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India in the World Trading System

Listed author(s):
  • 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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File URL: http://gsbapps.stanford.edu/researchpapers/library/RP1760.pdf
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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
Handle: RePEc:ecl:stabus:1760
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  1. Athanasios Vamvakidis, 1998. "Regional Trade Agreements Versus Broad Liberalization; Which Path Leads to Faster Growth? Time-Series Evidence," IMF Working Papers 98/40, International Monetary Fund.
  2. 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.
  3. Enrico Spolaore & Alberto Alesina & Romain Wacziarg, 2000. "Economic Integration and Political Disintegration," American Economic Review, American Economic Association, vol. 90(5), pages 1276-1296, December.
  4. T. N. Srinivasan, 2002. "Developing Countries and the Multilateral Trading System after Doha," Working Papers 842, Economic Growth Center, Yale University.
  5. Spolaore, Enrico & Wacziarg, Romain, 2002. "Borders and Growth," Research Papers 1761, Stanford University, Graduate School of Business.
  6. Levinsohn, J., 1991. "Testing the Imports-As-Market-Discipline Hypothesis," Working Papers 272, Research Seminar in International Economics, University of Michigan.
  7. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 681-712.
  8. 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.
  9. Wacziarg, Romain & Seddon, Jessica, 2000. "Trade Liberalization and Intersectoral Labor Movements," Research Papers 1652, Stanford University, Graduate School of Business.
  10. Alesina, Alberto & Wacziarg, Romain, 1998. "Openness, country size and government," Journal of Public Economics, Elsevier, vol. 69(3), pages 305-321, September.
  11. Wacziarg, Romain, 2000. "Measuring the Dynamic Gains from Trade," Research Papers 1654, Stanford University, Graduate School of Business.
  12. 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.
  13. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
  14. Alberto F. Ades & Edward L. Glaeser, 1999. "Evidence on Growth, Increasing Returns, and the Extent of the Market," The Quarterly Journal of Economics, Oxford University Press, vol. 114(3), pages 1025-1045.
  15. Baldwin, Richard & Seghezza, Elena, 1996. "Testing for Trade-induced Investment-led Growth," CEPR Discussion Papers 1331, C.E.P.R. Discussion Papers.
  16. Sebastian Edwards, 1991. "Trade Orientation, Distortions and Growth in Developing Countries," NBER Working Papers 3716, National Bureau of Economic Research, Inc.
  17. Dan Ben-David, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 653-679.
  18. T.N. Srinivasan, 2001. "India's Reform of External Sector Policies and Future Multilateral Trade Negotiations," Working Papers 830, Economic Growth Center, Yale University.
  19. Edwards, Sebastian, 1993. "Openness, Trade Liberalization, and Growth in Developing Countries," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1358-1393, September.
  20. Krueger, Anne O, 1998. "Why Trade Liberalisation Is Good for Growth," Economic Journal, Royal Economic Society, vol. 108(450), pages 1513-1522, September.
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