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India in the World Trading System

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  • Wacziarg, Romain

    (Stanford U)

Abstract

This paper examines the position of India in the world trading system. It considers three separate questions: Firstly, how integrated is India in the world trade? Secondly, what gains could India reap from further trade liberalization? Thirdly, what are the best means to achieve greater trade openness? The paper argues that while India's trade barriers have fallen since external sector reforms started in the early 1990s, they remain high relative to most developing countries, in particular China. As a result, the volume and structure of trade in India have experienced a slower evolution away from quasi-autarkic patterns than China's. A survey of existing estimates of the effect of trade openness on economic growth and the quality of policy and governance suggests that India would have much to gain from further integration into the world trading system. Finally, the paper assesses the scope for liberalization through unilateral, regional or multilateral means. The latter is both the most politically feasible path for further liberalization, and the most likely to deliver significant gains from trade. The extent to which India can shape upcoming multilateral negotiations, however, is unclear.

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Bibliographic Info

Paper provided by Stanford University, Graduate School of Business in its series Research Papers with number 1760.

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Date of creation: Jul 2002
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Handle: RePEc:ecl:stabus:1760

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  1. Wacziarg, Romain & Seddon, Jessica, 2000. "Trade Liberalization and Intersectoral Labor Movements," Research Papers, Stanford University, Graduate School of Business 1652, Stanford University, Graduate School of Business.
  2. Rodríguez, Francisco & Rodrik, Dani, 1999. "Trade Policy and Economic Growth: A Sceptic's Guide to the Cross-National Evidence," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2143, C.E.P.R. Discussion Papers.
  3. T.N. Srinivasan, 2001. "India's Reform of External Sector Policies and Future Multilateral Trade Negotiations," Working Papers, Economic Growth Center, Yale University 830, Economic Growth Center, Yale University.
  4. Spolaore, Enrico & Wacziarg, Romain, 2005. "Borders and Growth," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5202, C.E.P.R. Discussion Papers.
  5. Wacziarg, Romain & Spolaore, Enrico & Alesina, Alberto, 2000. "Economic Integration and Political Disintegration," Scholarly Articles 4553029, Harvard University Department of Economics.
  6. Athanasios Vamvakidis, 1998. "Regional Trade Agreements Versus Board Liberalization," IMF Working Papers 98/40, International Monetary Fund.
  7. Seghezza, Elena & Baldwin, Richard E., 2008. "Testing for Trade-Induced Investment-Led Growth," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 61(2-3), pages 507-537.
  8. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, American Economic Association, vol. 89(3), pages 379-399, June.
  9. Edwards, Sebastian, 1992. "Trade orientation, distortions and growth in developing countries," Journal of Development Economics, Elsevier, Elsevier, vol. 39(1), pages 31-57, July.
  10. Alesina, Alberto & Wacziarg, Romain, 1998. "Openness, country size and government," Journal of Public Economics, Elsevier, Elsevier, vol. 69(3), pages 305-321, September.
  11. James Levinsohn, 1991. "Testing the Imports-as-Market-Discipline Hypothesis," NBER Working Papers 3657, National Bureau of Economic Research, Inc.
  12. Edwards, Sebastian, 1993. "Openness, Trade Liberalization, and Growth in Developing Countries," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1358-93, September.
  13. Wacziarg, Romain, 2000. "Measuring the Dynamic Gains from Trade," Research Papers, Stanford University, Graduate School of Business 1654, Stanford University, Graduate School of Business.
  14. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(3), pages 681-712, August.
  15. T. N. Srinivasan, 2002. "Developing Countries and the Multilateral Trading System after Doha," Working Papers, Economic Growth Center, Yale University 842, Economic Growth Center, Yale University.
  16. de Melo, Jaime & Urata, Shujiro, 1986. "The influence of increased foreign competition on industrial concentration and profitability," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 4(3), pages 287-304, September.
  17. Ben-David, Dan, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 108(3), pages 653-79, August.
  18. Alberto F. Ades & Edward L. Glaeser, 1999. "Evidence On Growth, Increasing Returns, And The Extent Of The Market," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 114(3), pages 1025-1045, August.
  19. Harrison, Ann E., 1994. "Productivity, imperfect competition and trade reform : Theory and evidence," Journal of International Economics, Elsevier, Elsevier, vol. 36(1-2), pages 53-73, February.
  20. Krueger, Anne O, 1998. "Why Trade Liberalisation Is Good for Growth," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 108(450), pages 1513-22, September.
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