Theorizing International Trade: An Indian Perspective

426 Pages·2017·6.08 MB·English

by  Somesh K. Mathur

Edited by
RSaohmuel sAhro Kr.a Mathur
Sarbjit Singh
THEORIZING
INTERNATIONAL
TRADE
An Indian Perspective
Theorizing International Trade
(cid:129) (cid:129)
Somesh K. Mathur Rahul Arora
Sarbjit Singh
Editors
Theorizing
International Trade
An Indian Perspective
Editors
SomeshK.Mathur RahulArora
IndianInstituteofTechnologyKanpur ConsumerUnity&TrustSociety
Kanpur,India (CUTS)International
Jaipur,India
SarbjitSingh
ConsumerUnity&TrustSociety
(CUTS)International
Jaipur,India
ISBN978-981-10-1758-2 ISBN978-981-10-1759-9 (eBook)
https://doi.org/10.1007/978-981-10-1759-9
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C
ONTENTS
1 Introduction 1
SomeshK.Mathur,RahulArora,andSarbjitSingh
PartI DevelopmentsinTradeTheory,GravityModeling
andItsApplications 7
2 DevelopmentsinInternationalTradeTheoryandGravity
Modelling 9
SomeshK.Mathur,RahulArora,SarbjitSingh,andAmritaRoy
3 RevisitingStrategicTradeTheory 37
IndraniRoyChowdhury
4 AModelofInternationalEntryandExitwithEndogenous
SunkCostsinVerticalMarkets 69
ParthaGangopadhyayandRobertF.Owen
v
vi CONTENTS
5 TradeGrowthAccountinginGoodsandServices:
AnEmpiricalExercise 101
SomeshK.Mathur,SarbjitSingh,GauravDoshi,andAbhishek
Srivastava
6 CalculationofAdValoremEquivalentsofNon-Tariff
Barriers:ACaseStudyof16RCEPCountries 115
SarbjitSinghandRahulArora
7 BilateralTradeCostsandGrowthofTradeinServices:
AComparativeStudyofIndiaandChina 141
AmritaRoyandSomeshK.Mathur
PartII SomeApplicationsofGeneralEquilibriumAnalysis 163
8 TheoreticalExpositionofSomeExAnteApproaches
toAssesstheProposedTradePolicy 165
RahulArora,SarbjitSingh,andSomeshK.Mathur
9 AssessmentofImpactofFood-SafetyMeasuresonExports:
AGravityandCGEAnalysisFocusingonIndia 201
PratimaPandeyandBadriNarayanan
10 GainsfromtheIndia–GCCFreeTradeAgreement:
AGeneralEquilibriumAnalysis 221
NitinAroraandPouriaMohajeri
11 Lebanon’sAccessiontotheWTO:AnExAnte
MacroeconomicImpactAssessment 243
GhadaTabbah
CONTENTS vii
12 GoodsTradeLiberalizationUnderCanada-IndiaFTA
andItsImpact:PartialandGeneralEquilibriumAnalysis 269
SomeshK.Mathur,RahulArora,andMayankTripathi
PartIII OtherRelatedTopics 305
13 EstimatingtheImpactofTechnicalBarrierstoTrade:
TheCaseofPerfumesandToiletWatersinEcuador 307
GonzaloE.SánchezandPatriciaA.Vargas
14 DoesTradeOpennessIncreaseWageElasticityofLabour
DemandinIndianManufacturingIndustries? 325
SimontiniDas,AjitavaRaychaudhuri,andSaikatSinhaRoy
15 AnAnalysisofDynamicSpilloverinIndia’sForex
DerivativesMarkets 351
WasimAhmad,ShirinRais,andRiteshKumarMishra
16 FutureAvenuesinTradePolicyResearch 385
SomeshK.Mathur,RahulArora,andSarbjitSingh
References 389
Index 409
E C
DITORS AND ONTRIBUTORS
Notes on Editors
Rahul Arora is a policy analyst at the Centre for International Trade,
Economics & Environment (CITEE), CUTS International, Jaipur, India.
He received a Ph.D. in International Trade from the Department of Eco-
nomic Sciences, IIT Kanpur, India. His research interests lie in analyzing
internationaltrade,withaparticularfocusonCGEmodellingoffreetrade
agreements, regional economic integration, trade facilitation and trade
policy. He has worked with ARTNeT, UNESCAP, to study the trade
facilitationmeasuresinRCEPcountries.Hehaspublishedvariousresearch
papers and chapters in journals and books of national and international
repute.Hecanbecommunicatedat:[email protected].
Somesh K. Mathur is Professor of Economics at the Department of
EconomicSciences atIIT Kanpur, India. Hehas taughtatDepartment of
Economics,JamiaMilliaIslamia(CentralUniversity),Indiapriortojoining
theIITKanpurin2008.HehasworkedasafellowattheRIS,Ministryof
ExternalAffairs,GovernmentofIndiafortwoyearsandP3Economicaffairs
officerattheUNESCAPofficeinBangkok.Hismainareaofinterestisthe
empirical analysis of international trade and applied econometrics. Prof.
Mathur has written five books, including the present one from Palgrave
Macmillan on theorizing international trade, on subjects varying from
growthconvergence,Trade and ClimateChange, Applied Economics and
Trade Issues. He has published in journals like Review of International
ix
x EDITORSANDCONTRIBUTORS
Economics, World Economy, Geneva Papers on Risk and Insurance, Eco-
nomic and Political Weekly, Journal of Quantitative Economics, Global
EconomyJournal,PublicEnterpriseJournal,JournalofEconomicIntegra-
tion, Journal of Centrum Cathedra, Journal of Industrial Statistics, Korea
and the World Economy, Journal of World Intellectual Property Rights,
ForeignTradeReview,TradeandDevelopmentReview,WorldEconomy,
amongothers.Hecanbecontactedat:[email protected].
Sarbjit Singh is a policy analyst at the Centre for International Trade,
Economics & Environment (CITEE), CUTS International, Jaipur, India.
He obtained his Ph.D. in International Trade from the Department of
EconomicSciences,IITKanpur,India.Hisbroaderareaofresearchliesin
theQuantitativeAnalysisofInternationalTrade.Inparticular,heworkson
GravityModelling,TradeFacilitation,RegionalEconomicIntegrationand
Trade Policy. He has completed a project with ARTNeT, UNESCAP, on
trade facilitation measures in RCEP countries. He has published various
researchpapersandchaptersinjournalsandbooksofnationalandinterna-
tionalrepute.Hecanbecontactedat:[email protected].
Notes on Contributors
NitinArora isAssistantProfessorinEconomics,DepartmentofEconom-
ics, Panjab University, Chandigarh, India. His area of interest is applied
econometricsandeconomicmodeling.HehassupervisedtwoPhDtheses,
andsevenresearchscholarsareworkingwithhimonthesubsidiaryareaof
monetary policy transmission mechanism and international trade. He has
also supervised five MPhil theses in diverse areas of frontier modeling and
published extensively in journals of national and international repute. He
has also published one book entitled Capacity Utilization, Technical Effi-
ciencyandTFPGrowth:TheoryandApplicationstoIndianSugarIndustry.
WasimAhmad isAssistantProfessorattheDepartmentofHumanitiesand
Social Sciences (Economics Discipline), Indian Institute of Technology,
Kanpur.Hisresearchareasaremacroeconomics,macroeconomics,interna-
tional finance, commodity derivatives and energy economics. His detailed
profileisavailableat:https://sites.google.com/site/wasimatiitk/home.
EDITORSANDCONTRIBUTORS xi
IndraniRoyChowdhury iscurrentlyanassociateprofessorattheCentre
for the Study ofRegional Development(CSRD), School ofSocialScience
(SSS),JawaharlalNehruUniversity(JNU).ShehasaMPhil(inEconomics)
from Jadavpur University and PhD (in Economics) from the Centre for
International Trade and Development (CITD), Jawaharlal Nehru Univer-
sity (JNU). Her areas of interest are industrial organization, applied game
theoryandenvironmentaleconomics.Herworkhasbeenpublishedinsome
reputedinternationaljournalslikeInternationalGameTheoryReview,Bul-
letin of Economic Research, International Journal of Industrial Organiza-
tion,EconomicsBulletin,andKeioEconomicStudies.
SimontiniDas isanassistantprofessorinEconomicsatRabindraBharati
University,Kolkata.SheteachesAppliedEconometrics,DevelopmentEco-
nomics,ResourceEconomicsandMathematicalEconomics.Shecompleted
her master’s degree in Economics and PhD from Jadavpur University,
Kolkata.Herareasofresearchinterestareeconometrics,empiricalinterna-
tional trade and development economics. She has published in various
internationaljournals.
Gaurav Doshi is pursuing a Ph.D. in Applied Economics from the
UniversityofWisconsin–Madison.Hecanbecontactedat:gdoshi2@wisc.
edu.
ParthaGangopadhyay iscurrently employed as an associateprofessorof
Economics (equivalent to North American full professorship) at Western
SydneyUniversity.Heisananalyticaleconomistwithexpertiseintheuseof
economic, econometric, econophysics and game-theoretic tools to under-
stand,explainandpredictthedynamicsofindividualandgroupbehaviour.
He is the editor-in-chief of American Journal of Applied Sciences – a
top-quartile journal currently ranked 27th in the SJR rankings of
multidisciplinary journals like Nature and Science. He has worked for six
different universities around the world, from a leading research-focused
think tank in India to one of the largest universities of Australia, and also
attwotop-tieruniversitiesinAustralia.During2001–2002,heheldachair
professorshipineconomicsofsocialresearchinGermanyinauniversitythat
pridesitselftohaveinstitutedthefirstchairineconomicsinhumanhistory.
Since completing doctoral study in 1994, he has authored more than
90 refereed publications including six research books. He acted as a con-
sultant for Asian Development Bank Institute and a senior expert for