2025 Vol.1 No.2

Public expenditure on education plays a crucial role in promoting human capital formation and long-term economic development. In decentralized fiscal systems such as India, state governments bear primary responsibility for financing and delivering educational services. However, variations in fiscal capacity, governance structures, and socio-economic conditions may result in significant differen... more

This study investigates the role of financial literacy as a driver of household financial inclusion in Chile, using novel data from the 2024 Household Financial Survey (EFH). Using a probit model with multiple imputations to correct for non-random income non-response, we find that financial literacy is a strong predictor of financial behavior, exhibiting a financial sophistication gradient. Our... more

Public health expenditure in India remains persistently low relative to expanding healthcare needs driven by demographic growth, epidemiological transition, and macroeconomic volatility. Identifying the structural determinants of public health spending is therefore essential for designing fiscally sustainable and equitable health financing strategies. This study examines the long-run and short-... more

Nudges can be defined as any factor that influences an individual’s behaviour in a predictable way, without removing the choices available to them. Over the past decade, nudging has emerged as a prominent behavioural policy tool. Different types of nudges and how they are used to increase sustainable behaviours in individuals are widely explored in contemporary studies. However, a consolidated ... more