Gross Fixed Capital Formation (GFCF) plays a vital role in economic development by enhancing productive capacity and stimulating growth. However, in India, a paradox persists: despite steady increases in GFCF and GDP, unemployment remains high, highlighting a disconnect between macroeconomic growth and labor market outcomes. This study examines the dynamic interrelationships among capital formation, economic... more

Behavioral finance emerged as a response to the limitations of classical financial theory, revealing that investor behavior is shaped by cognitive biases, heuristics, and emotional influences rather than pure rationality. The rapid diffusion of artificial intelligence (AI) across financial systems now challenges this foundation, introducing new dynamics in how decisions are made, information is processed,... more

This study investigates the role of structural transformation in shaping labour-productivity growth across Indian states over the past three decades, applying a decomposition framework that separates within-sector efficiency gains from between-sector labour shifts. Using state-level panel data, the analysis derives a Structural Transformation Index (STI) to quantify the extent to which workers move from low-productivity... more

This paper addresses the longstanding “chicken or egg” philosophical dilemma in the development-security field by analyzing the direction of causality between economic development and national security across African countries, with a particular focus on how this relationship varies by income level. To achieve this, we mobilized a dataset covering 33 African countries over the period... more

The importance of employees’ well-being has grown because it affects productivity, satisfaction, mental health,company reputation, and legislation in developed economies. Previous studies show that psychological safety is vital for innovative decision-making and entrepreneurial behavior. This paper investigates the relationship between employees’ well-being and economic performance in a transition economy. Serbia serves as a case study.... more