Article Contents
Title: Global Flux – A Kaleidoscope of Challenges and Opportunities
Series: Ecofunomics
Issue: February 2025
Edited By: Research & Publishing Department, Ecofunomics LLP
Website: http://www.ecofunomics.com
Email ID: contact@ecofunomics.com
Contact No: +91 -7482028953
Edition Details: 1st Edition
ISSN (Online): 2583-780X (Online)
Ecofunomics, founded on February 16th, 2018, is more than just an annual peer-reviewed journal—it’s a beacon illuminating the world of economics and management with engaging, accessible content. Our mission is to infuse the study of economics with excitement and accessibility. Through insightful articles, academic papers, and research, we aim to demystify complex concepts using relatable examples and straightforward language.
Beyond publishing, Ecofunomics is a dedicated educational and research platform, that passionately shares knowledge with inquisitive minds. Guided by the belief that knowledge serves society’s best interests, we wield the torch of enlightenment to illuminate the paths of understanding.
Our commitment extends further, striving to elevate underprivileged students, empower women in academia, and infuse education with the zest of enjoyment. At Ecofunomics, we’re not just spreading information—we’re cultivating a vibrant, inclusive, and enjoyable learning experience for all.
Year – 2024-25| Volume 7 | Issue 1
| Chapter 1 | The GLP Trinity: Challenges and Opportunities in A Changing World Rev. Prof. W. Wimalaratana University of Colombo wimala@econ.cmb.ac.lk Category: Featured Article DOI: 10.5281/zenodo.14681713 Globalization, liberalization, and privatization (GLP) have revolutionized the global economy, driven growth, and expanded opportunities through increased trade and interconnectedness. However, challenges include rising inequality, job displacement, and environmental concerns. The rise of multinational corporations and the erosion of national sovereignty are also significant concerns. The Fourth and Fifth Industrial Revolutions, fuelled by automation and AI, have further accelerated GLP. To ensure equitable and sustainable development, policymakers must navigate this complex landscape by prioritizing social equity, environmental protection, and inclusive growth. A balanced approach is crucial to harness the benefits of GLP while mitigating its risks and creating a more just and sustainable future for all. Keywords: Globalization, Liberalization, And Privatization JEL Classifications: F10, F13, H52 |
| Chapter 2 | Artificial Intelligence and Foreign Direct Investment Dr. Shreya Roy Ecofunomics LLP. and Indian Institute of Foreign Trade shreya@ecofunomics.com Category: Research Article DOI: 10.5281/zenodo.14684335 This paper fundamentally investigates the intricate relationship between Artificial Intelligence (AI) and Foreign Direct Investment (FDI). Developed nations utilize FDI as a mechanism for transferring data and advanced technologies to developing economies, simultaneously optimizing labor costs and accessing new markets. Employing a 2×2 General Equilibrium Model, this study demonstrates that FDI inflows into a small, open economy will stimulate expansion in the capital-intensive AI sector while concurrently contracting the non-AI sector. A descriptive analysis of the Indian context further substantiates this observation, revealing a strong positive correlation between AI and FDI inflows, suggesting that increased FDI will significantly enhance AI penetration. The findings emphasize the crucial role of policies that facilitate technology transfer, foster innovation spillovers, and promote sustainable development through AI-driven FDI. The paper also delves into specific Indian case studies where companies have successfully attracted substantial FDI, further elucidating the mechanisms through which FDI contributes to AI penetration. Keywords: Artificial Intelligence, Foreign Direct Investment, Technology Transfer JEL Classifications: F21, O33, O19 |
| Chapter 3 | Post-Reform Dynamics: Growth Trajectories in The Indian Chemical Sector Dr. Sanchita De Institute of Engineering and Management, University of Engineering and Management, Kolkata. desanchita90@gmail.com Category: Research Article DOI: 10.5281/zenodo.14709261 The current study evaluates the Total Factor Productivity Growth (TFPG) of the Indian chemical industry in the post-reform era by employing Non-parametric Data Envelopment Analysis (DEA). The analysis utilizes the CMIE Prowess Database at the firm level for the period from March 1995 to March 2016. The findings indicate a decline in TFPG from 1.004 in 1995-96 to 0.877 in 2015-16, reflecting a 4.6% decrease, with an average TFPG of 0.954 over the study period. Efficiency change is identified as the primary driver of TFPG, suggesting that inputs are being utilized more effectively, contributing to sustainable growth. The determinant analysis reveals that Advertising and Marketing have a U-shaped impact on TFPG, while Research and Development and Net Exports exert a positive influence. Additionally, these strategic variables are significantly affected by TFPG within the Indian chemical industry. The study proposes several policy measures aimed at enhancing TFPG in this sector. Key Words: Total factor productivity growth, Manufacturing Sector, Indian Economy, Data Envelopment Analysis, Malmquist Index JEL Classifications: D24, L6, O50 |
| Chapter 4 | The Impact of AfCFTA on Economic Growth: A Panel Data Analysis of African Countries Gunjan Kumari Indian Institute of Foreign Trade madhesiagunjan@gmail.com Category: Research Article DOI: 10.5281/zenodo.14713095 Intending to lift 50 million people out of extreme poverty, the African Continental Free Trade Area (AfCFTA) started trading among its member countries in January 2021. The main objective of the AfCFTA includes reducing trade-related problems, smoothing investment opportunities, and removing trade barriers in African countries. This study uses panel data to examine the impact of foreign aid, inflation, the AfCFTA agreement, and external debt on the GDP of African countries. The annual data used in the analysis was collected from different data sources from 2000 to 2022. Out of 54 African countries, 35 were taken for study based on availability of data. A fixed effect panel regression model has been used in this study to establish the relationship between the GDP of African countries and the AfCFTA agreement, inflation, external debt, and foreign aid. The results indicate that the AfCFTA membership has a significant positive impact, highlighting the benefits of regional trade integration among African countries in fostering GDP. Keywords: Africa, GDP, AfCFTA, FDI, Panel data JEL Classifications: N27, O55, F21, C23 |
| Chapter 5 | Decoding South Asia’s Fiscal Balancing Act in Defence, Development, and Demographics Sumon Banerjee Ecofunomics LLP. sumon@ecofunomics.com Category: Perspective DOI: 10.5281/zenodo.14709800 This study examines the economic trade-offs of rising military spending in South Asia, focusing on India. The South Asian countries allocate significant portions of their budgets to defense, driven by regional tensions and internal conflicts. This often comes at the expense of vital social sectors like education and healthcare. The study analyses defense spending as a percentage of GDP and compares it with investments in these sectors. Preliminary data suggests that in 2023, India and Pakistan allocated a larger share of GDP to defense than to education and healthcare combined. This research highlights the opportunity costs of excessive military spending. It emphasizes the need for a more balanced approach to resource allocation that ensures national security does not compromise sustainable economic development and social welfare in these nations. Keywords: Military Expenses, South Asian Economies, Developing Economies JEL Classifications: H56, O53, O10 |
| Chapter 6 | Forest Management and Issues Deepali Gupta TERI School Of Advanced Studies deepalig2310@gmail.com Category: Perspective DOI: 10.5281/zenodo.14708923 Sustainable forest management is essential for maintaining ecological integrity and ecosystem services while still providing economic and social benefits. This paper examines effective management approaches for sustainable forestry. This term paper reviews the literature on key practices that promote sustainable forestry. The findings indicate that collaborative governance involving local communities, adaptive management, and ecosystem-based approaches are most effective for sustainable forestry overall. Collaborative governance with local stakeholder engagement leads to more socially accepted and ecologically sustainable decisions. Adaptive management that monitors and continuously adjusts to changing conditions enables adaptation to climate change and other uncertainties. Ecosystem-based approaches that maintain biodiversity, ecological functions, and ecosystem services provide greater long-term sustainability. Key implications are that governments and the forestry sector globally should adopt these management frameworks to balance ecological, economic, and social objectives. Further research could evaluate specific practices within these approaches that are most successful across various regional contexts. This paper concludes that a participatory, adaptive, and ecosystem-based management paradigm is needed for sustainable forestry worldwide. Keywords: Sustainable Forestry, Collaborative Governance, Adaptive Management JEL Classifications: Q23, O13, Q58 |
| Chapter 7 | Sharing Made Simple: Sustainable Consumption with Shared Economies Aaroohi Dudeja American Express aaroohidudeja10@gmail.com Category: Forum DOI: 10.5281/zenodo.14709034 The sharing economy, also known as collaborative consumption, is revolutionizing industries by leveraging digital platforms to enable peer-to-peer exchanges of goods and services. This model emphasizes access over ownership, facilitating resource-sharing, and creating new economic opportunities. As this trend continues to grow, it is reshaping sectors such as transportation, hospitality, finance, healthcare, and education. This article will explore how the sharing economy impacts various industries, highlight examples of real-time practices, and analyze the broader benefits in terms of sustainability, social equity, and global economic impact, especially in developing regions. Keywords: Sharing Economy, Collaborative Consumption, Sustainability JEL Classifications: O31, Q57, L14 |
| Chapter 8 | Byju’s A Study in EdTech Disruption and Decline Aditi Santra, Barsha Mondol*, Sandhita Mondol, Shuktikaa Ghosh Sivanath Sastri College bm460345@gmail.com Category: Case Study DOI: 10.5281/zenodo.14710254 This case study examines the evolution and challenges of Byju’s, a prominent Indian EdTech company. Founded in 2008, Byju’s has revolutionized education through innovative digital learning solutions, achieving rapid growth and a significant market valuation. However, the company currently faces a confluence of challenges, including financial mismanagement, operational issues, and regulatory scrutiny. This analysis delves into Byju’s strategic decisions, market penetration strategies, and the factors contributing to its meteoric rise and subsequent challenges. It explores the impact of the COVID-19 pandemic on the company’s growth and analyses its current financial position, operational strategies, and the competitive landscape. The case study concludes by examining the lessons learned from Byju’s trajectory and its implications for the future of the EdTech sector. Keywords: EdTech, Disruptive Innovation, Business Model Sustainability JEL Classifications: I21, L86, O32 |
| Chapter 9 | From Plantations to Teacups: Analyzing Tea Preferences in India Samrat Bharadwaj Independent Researcher & Torsa De Sarkar United Missionary Girl’s High School torsadesarkar99@gmail.com Category: Case Study DOI: 10.5281/zenodo.14679423 This study explores the tea consumption patterns of Indian citizens, drawing on a primary survey conducted by Ecofunomics LLP in 2024. The survey, involving 170 respondents from diverse demographic backgrounds, aims to understand the factors influencing tea preferences in India. The findings reveal that tea remains a staple in Indian households, with 65.3% of respondents consuming it daily. Milk tea is the preferred choice for most (68%), while black tea, green tea, and herbal tea are less popular. The survey also highlights the continued reliance on traditional retail outlets, with 60.9% of respondents purchasing tea from local grocery stores. Brand reputation plays a minimal role in influencing tea choices, as taste, flavor, and freshness are the primary considerations for most consumers. Additionally, the study sheds light on the significant domestic demand for tea, which, coupled with export requirements, places pressure on India’s tea production. These insights contribute to understanding tea consumption trends and their implications for the industry. Keywords: Tea, Consumer Preference, Indian Case Study JEL Classifications: Q13, D12, O57 |
| Chapter 10 | Exploring the Age of Artificial Intelligence Mehak Thakur Independent researcher and critique Thakur_mehak12@gmail.com Category: Book Review DOI: 10.5281/zenodo.14679192 In The Age of Artificial Intelligence: An Exploration, edited by Steven S. Gouveia, a diverse collection of essays from leading scholars and experts is brought together to explore the multifaceted nature of Artificial Intelligence (AI). Published by Vernon Press in 2020, the anthology takes readers on an intellectual journey through AI’s potential and limitations. From foundational questions about intelligence to the ethical dilemmas posed by human-machine integration, the book provides an interdisciplinary perspective that bridges cognitive science, philosophy, ethics, and technology. It is both a timely and valuable contribution to understanding the transformative power of AI and the challenges it brings. Keywords: Book Review, Artificial Intelligence JEL Classifications: O31, C63, I23 |
