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Rankings of Economics Journals and Departments in India

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Rankings of Economics Journals and Departments in India WP-2010-021 Rankings of Economics Journals and Departments in India Tilak Mukhopadhyay and Subrata Sarkar Indira Gandhi Institute of Development Research, Mumbai October 2010 http://www.igidr.ac.in/pdf/publication/WP-2010-021.pdf Rankings of Economics Journals and Departments in India Tilak Mukhopadhyay and Subrata Sarkar Indira Gandhi Institute of Development Research (IGIDR) General Arun Kumar Vaidya Marg Goregaon (E), Mumbai- 400065, INDIA Email (corresponding author): [email protected] Abstract This paper is the first attempt to rank economics departments of Indian Institutions based on their research output. Two rankings, one based on publications in international journals, and the other based on publications in domestic journals are derived. The rankings based on publications in international journals are obtained using the impact values of 159 journals found in Kalaitzidakis et al. (2003). Rankings based on publications in domestic journals are based on impact values of 20 journals. Since there are no published studies on ranking of domestic journals, we derived the rankings of domestic journals by using the iterative method suggested in Kalaitzidakis et al. (2003). The department rankings are constructed using two approaches namely, the ‘flow approach’ and the ‘stock approach’. Under the ‘flow approach’ the rankings are based on the total output produced by a particular department over a period of time while under the ‘stock approach’ the rankings are based on the publication history of existing faculty members in an institution. From these rankings the trend of research work and the growth of the department of a university are studied. Keywords: Departments,Economics, Journals, Rankings JEL Code: A10, A14 Acknowledgements: The auhtors would like to thank the seminar participants at Indira Gandhi Institute of Development Research. i Introduction Department rankings serve several useful purposes amongst which attracting new faculty, admitting graduate students, and setting up collaborations with other educational institutions are the most important. Department rankings are also used by university administrators to monitor progress and to allocate scarce education funds among competing institutions. Departmental rankings exist in many countries like the US, UK, Canada and Australia. In U.S. the economics departments of different universities are ranked regularly (see Scott and Mitias 1996, and Dusansky and Vernon 1998 for recent such rankings). Recent European studies of this kind include Kirman and Dahl (1994) and Kalaitzidakis, Mamuneas, and Stengos (1999). There have been also rankings of departments in Asia (Jin and Yau 1999), Canada (Lucas 1995), as well as Australia (Towe and Wright 1995). In India there are no such rankings. This study is the first attempt to rank Economics Departments in India based on their Research Output. Research output is measured by total impact points of publications. Rankings are derived separately for publications in International journals and Domestic journals. Domestic journal coverage is important as these journals serve as potential outlets for research work focused on specific national issues. Impact points for publications in International journals are readily available from published studies on journal rankings (Kalaitzidakis et al., 2003). However, no such ranking exists for Domestic journals. Accordingly, the ranking of Domestic journals is derived first which then becomes an input to the Departmental rankings. Coverage of Domestic Journals Twenty domestic journals are covered in the ranking process. The coverage is based on the following two criteria: The journal is listed in the domestic journal database provided by the Institute for Studies in Industrial Development (ISID) © Tilak Mukhopadhyay and Subrata Sarkar, July 2010. IGIDR, Goregaon (E), Mumbai – 400065, INDIA 1 Rankings of Economics Journals and Departments in India Published copies of the journals are available for the period 2000 to 2006 at IGIDR or at the journal archive The ISID database lists 135 journals. However, availability of journals is limited, leading to the limited coverage of 20 journals in the ranking analysis. List of Domestic Journals Covered in the Ranking Analysis Journal Name Journal Code Indian-Economic-and-Social-History-Review 1 Indian-Economic-Journal 2 Indian-Economic-Review 3 Indian-Journal-of-Agricultural-Economics 4 Indian-Journal-of-Gender-Studies 5 Indian-Journal-of-Labour-Economics 6 Journal-of-Quantitative-Economics 7 Margin 8 Reserve-Bank-of-India-Occasional-Papers 9 Agricultural-Economic-Research-Review 10 Artha-Vijnana 11 Decision 12 Indian-Journal-of-Economics 13 Indian-Journal-of-Industrial-Relations 14 Journal-of-the-Indian-Society-of-Agricultural Statistics 15 Man-and-Development 16 Review-of-Development-and-Change 17 Sankhya 18 Vikalpa 20 Journal-of Indian-School-of-Political-Economy 21 Note: The journal with code 19 (Social Change) had to be dropped due to limited availability in the earlier years. © Tilak Mukhopadhyay and Subrata Sarkar, July 2010. IGIDR, Goregaon (E), Mumbai – 400065, INDIA 2 Rankings of Economics Journals and Departments in India Methodology for Ranking Journals The methodology of ranking journals is based on the simple idea of “how frequently” are the articles published in a journal within in a specific period are cited by articles published in other journals in the year following the period in which the articles were published. The methodology starts with a simple count of the citation received by a journal and then progressively adjusts this citation by looking at the “quality” of the citing journal. This methodology was first developed by Liebowitz and Palmer (1984) and then successively used by Laband and Piette in 1994 and by Kalaitzidakis et al. in 2003. The methodology of ranking domestic journals is shown in Appendix A. We have carried out some further analysis like trend of publication, authorship pattern etc. on the data collected for domestic journals. We shall present this work in our future paper. The ranking of International journal is shown in following section to demonstrate the coverage and the impact values. The final ranking of domestic journals is presented below: © Tilak Mukhopadhyay and Subrata Sarkar, July 2010. IGIDR, Goregaon (E), Mumbai – 400065, INDIA 3 Rankings of Economics Journals and Departments in India Ranking of Domestic Journals Journal Journal name Rank Rank Impact Value Impact Value code (Excluding Self Citation) (Including Self Citation) (Excluding Self Citation) (Including Self Citation) 3 Indian-Economic-Review 1 2 100.00 45.59 11 ArthaVijnana 2 6 77.89 12.25 4 Indian-Journal-of-Agricultural-Economics 3 1 75.59 100.00 2 Indian-Economic-Journal 4 8 47.03 10.42 16 Man-and-Development 5 9 33.83 6.95 6 Indian-Journal-of-Labour-Economics 6 5 16.90 31.39 9 Reserve-Bank-of-India-Occasional-Papers 7 13 14.57 1.73 14 Indian-Journal-of-Industrial-Relations 8 10 9.93 6.68 21 Journal-of-Indian-School-of-Political-Economy 9 12 9.82 2.32 20 Vikalpa 10 7 3.26 10.87 10 Agricultural-Economic-Research-Review 11 3 0.00 40.56 15 Journal-of-the-Indian-Society-of-Agricultural-Stat 11 4 0.00 38.84 12 Decision 11 11 0.00 3.64 18 Sankhya 11 14 0.00 0.20 1 Indian-Economic-and-Social-History-Review 11 15 0.00 0.00 5 Indian-Journal-of-Gender-Studies 11 15 0.00 0.00 7 Journal-of-Quantitative-Economics 11 15 0.00 0.00 8 Margin 11 15 0.00 0.00 13 Indian-Journal-of-Economics 11 15 0.00 0.00 17 Review-of-Development-and-Change 11 15 0.00 0.00 © Tilak Mukhopadhyay and Subrata Sarkar, July 2010. IGIDR, Goregaon (E), Mumbai – 400065, INDIA 4 Rankings of Economics Journals and Departments in India Ranking of International Journals Rank* Journal (1) (2) (3) (4) (5) 1 American Economic Review 100.00 100.00 100.00 100.00 100.00 2 Econometrica 88.27 43.79 42.96 71.59 96.78 3 Journal of Political Economy 74.42 48.74 49.40 75.86 65.19 4 Journal of Economic Theory 27.94 37.72 27.08 50.02 58.76 5 Quarterly Journal of Economics 45.98 53.78 52.08 69.83 58.11 6 Journal of Econometrics 27.55 37.44 32.24 36.05 54.91 7 Econometric Theory 4.33 10.36 7.74 17.48 45.85 8 Review of Economic Studies 26.79 19.98 19.64 34.76 45.15 9 Journal of Business and Economic Statistics 10.98 17.65 14.88 20.51 38.41 10 Journal of Monetary Economics 20.67 25.58 24.21 34.14 36.41 11 Games and Economic Behavior 4.58 19.42 16.67 33.61 35.49 12 Journal of Economic Perspectives 17.59 44.07 43.06 37.43 34.26 13 Review of Economics and Statistics 25.9 24.93 24.9 24.44 28.02 14 European Economic Review 13.81 31.28 30.85 23.17 23.76 15 International Economic Review 12.37 14.19 14.19 18.49 23.04 16 Economic Theory 2.93 11.39 10.32 22.11 22.43 17 Journal of Human Resources 12.37 13.45 13.1 17.64 21.34 18 Economic Journal 28.23 36.6 36.31 20.49 20.71 19 Journal of Public Economics 15.97 23.16 19.54 22.42 19.77 20 Journal of Economic Literature 17.00 28.29 28.47 19.73 18.78 21 Economics Letters 10.33 17.09 14.09 11.44 18.73 22 Journal of Applied Econometrics 4.58 9.52 8.53 9.74 16.59 23 Journal of Economic Dynamics and Control 7.07 13.35 10.12 11.4 14.54 24 Journal of Labor Economics 8.15 10.36 9.72 15.00 12.76 25 Journal of Environmental Economi 12.80 23.53 25.00 12.83 11.85 26 Rand Journal of Economics 11.55 13.26 11.01 12.98 11.44 27 Scandinavian Journal of Economics 3.77 12.79 12.50 10.95 10.66 28 Journal of Financial Economics 29.74 16.43 10.22 12.62 9.89 29 Oxford Bulletin of Economics and 6.86 7.19 6.65 4.92 8.35 30 Journal of International Economics 9.31 12.98 11.81 8.87 7.84 31 Journal of Mathematical Economics 4.64 3.73 2.28 4.57 7.64 32 Journal of Economic Behavior and Organization 7.76 10.36 6.55 7.03 7.05 33 Social Choice and Welfare 2.66 5.14 3.17 5.20 6.89 © Tilak Mukhopadhyay and Subrata Sarkar, July 2010.
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