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Starting his career with India Today in 1992, Bahal moved to the science and environment magazine Down To Earth, followed by the Financial Express. He was part of the original team that launched Outlook magazine in 1995 and has reported on a range of subjects from environment to travel, sports and defence. He is best-known, though, for his groundbreaking investigation on match-fixing which rocked international cricket. Please RSVP to Rafael Ulate by June 6, 2001.

Philippines Conference Room, Encina Hall, Third Floor, Central Wing

Aniruddha Bahal CEO and Editor Speaker Investigations Tehlka
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Originally published in the International Journal of Finance, volume 12, number 4, 2000. Reprinted with permission. Prior written permission is required for further use of this material. Hard copies of this reprint are available from Shorenstein APARC.

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Working Papers
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Shorenstein APARC and the International Journal of Finance
Authors
Rafiq Dossani
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In the last decade, one of the most admired institutions among industrialists and economic policymakers around the world has been the U.S. venture capital industry. A recent OECD (2000) report identified venture capital as a critical component for the success of entrepreneurial high-technology firms and recommended that all nations consider strategies for encouraging the availability of venture capital. With such admiration and encouragement from prestigious international organizations has come various attempts to create an indigenous venture capital industry. This article examines the efforts to create a venture capital industry in India.

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1
Publication Type
Working Papers
Publication Date
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Shorenstein APARC and the Berkeley Roundtable on the International Economy
Authors
Rafiq Dossani
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Mr. Bhatnagar will focus on the considerations that guide and motivate large companies to seek markets in developing economies and the risks that they face in being early pioneers. He will speak from his experiences in developing projects and working in Asian economies, with special reference to Enron's experience in India in developing and financing the Dabhol Power Project, the largest independent power plant and LNG terminal in India.

The Dabhol Project is a $3 billion investment in an LNG-fired power plant and port infrastructure in India and typifies the challenges large investments face in developing economies such as India. Projects such as Dabhol can help kickstart infrastructure investments in developing economies; investments that these countries sorely need and the talk will focus on the the hurdles the project has faced over the years and overcome and the efforts of a country to balance the vested interests in the economy with the need for new investment.

Sanjay Bhatnagar is currently working on developing and investing in several energy and telecommunication projects in India and the U.S. as a free agent based out of New York. Until recently, Mr. Bhatnagar was the CEO of Enron Broadband Services in the Middle East and Asia in Singapore responsible for developing Enron's telecommunication business in the region. Mr. Bhatnagar received his MBA from Harvard University in 1993, a Master's in Engineering from Stanford University in 1989 and a Bachelor's in Mechanical Engineering with distinction from the Indian Institute of Technology in 1983.

Okimoto Conference Room, Encina Hall, Third Floor, East Wing

Sanjay Bhatnagar Free Agent, Former chairman and CEO, Enron Broadband Services
Seminars
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In the first of Shorenstein APARC's three sessions of 2000-2001 Visiting Fellows research paper presentations, Mr. Kim will discuss "Hyndai Patent Quotations", and Mr. Bodapati will speak about "A Study of Emerging Opportunities in Bioinformatics."

Okimoto Conference Room, Encina Hall, Third Floor, East Wing

Sea-Chung Kim Visiting Fellow, A/PARC Speaker Hyundai, South Korea
Srinivasan Bodapati Visiting Fellow, A/PARC Speaker Reliance Industries, Ltd., India
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India is the fourth largest producer of carbon emissions from fossil fuel combustion. At current growth rates, its emissions will surpass those of the US today by 2022. India's carbon emissions growth can be slowed through improving energy efficiency, a better allocation of fossil fuels, and the increased use of renewable energy or natural gas. Many or most of these options are cost-effective from a societal perspective, but require additional capital and foreign exchange, both of which are issues of concern to India. The ongoing liberalization of the Indian economy, and the greater emphasis on controlling local air pollution bodes well for improving energy efficiency, which will slow the growth of greenhouse gas emissions. Dr. Jayant Sathaye is a Senior Scientist at the Lawrence Berkeley National Laboratory. His research subjects are energy and land use change in the developing countries. Over the past decade, the research has focused on the implications of these two factors on greenhouse gas emissions, and the potential for reducing these emissions. The research is supported by several US government agencies and private foundations. Dr. Sathaye also consults with several United Nations organizations, and the World Bank.

Reuben W. Hills Conference Room

Jayant Sathaye Senior Scientist Speaker Lawrence Berkeley National Laboratory
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This talk presents initial evidence from a large cross-section of household data for rural Indian households on factors which may explain the low levels of education in this economy, particularly for girls. While much of the existing literature emphasizes low returns relative to the high opportunity costs of educating girls, the data suggest that much of the variation in enrollment rates across the economy are explained by village-wide factors, factors which are not restricted to village-level differences in the quantity and quality of schools. Anjini Kochar is Assistant Professor of Economics, Stanford University, Department of Economics. She has a Ph.D. from the University of Chicago, and a M.A. in International Relations, also from the University of Chicago. Her research is on micro-empirical aspects of households behavior in developing economies, focusing in particular on the South Asian economies. Her most recent work has been on the effect of health on savings, and on the intra-household division of incomes.

A/PARC Hills Conference Room, Encina Hall, East Wing, Second floor

Anjini Kochar Assistant Professor Speaker Department of Economics, Stanford University
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The talk will highlight the economic and social development of India and Pakistan and how this has been affected by the high level of military expenditures. It will trace the likely consequences of the emergence of a nuclear race on the two economies arising both from the short-run impact of economic sanctions and the costs in the long-run of increased sophistication of military technology. Before becoming the managing director of the SPDC in Pakistan, Dr. Hafiz Pasha was Advisor to the Prime Minister on Finance and Economic Affairs and Deputy Chairman of the Planning Commission, with status of federal minister. Earlier, he was Vice Chancellor of the University of Karachi, Dean and Director of the Institute of Business Administration, Karachi, and Professor and Director of the Applied Economics Research Centre, University of Karachi. Dr. Pasha's publications cover the fields of public finance, urban and regional economics and economics of social sectors. He has been involved with high-level policy making in Pakistan and has taken on numerous research assignments for international bilateral and multilateral agencies.

A/PARC Hills Conference Room, Encina Hall, East Wing, Second floor

Hafiz Pasha Former Advisor to the Prime Minister of Pakistan, Managing Director of the Social Policy and Development Centre Speaker Pakistan
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