and environmental degradation forced economists to raise the issue with an intention to step up the efforts of attracting and nurturing environmentally sound technology and practices. India is a power deficient and a fund scarce country. Government efforts to attract foreign investors in the non-conventional sector, considering it to be green, can bring more efficiency, technology and paced sustainable development to the economy. Present study is an attempt to prove the scope and compatibility of Green FDI with the total foreign investment in India. Considering the infancy of identified field, a different approach of assessment has been adopted. Association of green FDI and Eco-Destructive FDI with the total FDI has been acknowledged through Regression Analysis. Comparison of relationship with the contradictory sectors helped in reaching the conclusion effectually. Results provided that the FDI in non-conventional energy in India does have a long term and stronger relationship with total foreign investment which eventually verifies pink and healthy future of Green FDI in the country.