http://dspace.dtu.ac.in:8080/jspui/handle/repository/16858 2026-07-25T12:55:56Z http://dspace.dtu.ac.in:8080/jspui/handle/repository/23049 Title: THE MODERATING ROLE OF HUMAN CAPITAL ON THE RELATIONSHIP BETWEEN GLOBALIZATION AND GREEN TECHNOLOGY ADOPTION IN EMERGING ECONOMIES Authors: NAYYAR, GULEENA; Kumar, Virender (SUPERVISOR) Abstract: Shifting to clean or green energy technologies is important for emerging economies that aim to separate economic growth from environmental harm. Existing research has already proved that globalization channels—such as economic, social, trade, and financial globalization—have promoted the adoption of green technology. However, a significant gap remains in understanding how a country’s internal human capital influences this international spillover. We used 22 years of yearly data from 25 emerging economies from 2000 to 2021. This paper explores whether local human capital influences the way dimensions of globalization impact the adoption of green technology across emerging economies using a two-step System GMM methodology . The empirical evidence suggests that in the case of economic, social, and trade globalization, they cannot solely impact the adoption of green technology across emerging economies. Conversely, their interaction with local human capital has a robust and significant impact on technology adoption. Among all the dimensions, only financial globalization independently facilitates the adoption of clean energy. Simultaneously, leveraging human capital significantly enhances the link between globalization and green technology, nearly doubling the adoption rate. These findings imply that, without skilled technicians and engineers, imported technologies may be underused or remain unused in warehouses. This highlights that the advantages of green technology transfer heavily rely on having a skilled workforce to implement the transition. To this finding, we propose some policy recommendations for governments in emerging economies: They should step away from the idea of trade liberalization and invest more in bringing in advanced technology, dedicated STEM education, compulsory green training contracts for their corporate employees , and upskilling of labor to overcome the mismatch in skill sets. 2026-05-01T00:00:00Z http://dspace.dtu.ac.in:8080/jspui/handle/repository/23044 Title: INDUSTRIAL AND FISCAL SPILLOVER EFFECTS OF DEFENCE MANUFACTURING UNDER MAKE IN INDIA: AN INTEGRATED ASSESSMENT Authors: YADAV, KOMAL; Banerjee, Saikat (SUPERVISOR) Abstract: This dissertation presents an integrated assessment of the industrial and fiscal spillover effects of defence manufacturing under India's Make in India initiative, covering the period 2004–25. The study is organised around two core objectives that together examine how India's ongoing transition from import-dependence to indigenous defence production has affected both its broader industrial ecosystem and its fiscal position. Objective 1 tracks India's defence indigenisation journey through trend analysis and econometric modelling. Part A documents the dramatic growth in domestic defence production (from ₹17,435 crore in 2004–05 to ₹1,50,590 crore in 2024–25), the partial but incomplete substitution of imports (SIPRI TIV data shows continued dependence for high-technology platforms), and the emergence of a defence export capability (growing to ₹23,622 crore in 2024–25). Part B presents an OLS regression model — ln(MFG GVA) = 1.094 + 0.354·ln(Defence Production) + 0.629·ln(GFCF) + ε — that demonstrates a statistically significant positive spillover from indigenous defence production to manufacturing GVA (R² = 0.991, p < 0.05). A qualitative spillover matrix identifies six channels through which defence manufacturing generates civilian economic benefits: DRDO technology transfers (670 LATOTs signed), HAL’s dual-use aviation infrastructure, BEL’s non-defence commercial revenues (₹2,640 crore, 13.3% of revenue), iDEX startups, MSME vendor ecosystem (~16,000 MSMEs), and Defence Corridor industrial clusters (52,658 jobs committed). Objective 2 examines the fiscal sustainability of defence indigenisation through a three-component framework. Ratio analysis reveals a structural decline in the overall defence fiscal burden (from 10.4% to 7.6% of government expenditure) but documents the internal restructuring that constrains this progress: pension liabilities have risen from 14.5% to 22.7% of the defence budget; the capital-to-revenue ratio has more than halved; and DRDO’s proportionate budget share has remained flat at 3–6%. Regression analysis (R² = 0.417, F p-value = 0.024) confirms that India Page 5 remains in the transition-cost phase of indigenisation, with pension crowding-out the dominant structural pressure (coefficient = −0.080, p = 0.086) and no single policy variable independently determining fiscal outcomes. The integrated analysis reveals a paradox at the heart of India’s defence transformation: industrial spillovers from defence manufacturing are real and growing, but fiscal constraints — rising pension liabilities, stagnant R&D investment, and declining capital-to-revenue ratios — threaten the sustainability of the indigenisation process itself. The study identifies specific policy interventions required to break this constraint and accelerate India’s transition to a fiscally sustainable, industrially generative defence manufacturing base. 2025-06-01T00:00:00Z http://dspace.dtu.ac.in:8080/jspui/handle/repository/23027 Title: IMPACT OF FINTECH ON POVERTY REDUCTION: A STUDY OF SELECTED SOCIOECONOMIC FACTORS WITH SPECIAL REFERENCE TO UPI IN INDIA Authors: CHAUDHARY, MONA; Mookerjee, Amit (SUPERVISOR) Abstract: Digital financial systems are becoming essential tools to improve financial inclusion and alleviate poverty in developing economies. The Unified Payments Interface (UPI) is also India's flagship digital public good that has revolutionised the payment ecosystem through instant, low cost, bank linked payments which are now accessible for all income and generational groups. In FY 2024–25, UPI has emerged as one of the world's largest real-time payment systems with nearly 185.8 billion transactions valued at ₹260.6 lakh crore. However, the evidence from the micro level that there is any relationship between poverty reduction and intensity of UPI use, and how this relationship occurs is still limited. The thesis examines the link between the use of FinTech or UPI, financial inclusion and the multidimensional poverty outcomes of 400 households in the National Capital Territory (NCT) of Delhi. The data were gathered using a structured household survey questionnaire with socioeconomic profile, UPI usage intensity (5 items), financial inclusion (8 items) and multidimensional poverty and living standards (5 items) through stratified random sampling by generational and income cohort. The analysis used was Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and the Structural Equation Modelling (SEM). The following four hypotheses were tested: (H1) UPI usage intensity positively affects financial inclusion; (H2) financial inclusion has a positive effect on multidimensional household poverty; (H3) financial inclusion positively affects household welfare; and (H4) financial inclusion mediates the relationship of UPI and poverty. The measurement model was reliable, with Cronbach's α values of 0.931 for UPI Usage Intensity, and valid with all Average Variance Extracted (AVE) values > 0.50. Support for all four structural hypotheses was found. The usage intensity of UPI had a strong positive effect on financial inclusion (β = 0.744, p<0.001), and financial inclusion significantly reduced multidimensional poverty (β = 0.476, p<0.001). A direct positive effect of the usage v of UPI on welfare was found (β = 0.268, p<0.001), and the indirect path through financial inclusion was also significant (β = 0.354, p<0.001), which confirmed the partial mediation. The results support a usage intensity approach to financial inclusion, showing that the intensity of UPI use yields welfare gains, rather than just access. The thesis ends by proposing policy options such as broadening QR code acceptance in the informal markets, integrating UPI transaction with the formal credit assessment and extending the integration of UPI with Direct Benefit Transfer (DBT) schemes. Technology: UPI, Financial Inclusion, Digital Payments, SEM, Financial Inclusion, Financial Technologies, Village Level Welfare. 2026-05-01T00:00:00Z http://dspace.dtu.ac.in:8080/jspui/handle/repository/22741 Title: AN INVESTIGATION INTO THE IMPACT OF GOLD, CRUDE OIL, BITCOIN, SPX, INTEREST RATES, EXCHANGE RATES, AND GLOBAL EVENTS ON ETHEREUM PRICES Authors: JANGID, ADITYA; KUMAR, ADITYA; KUMAR, AYUSH; TANWAR, RITIK; CHATURVEDI, ANURAG (SUPERVISOR) Abstract: The motivation behind this exposition is to examine the effect of specific factors like gold, raw petroleum, bitcoin, financing cost, money swapping scale, besides worldwide occasions like the Coronavirus pandemic, the 2019 crypto bubble burst, besides the Russia-Ukraine battle on Ethereum costs. The exploration expects to recognize the main macroeconomic variables besides worldwide occasions that influence the cost of Ethereum besides investigate the connections between these elements besides the cost of Ethereum. The review utilizes a blended strategies research approach, including both subjective besides quantitative investigation. The subjective investigation remembers a survey of the pertinent writing for the effect of gold, unrefined petroleum, Bitcoin, SPX, trade rates, loan costs, besides worldwide occasions on digital money costs, besides quantitative examination includes the utilization of factual devices like relapse investigation besides connection examination. The product sees 12 has been utilized to direct the accompanying examination. The review's discoveries recommend that gold, unrefined petroleum, Bitcoin, besides SPX have a positive connection with the cost of Ethereum, while loan fees have a negative relationship. Worldwide occasions like the Coronavirus pandemic, the 2019 crypto bubble burst, besides the Russia-Ukraine war mixed affect Ethereum costs. The review infers that macroeconomic elements besides worldwide occasions essentially influence the cost of Ethereum. The discoveries of this study can be helpful for financial backers, dealers, besides policymaker’s keen on grasping the elements that impact the worth of Ethereum. 2024-06-01T00:00:00Z