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The India Model of Production, Trade and Employment

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Abstract

The Indian Government has introduced significant policy reforms in all respects of the economy since 1991-92. Under the trade policy reforms, both tariff and non tariff barriers on exports and imports have been reduced. The exchange rate has been made flexible subject to market forces. Furthermore, the domestic policy reforms have sought to reduce or eliminate various market imperfections such as administered prices, state monopolies and licensing system in certain sectors of the economy. Finally, the structure of indirect taxes on production along with subsidies has undergone significant changes in the recent years. In an effort to determine the economic effect of these various policy changes, we have constructed a detailed multi-sectoral computable general equilibrium (CGE) model of the Indian economy. The present working paper documents the India CGE Model of Production, Trade and Employment along the economic rationale behind the model as well as the major assumptions and the working of the model. Our model is a single country (versus rest-of-world) multi-sectoral model. The major source of inspiration has been the multi-country structure used in the Michigan Brown-Deardorff-Stern (BDS) CGE Model of World Production and Trade.

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  • Rajesh Chadha & Sanjib Pohit, 1997. "The India Model of Production, Trade and Employment," NCAER Working Papers 64, National Council of Applied Economic Research.
    • Handle: RePEc:nca:ncaerw:64
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    Cited by:

    1. Drusilla K. Brown & Alan V. Deardorff & Robert M. Stern, 2000. "Computational Analysis of the Government of India's Market Opening Initiatives," Discussion Papers Series, Department of Economics, Tufts University 0002, Department of Economics, Tufts University.

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