For the utilization of each lignin fraction in the lignin liquors, the development of separation strategies to fractionate the lignin streams by molecular weight ranges constitutes a timely challenge to be tackled. Herein, membrane filtration was applied to the refining of lignin streams obtained from a lignin‐first biorefining process based on H‐transfer reactions catalyzed by Raney Ni, by using 2‐PrOH as a part of the lignin extraction liquor and as an H‐donor. A two‐stage membrane cascade was considered to separate and concentrate the monophenol‐rich fraction from the liquor. Building on the results, an economic evaluation of the potential of membrane filtration for the refining of lignin streams was undertaken. In this proof‐of‐concept report, a detailed analysis is presented of future developments in the performance required for the utilization of membrane filtration for lignin refining and, more aspiringly, solvent reclamation.

The paper investigates the aggregate import demand function for India using Johansen's cointegration method. The result shows that there is a long run equilibrium relationship between real imports, real income, relative price of imports and real foreign exchange reserves. In the long run, import is found to be elastic with respect to income, and inelastic with respect to relative price and foreign reserves. In the short run also, we find a significant relationship between import, income, relative price and foreign exchange reserves. However in the short run, import is found to be inelastic with respect to all of these variables. The evidence suggests that depreciation may not give desirable results for the economy as far as containing the import bill is concerned. The promotion of export would be a better option to take care of problem of trade deficits. Keywords: Import, GDP, Relative price of imports, Foreign exchange reserves, Cointegration 1. Introduction Foreign exchange (F.E.) reserves is considered as an important determinant of import demand, more so, of developing countries. Since this is the only medium of exchange in international market, it acts as a constraint for the developing countries to import necessary goods and services. Thus, any increase in the foreign reserves may be expected to accompany an increase in import of goods and services. This is the hypothesis which this paper intends to examine in the case of India. Many a times India experienced an adverse effect on its pace of economic growth for want of necessary inputs due to inadequate foreign exchange reserves. More recently, in 1991 when F.E. reserves plummeted to just fifteen days of imports, India faced severe economic crisis for non availability of important inputs required for sustaining growth. Since the inception of economic reforms in 1991, the reserves of foreign exchange have increased to a comfortable level. During the period import has also increased at a high rate of over 25 percent per annum. It is in this context, the paper seeks to examine the import demand function for India and its relation with F.E. reserves, both in the long run and in the short run. The rest of the paper is organized as follows. Next section briefly presents the review of literature. This is followed by model specification and methodology. Empirical result is presented in section IV. Final part concludes the paper. Review of LiteratureMany researchers have carried out studies on behavior of import demand of the developing countries and related import to relative price of imports and income of the country (Dutta and Ahmad, 1997;Sinha, 1997;Cheong, 2003;Chang and Juang, 2005;Kalyoncu, 2006). Most of these studies found a negative relation of import with its price and negative relation with income of the country. In addition to income and relative price of import, Dutta and Ahmad (2006) also used dummy variable to incorporate the effect of trade liberalization on imports, while examining India's import function. He concluded that the income and ...

The oil price shock of the 1970s and its disruptive impact on the economic activities all over the world dragged the attention of researchers to study the interaction between energy and real output. However, no conclusive evidence could be submitted about the direction of causality between the two. The present study has been an attempt to understand such relationship in the case of India. The paper has used the data from 1971 to 2014 and has found long run stable relationship between energy use and real output. The study also reveals that in the short run, there is unidirectional relationship between the two and energy Granger causes economic activities in India. In the long run, we find bidirectional relationship between energy and economic prosperity of India.

<p>One of the most important objectives of an economy is to achieve high rate of economic growth so as to improve the well-being of their citizen. For the purpose, export-oriented policy measures are more preferably prescribed in the recent past. The present study aims at to find the linkages between exports and economic growth in case of Saudi Arabia. The study uses the most efficient unit root, cointegration and causality tests to find the true relationships between exports and economic growth. The study tries to examine the dynamic association for exports and economic growth in Saudi Arabia. Applying more popular time series technique of long run relationship and causality, the paper finds the long-run cointegration relationships in our export-growth model. Further, we have found feed-back effect in export-growth relationships and suggest the further export-promotion to foster economic growth in Saudi Arabia. </p>

The paper examines the relationship between domestic investment, export and economic growth in India during 1970-71 to 2007-08. Using Johnson's cointegration methodology the study found the presence of a long term relationship between investment, exports and the economic growth of India. The study further shows that only domestic investment significantly contributes to economic growth both in the long run and in the short run. The export, though, has positive relation with economic growth, its contribution has not been found to be significant. The policy implication is that India should continue to focus on domestic investment while diversifying investment towards promoting export sector through investments in infrastructure.