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The Costs of Hesitant and Reluctant Globalization: India

Author

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  • T. N. Srinivasan

    (Yale University, New Haven, Connecticut, USA)

Abstract

The paper reviews the cost and benefits of globalization (i.e. greater integration of national and global economies) from the perspective of India. It argues that India’s hesitant and reluctant globalization had a significant cost in terms of forgone growth, delay in the eradication of poverty and lagging behind other developing economies particularly China. It stresses the importance of the successful conclusion of the Doha Round of Multilateral Trade Negotiations and the role that India can play in them by moving away from its traditional defensive posture to a proactive one of willingness to engage the developed countries in the process of mutually beneficial across the board liberalization of trade in goods and services.

Suggested Citation

  • T. N. Srinivasan, 2003. "The Costs of Hesitant and Reluctant Globalization: India," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 38(2), pages 131-155, July.
    • Handle: RePEc:dse:indecr:v:38:y:2003:i:2:p:131-155
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    More about this item

    Keywords

    Globalization; Outward Orientation; Capital Controls; Doha Round; India’s Economic Reforms;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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