Ajay Shah
Ajay Shah
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articles by Ajay Shah


Do companies with more women directors do better? Correlation is not causation

There are simply too many studies that jump to conclusions based on correlations. There are many things you can't infer from a regression analysis


BJP asking right questions: Abolish all taxes barring IT and GST

India can provide a good government with 12 percent tax-GDP ratio. For this, we can abolish all taxes barring income tax and GST.


Is a high CAD bad? Think again. It makes govt accountable

Is having a big current account deficit bad? Not quite. If the the currency markets are free, a CAD finances itself. But governments may not like the outcomes.


Reading in between lines: Where Raghuram Rajan goofed up

Raghuram Rajan should have clarified objectives, instruments and operating procedures in monetary policy. What he has done is confuse all issues.


Govt vs citizen: Should we ban things we can't control?

It is convenient for bureaucrats to ban anything they find difficult to understand or control. But in doing this they are working against the citizen's interests.


Why protests don't end up in change: We need more wonks

Everyone in India should ask why the policy wonks are so interested in health, education and welfare programmes, and so disengaged with basic public good.


How India's focus on welfare is damaging law and order

India's politicians focus on doling out freebies, which benefits a few, because this is where their votes lie. They should focus on public goods, including safety and law and order, which benefits all


Emkay fiasco: We need a resilient market, not a costly failsafe one

Should a stock market be safeguarded from fat-finger trade errors at high cost or be made resilient to such shocks?


Why Indian capitalism isn't doomed despite cronyism

The markets have begun to sort out companies with an ethical deficit. Hence, despite the current scams, Indian capitalism has a future


Maruti violence: Is Bihar now better than Haryana?

The Maruti unrest is testimony to the inability of the Haryana government to maintain law and order - a prerequisite for business growth


There is no tradeoff between growth and inflation

Some people think that a little higher inflation is better than slower growth. But this is a fallacious argument


What security? Costs of KYC outweigh the benefits

We in India have given up even an attempt at protecting civil liberties from an encroaching state that wants to know a lot about us.


A setback to public sector elementary education

The RTE Act was an attack by public sector schools to hobble private providers of education. A discussion on pros and cons.


Delhi airport hike: precedent that will be closely watched

How should tariffs be set for natural monopolies like airports? The recent tariff hike for Delhi airport will be closely watched


Welfare programmes change people's behaviours

Welfare programmes everywhere change human behaviour. NREGA too has done so by preventing migration to cities - something that's needed for progress.


Gujarat innovates a new trail in Right to Education

Gujarat's Rules for the Right to Education Act focus on outcomes rather than just inputs. Parents and children are also at the centre of the innovation.


Some interesting readings

A guide to some of the interesting articles of the last few weeks


The US takes to inflation targeting - and how!

The US Fed has announced an official inflation rate it will be targeting - 2 percent. It proposes to make policy more transparent.


Land ownership as a curse: How India's landowners lost out

India's landed gentry have lost out due to a lack of engagement with the market.


Business cycle effect: Why our growth will be volatile

Bad policy may be lowering the Indian economy's trend rate of growth, but the business cycle will give us more volatility in GDP growth.