Trade Policy Reforms and Indian Exports

The empirical work on relationship between exports and macroeconomic policy and economic growth for the Less Developed Countries has a well-established lineage with most works purporting to confirm the role of exports as an engine of economic growth. In addition to the concern over the impact of exports on economic performance, there has been concern over the causes and impact of export instability. The debate has centred on whether export instability has a positive or negative influence on growth. Since the seminal work by Coppock, export earning instability faced by Less Developed Countries has remained almost as puzzling and controversial as ever. The links between liberalization, exports and economic growth are analytically interesting and really important from a policy standpoint. However, in order to redress the problem there has been a need to identify the causes of export instability and the channels through which it is transmitted to the domestic economies of the Less Developed Countries. During the past four decades, a considerable amount of empirical investigation has been undertaken in this direction. The extent to which changes in export instability affect export earnings has still remained a less explored area. The purpose of the book is to fill this gap. India provides an ideal subject for a case study since it is considered to be an excellent example of an economy, which is mainly dependent on a limited range of primary and manufactured commodities. In recent years the issue has gathered added impetus in the context of globalisation and liberalization. The focus of the book is to examine patter, causes and determinants of growth and instability of India’s Principal Exports. The book also attempts to evaluate the impact of trade policy reforms and that of export of trade policy reforms and that of export growth and instability on economic growth. It is hoped that students, research scholars, teachers and policy reforms and that of export growth and instability on economic growth. It is hoped that students, research scholars, teachers and policy makers would find the book highly useful. The book would also be of great importance to the laymen interested in understanding the changing trends of Indian Economy and particularly the Export Sector.