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India in the World Trading System

  • Wacziarg, Romain

    (Stanford U)

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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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. Ben-David, Dan, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 653-79, August.
  2. de Melo, Jaime & Urata, Shujiro, 1986. "The influence of increased foreign competition on industrial concentration and profitability," International Journal of Industrial Organization, Elsevier, vol. 4(3), pages 287-304, September.
  3. Richard E. Baldwin & Elena Seghezza, 1996. "Testing for Trade-Induced Investment-Led Growth," NBER Working Papers 5416, National Bureau of Economic Research, Inc.
  4. Wacziarg, Romain & Alesina, Alberto, 1998. "Openness, Country Size and Government," Scholarly Articles 4553014, Harvard University Department of Economics.
  5. 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, vol. 114(3), pages 1025-1045, August.
  6. Alberto Alesina & Enrico Spolaore & Romain Wacziarg, 1997. "Economic Integration and Political Disintegration," NBER Working Papers 6163, National Bureau of Economic Research, Inc.
  7. Spolaore, Enrico & Wacziarg, Romain, 2005. "Borders and Growth," CEPR Discussion Papers 5202, C.E.P.R. Discussion Papers.
  8. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August.
  9. Sebastian Edwards, 1991. "Trade Orientation, Distortions and Growth in Developing Countries," NBER Working Papers 3716, National Bureau of Economic Research, Inc.
  10. Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: a Skeptic's Guide to the Cross-National Evidence," Working Papers 9912, Economic Research Forum, revised Apr 1999.
  11. T. N. Srinivasan, 2002. "Developing Countries and the Multilateral Trading System after Doha," Working Papers 842, Economic Growth Center, Yale University.
  12. James Levinsohn, 1991. "Testing the Imports-as-Market-Discipline Hypothesis," NBER Working Papers 3657, National Bureau of Economic Research, Inc.
  13. Harrison, Ann E., 1994. "Productivity, imperfect competition and trade reform : Theory and evidence," Journal of International Economics, Elsevier, vol. 36(1-2), pages 53-73, February.
  14. Athanasios Vamvakidis, 1998. "Regional Trade Agreements Versus Board Liberalization; Which Path Leads to Faster Growth? Time-Series Evidence," IMF Working Papers 98/40, International Monetary Fund.
  15. Wacziarg, Romain & Wallack, Jessica Seddon, 2004. "Trade liberalization and intersectoral labor movements," Journal of International Economics, Elsevier, vol. 64(2), pages 411-439, December.
  16. Wacziarg, Romain, 2000. "Measuring the Dynamic Gains from Trade," Research Papers 1654, Stanford University, Graduate School of Business.
  17. T.N. Srinivasan, 2001. "India's Reform of External Sector Policies and Future Multilateral Trade Negotiations," Working Papers 830, Economic Growth Center, Yale University.
  18. 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.
  19. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
  20. Krueger, Anne O, 1998. "Why Trade Liberalisation Is Good for Growth," Economic Journal, Royal Economic Society, vol. 108(450), pages 1513-22, September.
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