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The J-Curve at the industry level: evidence from U.S.-India trade

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  • Mohsen Bahmani-Oskooee

    ()
    (University of Wisconsin-Milwaukee)

  • Rajarshi Mitra

    ()
    (University of Wisconsin-Milwaukee)

Abstract

Previous studies that investigated the impact of real depreciation of the rupee on Indian trade balance used aggregate trade data and provided mixed results. One recent study disaggregated the trade data between India and the rest of the world and used bilateral trade data between India and her seven major trading partners. No significant relation was found between the real exchange rate and the bilateral trade balance between India and her major partner, the U.S. In this paper we disaggregate the trade data between India and the U.S. at industry level and use trade data from 38 industries to show that in most industries while real depreciation of the rupee has short-run effects, the short-run effects last into the long run in almost half of these industries.

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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 29 (2009)
Issue (Month): 2 ()
Pages: 1520-1529

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Handle: RePEc:ebl:ecbull:eb-09-00308

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Keywords: Industry Data; India; U.S.; Trade Balance;

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References

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  1. Paresh Kumar Narayan & Seema Narayan & Biman Chand Prasad & Arti Prasad, 2007. "Export-led growth hypothesis: evidence from Papua New Guinea and Fiji," Journal of Economic Studies, Emerald Group Publishing, vol. 34(4), pages 341-351, September.
  2. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
  3. Bahmani-Oskooee, Mohsen, 1985. "Devaluation and the J-Curve: Some Evidence from LDCs," The Review of Economics and Statistics, MIT Press, vol. 67(3), pages 500-504, August.
  4. Bahmani-Oskooee, Mohsen & Malixi, Margaret, 1992. "More evidence on the J curve from LDCs," Journal of Policy Modeling, Elsevier, vol. 14(5), pages 641-653, October.
  5. Bahmani-Oskooee, Mohsen & Gelan, Abera, 2006. "Black market exchange rate and the productivity bias hypothesis," Economics Letters, Elsevier, vol. 91(2), pages 243-249, May.
  6. James E. Payne, 2008. "Inflation and inflation uncertainty: evidence from the Caribbean region," Journal of Economic Studies, Emerald Group Publishing, vol. 35(6), pages 501-511, November.
  7. Mohsen Bahmani-Oskooee & Zohre Ardalani, 2007. "Is there a J-Curve at the Industry Level?," Economics Bulletin, AccessEcon, vol. 6(26), pages 1-12.
  8. Mohsen Bahmani-Oskooee & Janardhanan Alse, 1994. "Short-Run versus Long-Run Effects of Devaluation: Error-Correction Modeling and Cointegration," Eastern Economic Journal, Eastern Economic Association, vol. 20(4), pages 453-464, Fall.
  9. Glauco De Vita & Khine S. Kyaw, 2008. "Determinants of capital flows to developing countries: a structural VAR analysis," Journal of Economic Studies, Emerald Group Publishing, vol. 35(4), pages 304-322, July.
  10. Bahmani-Oskooee, Mohsen, 1986. "Determinants of international trade flows : The Case of Developing Countries," Journal of Development Economics, Elsevier, vol. 20(1), pages 107-123.
  11. Mohsen Bahmani-Oskooee & Scott W. Hegerty, 2007. "Exchange rate volatility and trade flows: a review article," Journal of Economic Studies, Emerald Group Publishing, vol. 34(3), pages 211-255, September.
  12. Rose, Andrew K., 1990. "Exchange rates and the trade balance : Some evidence from developing countries," Economics Letters, Elsevier, vol. 34(3), pages 271-275, November.
  13. repec:ebl:ecbull:v:6:y:2007:i:26:p:1-12 is not listed on IDEAS
  14. Rose, Andrew K. & Yellen, Janet L., 1989. "Is there a J-curve?," Journal of Monetary Economics, Elsevier, vol. 24(1), pages 53-68, July.
  15. Mohsen Bahmani-Oskooee & Artatrana Ratha, 2004. "The J-Curve: a literature review," Applied Economics, Taylor & Francis Journals, vol. 36(13), pages 1377-1398.
  16. Tuck Cheong Tang, 2007. "Money demand function for Southeast Asian countries: An empirical view from expenditure components," Journal of Economic Studies, Emerald Group Publishing, vol. 34(6), pages 476-496, November.
  17. Mohsen Bahmani-Oskooee & Claire Economidou & Gour Gobinda Goswami, 2005. "How sensitive are Britain's inpayments and outpayments to the value of the British pound," Journal of Economic Studies, Emerald Group Publishing, vol. 32(5), pages 455-467, October.
  18. Swarnjit Arora & Mohsen Bahmani-Oskooee & Gour Goswami, 2003. "Bilateral J-curve between India and her trading partners," Applied Economics, Taylor & Francis Journals, vol. 35(9), pages 1037-1041.
  19. Himarios, Daniel, 1989. "Do Devaluations Improve the Trade Balance? The Evidence Revisited," Economic Inquiry, Western Economic Association International, vol. 27(1), pages 143-68, January.
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Cited by:
  1. Jamilov, Rustam, 2012. "Is There a J-curve for Azerbaijan? Evidence from Industry-Level Analysis," MPRA Paper 39370, University Library of Munich, Germany.

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