Agricultural Trade and its Linkages to Macroeconomic Variables in the Indian Economy
This paper articulates that India has very little share in the world trade of agricultural commodities. This paper states that the importance of external trade lies with the linkage it has with the other sectors of the economy like the terms of trade, level of prices, trade balance, etc., which act as a mechanism to enhance growth in the economy. Further, this study examines the relationship between exports and growth in GDP in agriculture and finds that there is a two-way causation between the two, seen through the trends in simple growth rates and also through the results of the Granger Causality Test. An increase in export growth is preceded by a favorable growth in GDP in agriculture. But establishing the causality from exports to growth seems to be difficult, since the variables affecting the growth in agriculture are many. According to this study, the period of early 1990s and mid 1990s was favorable for all, as against the late 1990s, which showed a declining growth in prices, capital formation, exports and the GDP. This study also points out that the terms of trade has shifted in favor of agriculture in the 1990s, which seems to play a greater role in inducing the growth in the agriculture sector as well as in the economy.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): III (2006)
Issue (Month): 1 (January)
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:icf:icfjag:v:03:y:2006:i:1:p:7-21. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (G R K Murty)
If references are entirely missing, you can add them using this form.