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Demand analysis in general and complete demand systems in particular are the rich areas for the development new tools of applied econometric. The current in demand analysis extends to welfare applications and other diverse area such as demand projection, of true cost of living indices, measurement of poverty, inequalities and food security, calculation of optimal analysis has started in 1960s, hardly any attempt was made in India prior to 1980. The lack of interest in demand studies in India can be attributed to the stability of consumption and non-availability of time-series data on consumer expenditure and consumer price indices. Now with the availability of extensive NSS data on consumer expenditure, Consumer Price Indices (complied by Labour Bureau, Ministry of Labour) and also increasing access to better computing facilities, few researchers are engaged in the in the estimation of complete Demand System in India and their result have been extensively used in planning and policy formulations of the country. But, studies on demand analysis are scanty at regional / state level. Considering such aberrations, this study is the modest attempt to bridge the gap by estimating two popular demand systems viz., LES and AIDS with their variants for exploring the pattern of demand in the backward state liked Orissa and the developing country like India. The various specifications, dimensions and determinants of Complete Demand Systems (CDS) have been examined in this study. The various estimates and elasticities and systematically interpreted along with policy implications which will be of great use to the students, scholars and teachers in general and planners, policy makers and the executives in particular. The study is structured into seven chapters. Chapter-1 is the introduction which deals with the scope, objectives, methodology, consumer price indices and the hypotheses formulated for the study. Chapter-2 provides a brief up to date review of some important national and international studies on different complete demand systems based on cross-section, time-series and pooled time –series of cross-with its duality aspect relevance to our analysis. Chapter-4 deals with the theoretical analysis of different types of utility based, additive and non-additive and the recently developed flexible functional from of complete demand systems. Chapter-5 represents the specification, estimation and empirical analysis of the linear Expenditure System (LES) along with its three variant. Chapter-6 deals with the specification, estimations and analysis of the Almost Ideal Demand Systems (AIDS) along with its variants. Finally, the summary and findings of different chapters along with the policy of implication of demands are presented in Chapter-7.
ISBN - 9788183873253
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Pages : 415
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