India’s Trade Reform: Progress, Impact and Future Strategy

Arvind Panagariya

25 citations0/0 files storedRePEc: Research Papers in Economics

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Global trade and economics Indian Economic and Social Development Globalization, Economics, and Policies

Abstract

I offer a comprehensive analysis of India's trade policy, particularly since 1991, and its impact on the economy. I provide evidence showing that trade liberalization has had a major impact on the quality and availability of goods and on services growth. The evidence on productivity growth in the industrial sector varies across studies, however. I also explain why India lags behind China and what India must do to catch up. The strategy for future liberalization, including a possible U.S.-India free trade area, is discussed.

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References

1994The Myth of Asia's Miracle 1995The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience 2003The Empirics of Growth: An Update 1994New goods, old theory, and the welfare costs of trade restrictions 1996Economic Growth in East Asia: Accumulation versus Assimilation 1994The Sources of Economic Growth of the East Asian Newly Industrialized Countries 1992A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore 2013How Important Is the New Goods Margin in International Trade?

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