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E-raamat: Trade, Investment and Economic Development in Asia: Empirical and policy issues

Edited by (Indian Institute of Foreign Trade, India), Edited by (Indian Institute of Foreign Trade, India)
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In an era of globalization, trade in goods and cross-border services and capital flows are playing a key role in determining the economic growth path of countries. Over the last two decades, the countries have embarked upon several alternate tracks (viz., unilateral, bilateral, regional and multilateral) to liberalize and deepen their linkage with the world economy. The growing trade-investment nexus and the emerging developments lead to deepening of international production networks, rise in cross-border trade in services, sharp rise in regional trade agreements etc.

In this wider canvas, the ongoing debate is, whether it is possible to empirically validate the potential benefits of this deepening trade-investment linkage? The evidence of literature is however ambiguous. This book contributes to the literature by looking at Asian economies, namely, ASEAN, India, SAARC, through empirical analyses. It also looks at EU, Maghreb countries and Pacific Island economics. In line with the evolving trade-investment flows and their role in fostering economic development, the book examines the issues under four broad areas, namely: (1) Trade: Theoretical and Policy Issues, (2) Factor Flows: Impact on Trade and Welfare, (3) Impact of Trade and Factor Flows on Environment and (4) Institutions, International Trade and Policy Issues.

Arvustused

'There is a perceived need to empirically explore the trade-investment nexus in Asia in general and through Indias trade relationship with select Asian and non-Asian partners in particular. In this context, the recent volume edited by Chakraborty and Mukherjee is a well-structured and timely contribution to the literature, which analyzes the emerging issues. [ ...] Overall this book is an interesting read on issues that are topical and have great policy relevance. It is a must-read reference for anyone willing to explore more about trade and investment nexus in the Asian sub-region.' Journal of Social and Administrative Sciences, Vol. 3, Issue 2, June 2016

'This excellent book represents a landmark contribution. While the Asian economies have significantly benefited over the last decade through the deepened production networks and the ongoing regionalization drive, there is still room for harmonizing product standards, reforming domestic regulations and learning from the integration experience of countries at a comparable level of development. The edited volume by Chakraborty and Mukherjee, which includes several country and regional experiences, will appeal to all those interested in empirical and policy research on trade and development interrelationship. Overall, the editors are to be congratulated on producing an excellent volume on a topic not previously adequately covered.' Professor Julien Chaisse, Director, Centre for Financial Regulation and Economic Development, The Chinese University of Hong Kong

'The trade and investment integration in the Asian region and the neighbouring countries over the last two decades has considerably deepened, through unilateral, multilateral as well as regional reforms. The edited volume by Chakraborty and Mukherjee, which includes both theoretical and empirical analysis, is a major attempt to analyse such experiences. The book will be an important reference for researchers focusing on the theme of trade and development.' Atanu Ghoshray, Professor of Economics, Newcastle University Business School

'Debashis Chakraborty and Jaydeep Mukherjee have put together an excellent volume covering trade and investment issues relevant to the most dynamic region of the world. The volume deals with the major contours of the debates on these issues, both in the multilateral and regional contexts, which makes the volume relevant for academia and policymakers alike.' Professor Biswajit Dhar, Centre for Economic Studies and Planning, Jawaharlal Nehru University

Given the economic conditions in most of the Asian countries which still houses a substantial portion of the world poor, the book is thus topical and addresses burning issues in trade and development in the Asian region The varied techniques used in the various chapters in the volume and the content would be useful for researchers, policy makers, teachers and any person keenly following the developments in international trade. Foreign Trade Review, Vol 52, Issue 4, October 2017 'There is a perceived need to empirically explore the trade-investment nexus in Asia in general and through Indias trade relationship with select Asian and non-Asian partners in particular. In this context, the recent volume edited by Chakraborty and Mukherjee is a well-structured and timely contribution to the literature, which analyzes the emerging issues. [ ...] Overall this book is an interesting read on issues that are topical and have great policy relevance. It is a must-read reference for anyone willing to explore more about trade and investment nexus in the Asian sub-region.' Journal of Social and Administrative Sciences, Vol. 3, Issue 2, June 2016

'This excellent book represents a landmark contribution. While the Asian economies have significantly benefited over the last decade through the deepened production networks and the ongoing regionalization drive, there is still room for harmonizing product standards, reforming domestic regulations and learning from the integration experience of countries at a comparable level of development. The edited volume by Chakraborty and Mukherjee, which includes several country and regional experiences, will appeal to all those interested in empirical and policy research on trade and development interrelationship. Overall, the editors are to be congratulated on producing an excellent volume on a topic not previously adequately covered.' Professor Julien Chaisse, Director, Centre for Financial Regulation and Economic Development, The Chinese University of Hong Kong

'The trade and investment integration in the Asian region and the neighbouring countries over the last two decades has considerably deepened, through unilateral, multilateral as well as regional reforms. The edited volume by Chakraborty and Mukherjee, which includes both theoretical and empirical analysis, is a major attempt to analyse such experiences. The book will be an important reference for researchers focusing on the theme of trade and development.' Atanu Ghoshray, Professor of Economics, Newcastle University Business School

'Debashis Chakraborty and Jaydeep Mukherjee have put together an excellent volume covering trade and investment issues relevant to the most dynamic region of the world. The volume deals with the major contours of the debates on these issues, both in the multilateral and regional contexts, which makes the volume relevant for academia and policymakers alike.' Professor Biswajit Dhar, Centre for Economic Studies and Planning, Jawaharlal Nehru University

'The volume edited by Chakraborty and Mukherjee is a timely contribution to the existing literature encompassing empirical analysis on crucial policy issues in trade and investment and their role in promoting economic development, particularly for India and several Asian economies. [ ...] Overall, the book brings out an interesting perspective on contemporary issues of policy relevance. The book provides a diverse picture of the evolving trade-investment scenario for Asian countries in general with a specific focus on India. [ ...] [ It] helps academics, researchers and policymakers to understand and make an evaluation of whether depeer cross-country investment flows and integration would lead to development.' South Asian Economic Journal, 18(1) p112-130

Given the economic conditions in most of the Asian countries which still houses a substantial portion of the world poor, the book is thus topical and addresses burning issues in trade and development in the Asian region The varied techniques used in the various chapters in the volume and the content would be useful for researchers, policy makers, teachers and any person keenly following the developments in international trade. Foreign Trade Review, Vol 52, Issue 4, October 2017

List of figures
x
List of tables
xii
Contributors xv
Foreword xvii
Surajit Mitra
Acknowledgements xx
Abbreviations xxii
1 Editors' introduction: an Asian perspective of global trade and investment dynamics
1(22)
Debashis Chakraborty
Jaydeep Mukherjee
PART I Trade: empirical and policy issues
23(136)
2 India's vertical and horizontal intra-industry trade during post-liberalization period
25(16)
Hemangi K. Kelkar
L. G. Burange
3 Emerging production network between India and ASEAN: an analysis of value-added trade in select industries
41(27)
Biswajit Nag
4 Global crises and Iran--India trade relations: a gravity analysis
68(14)
Seyed Komail Tayebi
Zahra Zamani
5 Determinants of exports of Indian manufacturing: a firm-level analysis
82(17)
Anirban Biswas
6 Services trade policy and trade performance: the case of India
99(20)
Hildegunn Kyvik Nordas
Dorothee Rouzet
7 Accountancy services sector in Asia: case study of India
119(17)
Pralok Gupta
Rupa Chanda
8 The effect of the euro on bilateral trade and exports of EMU economies
136(23)
Mohd Hussain Kunroo
PART II Foreign capital flows: impact on trade and welfare
159(88)
9 Does foreign direct investment form human capital? A study with world input-output data in India
161(14)
Gunja Baranwal
10 Special economic zones and agriculture: an alternative theorisation
175(20)
Soumyatanu Mukherjee
Sameen Zafar
11 Effect of foreign capital inflows on the Indian manufacturing sector: a firm-level study
195(18)
Vaishnavi Sharma
12 The impact of financial integration and external shocks on economic growth: analysis for Maghreb countries
213(21)
Soumia Zenasni
Abderrezzak Benhabib
13 Trends, determinants and challenges of foreign direct investment in emerging markets
234(13)
Pravin Jadhav
Vijaya Katti
Rahul Nath Choudhury
PART III Trade-fiscal policy interface and environmental implications
247(54)
14 Environmental policy instruments for international trade: a review
249(14)
Sacchidananda Mukherjee
Debashis Chakraborty
15 Impact of carbon-based border tax adjustment on trade: a case study of India's export to select EU countries
263(19)
Souvik Bhattacharjya
Nitya Nanda
Saswata Chaudhury
16 How CO2 emissions are influenced by scale, composition and technique effects: panel data analysis results
282(19)
Debashis Chakraborty
Sacchidananda Mukherjee
PART IV Institutions, international trade and policy issues
301(76)
17 WTO and food security in developing countries: unfair provisions
303(13)
Sachin Kumar Sharma
18 Handling non-tariff measures in RTAs: case of ASEAN and SAARC
316(19)
Rajan Sudesh Ratna
19 Pacific integration with Asia
335(15)
Dibyendu Maiti
Sunil Kumar
20 Editors' conclusion: trade and investment issues in Asia - lessons for the future
350(27)
Debashis Chakraborty
Jaydeep Mukherjee
Index 377
Debashis Chakraborty is Assistant Professor at the Indian Institute of Foreign Trade, New Delhi. His research interests include international trade policy and WTO negotiations, environmental sustainability and Indian economic development. He has co-edited the books Environmental Challenges and Governance: diverse perspectives from Asia and Environmental Scenario in India: successes and predicaments, both published by Routledge.

Jaydeep Mukherjee is Assistant Professor at the Indian Institute of Foreign Trade, New Delhi. His research interests include financial-sector and real-sector economy interlinkage, open-economy macroeconomy, macro-economic policy and applied econometrics. He has been involved in more than fifteen research projects commissioned by ministries of Indian government, multilateral bodies and corporate entities.