The book contributes to the growing literature pertaining to empirical and policy issues in international trade, foreign capital flows and issues in finance, implications for India and emerging economies related to trade and development interface, and analysis of sector level growth and development in India. Further, the focus is on the policy aspects of these themes and their role in fostering economic development in the context of India and other emerging market economies. The discourse focuses mainly on empirical work and econometric details. The relevant issues are investigated using state of the art techniques such as gravity models, panel co-integration, generalized hyperbolic distributions, SEM, FMOLS and Probit models. In addition, detailed literature survey, discussions on data availability, issues related to statistical estimation techniques and a theoretical background, ensure that each chapter significantly contributes to the ever-growing literature on international trade and capital flows. The readers shall find an engaging dialogue on the crucial role played by policy and the trade-capital flows-growth experience of emerging economies. The book is relevant for those who are interested in contemporary issues in trade, growth and finance as well as for students of advanced econometrics who may benefit from the analytical and econometric exposition. The empirical evidences provided here could serve as ready reference for academicians, researchers and policy makers, particularly in emerging economies facing similar challenges.
Author(s): Pooja Lakhanpal, Jaydeep Mukherjee, Biswajit Nag, Divya Tuteja
Publisher: Springer
Year: 2021
Language: English
Pages: 422
City: Singapore
Foreword
Acknowledgements
Introduction
Background
Recent Developments
Performance of Emerging Economies
Themes and Papers in the Current Volume
References
Contents
Editors and Contributors
About the Editors
Contributors
Part I International Trade: Empirical and Policy Issues
1 Empirical Estimates of Inverted Duty Structure and Effective Rate of Protection—The Case of India
1 Introduction
2 Methodology
3 Collection and Processing of Data
4 Sector-Wise Statistical Results and Analysis
4.1 Crop and Animal Production, Hunting and Related Service Activities
4.2 Forestry and Logging
4.3 Fishing and Aquaculture
4.4 Mining and Quarrying
4.5 Manufacture of Wood and of Products of Wood and Cork, Except Furniture; Manufacture of Articles of Straw and Plaiting Materials
4.6 Manufacture of Paper and Paper Products
4.7 Manufacture of Textiles, Wearing Apparel and Leather Products
4.8 Manufacture of Basic Pharmaceutical Products and Pharmaceutical Preparations
4.9 Manufacture of Computer, Electronic and Optical Products
5 Concluding Remarks
References
2 Does the Past Performance in Home Market Affect Export Participation of New Exporters? Evidence from Indian Firms
1 Introduction
2 Data
3 Comparing New Exports to the Non-exports
3.1 Classification of Firms
3.2 Differential Characteristics of Various Types of Firms
4 Role of Home Market Performance on Export Entry of Firms
4.1 Export Decision Model
5 Results and Discussions
6 Conclusion
References
3 Indo-African Trade: A Gravity Model Approach
1 Introduction
2 Literature Survey
3 Some Stylized Facts of Indo-African Trade
4 Data
4.1 Data Sources
4.2 Variables Employed
4.3 Descriptive Statistics
5 Methodology
6 Empirical Analysis
6.1 The Gravity Model of Overall Trade Between India and Africa
6.2 The Gravity Model of Exports from India to Africa
6.3 The Gravity Model of Imports of India from Africa
7 Summary and Conclusion
References
4 The Validity of J-Curve: India Versus BRICS Countries: A Panel Cointegration Approach
1 Introduction
1.1 Stylized Facts of BRICS
2 Econometric Modeling
2.1 The Bilateral Trade Balance Model
3 Data and Empirical Findings
3.1 Data
3.2 Empirical Results
4 Summary and Conclusion
References
5 Trade Costs Between India and ASEAN: A Gravity Framework
1 Introduction
2 Background
3 Literature Review: Trade Cost Between India and ASEAN
3.1 Tariff Barrier
3.2 Non-Tariff Barrier
4 Theoretical Framework for Trade Cost: Gravity Model
5 Data Treatment and Methodology
5.1 Limitations
5.2 Hypothesis
5.3 Gravity Model Specification
6 Results
7 Conclusion
References
6 Dynamics of ICT Penetration and Trade: Evidence from Major Trading Nations
1 Introduction
2 Linkage Between ICT and Trade: Review of Literature
3 Framework and Methodology
4 Results and Discussions
5 Conclusion
References
Part II Foreign Capital Flows and Issues in Finance
7 Macroeconomic Factors Affecting FDI Inflows into Emerging Economies—A Panel Study
1 Introduction
2 Review of Literature
3 Data and Methods
4 Results and Discussion
5 Conclusion
References
8 The Pattern of Inbound Foreign Direct Investment into India
1 Introduction
2 The Pattern of FDI Inflows in India
3 Empirical Model and Data
4 Empirical Results
5 Conclusion
References
9 Sustainability of India’s Current Account Deficit: Role of Remittance Inflows and Software Services Exports
1 Introduction
2 Review of Literature
3 Description of Basic Data
4 Methodology
4.1 Conceptual Framework
4.2 Theoretical Background
4.3 Formation of Testable Hypothesis
4.4 Technique of Estimation
4.5 Variables and Data Description
5 Estimation Results
5.1 Test Results for Stationarity
5.2 ARDL Estimation Results
6 Conclusion and Policy Implications
Appendix
References
10 Green-Field Versus Merger and Acquisition: Role of FDI in Economic Growth of South Asia
1 Introduction
1.1 Trends in FDI—Global and South Asian Region
2 Literature Review
3 Methodology
3.1 Measure the Impact of Overall FDI
3.2 Measure the Impact of Green-Field Versus M&A FDI
3.3 Data Source and Data Period
4 Empirical Results
4.1 Impact of Overall FDI
4.2 Impact of M&A Versus Green-Field FDI
5 Conclusion
Appendix
References
11 Risk Modeling by Coherent Measure Using Family of Generalized Hyperbolic Distributions
1 Introduction
2 Methodology
3 Results
4 Conclusions
References
12 Impact of Macroeconomic Variables on Stock Market—An Empirical Study
1 Introduction
2 Literature Review
3 Inferences and Research Gap
4 Research Approach
5 Research Design
6 Sample Size and Period
7 Data Source
8 Objective
9 Need of the Study
10 Hypothesis
11 Data Analytical Tools and Techniques
12 Data Analysis and Interpretation.
12.1 Macroeconomic Variables and BSE Sensex
12.2 Macroeconomic Variables and Nifty
13 Limitations
14 Conclusion
References
Part III Trade and Development Interface: Implications for India and Emerging Economies
13 India’s Trade-Sensitive Employment: A Comprehensive Firm-Level Analysis
1 Introduction
2 Trade and Employment Equilibrium Framework: Based on Substitution of Unskilled and Skilled Labour Force
3 Industry’s Outlook on Employment: An Empirical Model
3.1 Methodology Used
3.2 Measuring Capital Stock
3.3 Measuring Total Factor Productivity
4 Performance of Indian Industries
5 Estimation Results
6 Conclusion
Appendix
References
14 Trade Liberalization and Poverty Alleviation in Nigeria: The Complementary Role of Institutions
1 Introduction
2 Literature Review
2.1 Review of Theoretical and Empirical Literature
2.2 Theoretical Framework
3 Methodology
3.1 Data Sources and Description of Variables
3.2 Model Specification and Estimation Procedure
4 Result and Discussion
4.1 Pre-estimation Results
4.2 Analysis of the Inferential Statistics Results
5 Summary and Conclusion
References
15 Trade Liberalization, Growth and Poverty: Empirical Analysis for India
1 Introduction
2 Review of Empirical Literature
3 Analytical Framework and Model
4 Variables Definition and Data Sources
5 Analysis and Discussion of Results
5.1 Panel OLS Regression Results of the Structural Equations
5.2 Panel 2SLS Results of the Structural Equations
5.3 Discussion of Regression Results
6 Conclusion
Appendix 1
References
16 An Analysis of Labour-Intensive Exports to USA: Unlocking India’s Potential
1 Background
2 Objectives of This Paper are as Follows
3 Methodology
4 Use of Indices Across Different Countries and HS Codes
5 India-US Relations—Current Scenario
6 Exports
7 Imports
8 Trade Balance
9 Export Intensity Index (EII)
10 Export Specialization Index (ESI)
11 Revealed Trade Barrier (RTB) Index
12 Export Similarity Index (E SIM)
13 Trade Complementary Index (TCI)
14 Revealed Comparative Index (RCI)
15 Policy Boost Required for Competing This Following Countries
16 India Vis-à-Vis Competitors
17 Exports Declining in Labour-Intensive Sectors
18 Impediments in the India-US Trade Relations
19 Suggestion to Increase Its Competitiveness
Annexure 1
Annexure 2
References
17 UNECE Agreements on Harmonization of Vehicle Standards and India: Empirical Results and Policy Implications
1 Introduction
2 UNECE Forums and India
3 Evidence from India’s Trade Flows
4 Non-tariff Barriers on Indian Auto-Component Exports
5 Tariff Reforms: Smart Simulation Results
6 In Lieu of Conclusion
Annex 1
References
Part IV Analysis of Sector Level Growth and Development in India
18 Is ‘Make in India’ A Success? A Review from the Electronics Sector in India
1 Introduction
2 Make in India and Related Policies
2.1 Policy Measures Adopted by the Government
3 Data Collection and Methodology
4 Results and Analysis
5 Conclusion
Appendix 1
Appendix 2
References
19 Financial Inclusion and Telecommunication in India : A Study on Spillover Effect
1 Introduction
2 Brief Literature Review
3 Objectives
4 Hypothesis
5 Research Methodology
6 Analysis
7 Conclusion and Implication
Appendix 1 (Constructs with Their Respective Indicators)
References
20 Environmental Efficiency and Trade Theory: Evidence from Indian Metal Sector
1 Introduction
2 Literature Review
3 Research Methodology
3.1 Data Sample
3.2 Variables and Their Measurement
3.3 Method
4 Results and Findings
5 Conclusion
References
21 Prospects for Air Services in Indonesia Under Modified General Agreement on Trade in Services: India–China Dimension
1 Introduction
2 Analysis of Air Service Sector
3 India–Indonesia Trade Framework
4 Signing of India-ASEAN Agreement a Boost to This Opportunity
5 India’s Strength
5.1 Revealed Comparative Advantage of Air Transport Services: India’s Upsurge on the Ladder
6 Value Adding in Air Transport Services of Indonesia
7 Chinese Outlook in Indonesia’s Air Transport Services
8 Conclusion
Annexure 1: Input–Output Model
References
