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Book part
Publication date: 26 November 2019

Rajib Bhattacharyya

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

Book part
Publication date: 26 November 2019

Suvayan Neogi and Chandni Dawani

Any country including India which has registered remarkable growth has done so by participating in the economic integration process led by global and regional trade…

Abstract

Any country including India which has registered remarkable growth has done so by participating in the economic integration process led by global and regional trade liberalization. India has an emerging web of cooperation with East Asian countries, especially Association of South East Asian Nations (ASEAN) through the ASEAN–India dialogue process, the bilateral free trade agreement with Malaysia, Singapore, and Thailand and subregional initiatives such as the Mekong–Ganga Cooperation and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC; Yong 2005).

India's free trade agreements and regional trade agreements with countries in this region have not been models of success in their implementation even when there were benefits. The main idea of the formal trade negotiation was to enhance ASEAN-India partnership, specifically in the economic arena. However, India's position in ASEAN's external trade and investment flows has not yet experienced any special momentum. The two-way trade between India and ASEAN is tilted toward ASEAN with the trade gap expanding rapidly.

Thus, to understand India's trade with ASEAN, the chapter would examine India's trade prospects with the ASEAN-5 (Indonesia, Malaysia, Thailand, Philippines, and Vietnam) particularly in merchandise trade. This chapter would identify new products that India can export to the ASEAN, which will increase its share in ASEAN's market. In order to achieve this, the chapter seeks to discuss the detailed microanalysis at HS 6-digit level to capture the trade creation effects based on lower unit value items for estimating product-specific potential exports and imports to/from ASEAN.

Details

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

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Book part
Publication date: 26 November 2019

Abstract

Details

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

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Book part
Publication date: 8 June 2021

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

Book part
Publication date: 26 November 2019

Dipyaman Pal, Chandrima Chakraborty and Arpita Ghose

The present study aims to determine the existence of simultaneous relationship between economic growth, income inequality, fiscal policy, and total trade of the 13…

Abstract

The present study aims to determine the existence of simultaneous relationship between economic growth, income inequality, fiscal policy, and total trade of the 13 emerging market economies as a group for the period 1980–2010. After establishing the existence of simultaneity between the above relationships, a simultaneous panel model has been formulated and estimated incorporating the nonlinearity among the variables as suggested by the existing literature. An inverted U-shape relationship is evident between (1) economic growth, income inequality, and total trade in economic growth equation, (2) income inequality, economic growth, and per capita income in income inequality equation, and (3) total trade and economic growth in total trade equation. Thus, the existence of a two-way nonlinear relationship is highlighted between economic growth, income inequality, and total trade. Apart from these nonlinear relationships, positive and significant effect of (1) gross capital formation, inflation, population growth, human capital, fiscal policy, monetary policy, and domestic credit to private sector on economic growth; (2) civil liabilities on income inequality; (3) gross capital formation and inflation on total trade; (4) total trade, population growth of those aged 65 years and above, political system on fiscal policy is highlighted. Also, negative and significant effect of (1) fiscal policy on income inequality and (2) income inequality on fiscal policy is revealed.

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

Keywords

Book part
Publication date: 8 June 2021

Abhijit Bhattacharya

In the postglobalized world, information and communication technology (ICT) has been considered a key driver of human development. The world is reshaping from…

Abstract

In the postglobalized world, information and communication technology (ICT) has been considered a key driver of human development. The world is reshaping from resource-based economy to knowledge-based economy after rapid growth of ICT. ICT can be considered as an umbrella that incorporates any communication device such as radio, television, cell phones, computer and network hardware, satellite systems etc., and also various services and appliance with them such as video conferencing and distance learning (Akarowhe, 2017). ICT is a technological system that is able to meet the gap of formal communication system and ultimately affects the level of standard of living. Human development can be defined as a process of enlarging people's freedoms and opportunities and improving their well-being. Whereas, human development index (HDI) is a statistical tool used to measure a country's human development based on the health of people, their level of education attainment, and level of income. The present chapter tries to find out the impact of ICT on human development for selected high HDI and medium HDI countries during the period 2001–2018. Applying panel data technique result shows that ICT has a positive and significant impact on human development.

Book part
Publication date: 8 June 2021

Debjani Mitra

Economy consists of several economic activities like production, consumption, distribution etc. Nowadays, a new concept of knowledge economy has been introduced. A…

Abstract

Economy consists of several economic activities like production, consumption, distribution etc. Nowadays, a new concept of knowledge economy has been introduced. A knowledge economy is an economy in which the production of goods and services is based primarily upon knowledge-intensive activities. At this phase, development has two aspects – quantitative and qualitative aspects. In qualitative aspects, concept of human development index (HDI) is included. HDI has been constructed on the basis of education index (EI), health index, and standard of living index. This education implies research and development. New growth theories emphasize the potential for human capital and increase knowledge to provide new sources of economic growth and high levels of productivity. Knowledge is a familiarity, awareness, or understanding of someone or something, such as facts, information, descriptions, or skills, which is acquired through experience or education by perceiving, discovering, or learning.

In this paper, the HDI and EI of the South Asian Association for Regional Cooperation (SAARC) countries, in particular India, are taken into consideration. To study the knowledge economy as well as human capital, Intellectual Property Rights (IPRs) is used. On the other hand, for analyzing the development of any sector of the economy, the role of FDI is important. Whether the role of FDI is still there in transition to knowledge economy or not, relationship between FDI confidence index and EI is taken into consideration. Data are used from the United Nations Conference on Trade and Development (UNCTAD), the United Nations Development Programme (UNDP), World Investment Report, AT Kearney etc.

Book part
Publication date: 8 June 2021

RajatJyoti Sarkar and Moumita Karmakar

Improving food security at the household level is very crucial in India as here many people are suffering from persistent hunger and malnutrition. In India, mounting…

Abstract

Improving food security at the household level is very crucial in India as here many people are suffering from persistent hunger and malnutrition. In India, mounting pressure of population, adverse threats of climate change, fragmented land holding, high input cost etc. are very important which prevent to ensure food security. In India, there is malnutrition in all age groups, especially among children. Problem of low birth weight due to undernutrition of mother during pregnancy and underweight of children is very common in the country. The purchasing power of certain section of the society is so low that they cannot access food at the market price. They need the safety net of food subsidy. In India, food problem in the normative sense still continues to exist as millions of poor suffer from persistent hunger and malnutrition. This is the task to which food security system must address itself in future. There are some important factors which can increase yield growth and domestic supply of food substantially. Among these factors education and knowledge regarding improving farm efficiency, provision of an improved agricultural technology to the farmers, delivery of modern farm inputs, technical know-how, institutional credit to the farmers, and crop diversification are very essential to build a huge stock of food grains in India. Educated and trained people can acquire new skills and technologies required for growing agricultural output to meet the domestic demand.

Book part
Publication date: 8 June 2021

Sujata Mukherjee and Rajat Jyoti Sarkar

Knowledge capital formation through investment in education has been at the center of the recent economic planning and management. Increase in labor productivity and…

Abstract

Knowledge capital formation through investment in education has been at the center of the recent economic planning and management. Increase in labor productivity and technological innovation is the outcome of Research and Development (R&D) which is a part of the higher education system of a country. Therefore, to achieve long-run sustainable growth, an economy should dynamize its higher education framework along with strengthening the primary and secondary education to reflect the changing realities. The study examines the interplay between the percentage of educational expenditure in total expenditure and per capita net state domestic product (NSDP) of eight selected metro city states of India during the period 2005–2006 to 2015–2016. The result shows strong positive impact of educational expenditure on per capita NSDP. Therefore, the study suggests to increase the percentage share of educational expenditure in total expenditure.

Abstract

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

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