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Globalization and WTO: Impact on India’s economic growth and export

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  • Pandey, Alok Kumar

Abstract

The roots of newly emerging forces of globalization exist in specific economic and political development in the late 1980s and early1990s. From other regulatory measures to correct the prevailing distortions in the Indian economy, government of India introduced Structural Adjustment Programmes (SAPs) in July 1991. The World Trade Organization (WTO) which came into existence on January 1, 1995 with a view to ensure global cooperative trade environment, to raise incomes and to create ample job opportunity for the nations through fair and open trade. In order to estimate growth of Indian exports as well as Gross Domestic Product (GDP) for the period 1985-86 to 2004-05 keeping view the structural reform of 1991 and WTO Settlement in 1995, we have employed OLS technique based on dummy variables. The empirical evidences of the present paper has scanned Gross Domestic Product and export performance of the Indian economy for the period 1985-86 to 2004-05 with an attempt to isolate the impacts of Economic reforms and WTO.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16104.

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Date of creation: 02 Jan 2008
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Handle: RePEc:pra:mprapa:16104

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Keywords: Dummy Variables; Export; GDP; Growth Rate; WTO;

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  1. Fajana, Olufemi, 1979. "Trade and growth: The Nigerian experience," World Development, Elsevier, vol. 7(1), pages 73-78, January.
  2. Ram, Rati, 1985. "Exports and Economic Growth: Some Additional Evidence," Economic Development and Cultural Change, University of Chicago Press, vol. 33(2), pages 415-25, January.
  3. Moschos, Demetrios, 1989. "Export expansion, growth and the level of economic development: An empirical analysis," Journal of Development Economics, Elsevier, vol. 30(1), pages 93-102, January.
  4. Fosu, Augustin Kwasi, 1990. "Exports and economic growth: The African case," World Development, Elsevier, vol. 18(6), pages 831-835, June.
  5. Tyler, William G., 1981. "Growth and export expansion in developing countries : Some empirical evidence," Journal of Development Economics, Elsevier, vol. 9(1), pages 121-130, August.
  6. Michaely, Michael, 1977. "Exports and growth : An empirical investigation," Journal of Development Economics, Elsevier, vol. 4(1), pages 49-53, February.
  7. Salvatore, Dominick, 1983. "A Simultaneous Equations Model of Trade and Development with Dynamic Policy Simulations," Kyklos, Wiley Blackwell, vol. 36(1), pages 66-90.
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