Search results

1 – 10 of 15
To view the access options for this content please click here
Book part
Publication date: 9 March 2021

Mainak Bhattacharjee and Dipti Ghosh

The USA–China trade confrontation has become a major concern for all the nations involved in international trade. The retaliatory trade policies taken by both of these…

Abstract

The USA–China trade confrontation has become a major concern for all the nations involved in international trade. The retaliatory trade policies taken by both of these major trading nations have generated widespread impact among the trading nations especially on the developing and emerging nations. In this chapter, the macro-theoretic model is developed to show how a trade war can potentially arise in the wake of economic downturn led by some demand contracting force in one of the countries having trade ties and in turn can cause the recession to leap into global turmoil. This may prompt the countries to be more protective and averse to international exchange, thereby paving way to more intense trade frictions among the nations and stoking international macroeconomic propagation. Thus, the present introspection hints at tariff war among the nations engaged in restricted trade with each other being a plausible consequence of macroeconomic fault having cross-country repercussion implication and that in turn becomes more pronounced in the present tariff war leading to more fierce trade frictions among the countries.

Details

Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

Keywords

To view the access options for this content please click here

Abstract

Details

The Impacts of Monetary Policy in the 21st Century: Perspectives from Emerging Economies
Type: Book
ISBN: 978-1-78973-319-8

To view the access options for this content please click here
Book part
Publication date: 8 June 2021

Mainak Bhattacharjee, Dipti Ghosh and Debashis Mazumdar

This chapter is intended to investigate the ramifications of foreign trade regime on the technological front in relation with the impact of between trade liberalization on…

Abstract

This chapter is intended to investigate the ramifications of foreign trade regime on the technological front in relation with the impact of between trade liberalization on the process of skill formation in dual economy setting and thereby, the wage dynamics facing the skilled and unskilled labor. The ideation toward this end is owed to the seminal literature concerning the connection between free trade and economic dualism, general and the implication of such nexus on skilling process, in particular. Hence, based on the above dispensation, it may be possible to analyze the consequence of free trade on knowledge economy (wherein, the knowledge essentially purports to technical skill, proficiency in various aspects of work and perhaps, to some extent, the case of innovation) and additionally, what it impinges on welfare and economic development for less developed countries. The theoretical underpinning of the baseline model is based basically on the dualistic structure of the economy with regional specifications of the factors. In this framework, it has been examined that under the condition liberal trade policy in a less developed country, featured by reduced tariff, how it makes up for the formation of knowledge capital in the presence of technology-intensive export sector employed skilled and, in such process, if wage inequality gets exacerbated or otherwise. This is further drawn to investigating the implicit change in the propensity of rural–urban migration of unskilled labor, consequent upon the escalation openness to foreign trade; in what holds out significantly as regards the persistence of economic dualism, in general and balanced growth phenomenon between urban and rural sectors, in particular.

Details

Comparative Advantage in the Knowledge Economy
Type: Book
ISBN: 978-1-80071-040-5

Keywords

To view the access options for this content please click here
Book part
Publication date: 26 November 2019

Mainak Bhattacharjee, Jayeeta Roy Chowdhury and Dipti Ghosh

The emerging market economies, in particular, have become victim to the laundering activities which have damaged investment potentials, undermined governance, fostered…

Abstract

The emerging market economies, in particular, have become victim to the laundering activities which have damaged investment potentials, undermined governance, fostered crime and corruption, and decreased tax revenues. In this chapter, we construct a macrotheoretic framework to analyze money laundering in the form of tax evasion by individuals in an economy in the events of financial autarky and free trade. In other words, our theoretical model allows us to examine if movement from autarky to a state of financial integration whets the degree of financial malpractice like money laundering.

Details

The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

Keywords

To view the access options for this content please click here
Book part
Publication date: 13 May 2019

Arundhati Mukherjee, Somdatta Goswami and Mainak Bhattacharjee

This chapter begins with a comprehensive review of the study on terrorism that has emerged in the last two decades and the consequences of terrorism in terms of economic…

Abstract

This chapter begins with a comprehensive review of the study on terrorism that has emerged in the last two decades and the consequences of terrorism in terms of economic theory. It aims to highlight the potential influence of terrorism on the distribution of military expenditure among different countries across the world. Moreover, the chapter seeks to shed light on the evolution of economic theories and models for explaining terrorism in a strategic environment to indicate the research gap in this field and presents an attempt to measure the impact of terrorism on the economic growth by considering the connection between the intensity of military expenditure made by a country and the security it faces as impinges by terrorist activities.

Details

The Impact of Global Terrorism on Economic and Political Development
Type: Book
ISBN: 978-1-78769-919-9

Keywords

To view the access options for this content please click here
Book part
Publication date: 9 March 2021

Abstract

Details

Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

To view the access options for this content please click here
Book part
Publication date: 8 June 2021

Mainak Bhattacharjee and Sanghita Ghosh

The ability to produce knowledge is the key currency in the current and future global economy. Today, technology is one of the important sources of economic growth. The…

Abstract

The ability to produce knowledge is the key currency in the current and future global economy. Today, technology is one of the important sources of economic growth. The impact of introduction of technology is observed in every field and one such field is knowledge economy. This paper explores the potential consequences of technological transition in the knowledge economy brought about by the introduction of virtual system backed by Internet and software innovations, so to speak in terms of skill augmentation, wage inequality, and so forth, to highlight the overall impact on welfare. In this framework, this paper develops a model on small open economy with three sectors (modern export sector, import competing sector, and skill-generating sector) and three factors of production namely, skilled labor (the output of S), unskilled labor, and capital. It is found that the impact of technological transition on each sector is ambiguous but the direction of welfare change is unambiguous. In this study, our objective is to find out the possible impacts of such disruptive technology on the higher education sector of India and also to locate the development dynamics of such an outcome along with a feasible roadmap for overcoming the trade-off between future economic growths of a sound knowledge economy with social justice.

Details

Comparative Advantage in the Knowledge Economy
Type: Book
ISBN: 978-1-80071-040-5

Keywords

To view the access options for this content please click here
Book part
Publication date: 26 November 2019

Debashis Mazumdar, Mainak Bhattacharjee and Jayeeta Roy Chowdhury

This chapter seeks to analyze the development across the length and breadth of the Indian financial system in the post-reform period, based on the “flow of funds” accounts…

Abstract

This chapter seeks to analyze the development across the length and breadth of the Indian financial system in the post-reform period, based on the “flow of funds” accounts estimates by RBI. Besides, this chapter also analyzes the integration of the Indian capital market with the stock markets of the United States, the United Kingdom, Japan, China, Hong Kong, and Singapore using the movements in their stock prices during 1998–2015. Moreover, this chapter is intended for examining the potential implication financial integration, particularly the financial openness of India, on volatility spillover and financial contagion in as much as these two issues have emphatic significance in the determination of the relevant policy roadmap. Our findings broadly confirms the expectations by revealing significantly positive correlations in stock prices, in returns to investments in stock markets, and in mean returns and risk. The integration of the capital markets is also manifested in the cyclical fluctuations of the stock price indices, signifying the underlying sensitivity to random shocks.

Details

The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

Keywords

Abstract

Details

The Impacts of Monetary Policy in the 21st Century: Perspectives from Emerging Economies
Type: Book
ISBN: 978-1-78973-319-8

To view the access options for this content please click here
Book part
Publication date: 9 March 2021

Mainak Bhattacharjee and Debashis Mazumder

The chapter attempts to develop a micro-theoretic model to explain the genesis of trade war in light of the behavioral interdependence of two countries connected through…

Abstract

The chapter attempts to develop a micro-theoretic model to explain the genesis of trade war in light of the behavioral interdependence of two countries connected through international trade and, thereof, it analyses its welfare implication with respect to the countries at feud. In this regard, it is important to mention that the evolution of trade war herein has been articulated in terms of the retaliation of one country as reaction to the one time-tariff imposition by the other. The fundamental takeaways are twofold. First, how evolution of tariff war can be articulated in light two-stage game governments are coming to decide on tariff policy a priori, followed by second-stage featuring firms being decisive on the production level and then the games repeats where governments again come up to introspects if the a priori tariff rates are compatible with welfare optimization to be followed up by firms. Second, the nature of the ultimate fallout of the tariff retaliation will depend crucially on how welfare function of each country is paced with the country’s tariff policy.

Details

Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

Keywords

1 – 10 of 15