Trade Among Newly Industrializing Countries: A Theoretical and Empirical Study

In spite of large export potential, the export prospect from developing countries has suffered setback severely in the developed market economies. This has mainly been on account of tariff and non-tariff barriers unnecessarily and artificially imposed by the developed market economies on enormous products’ interest to developing economies. Interestingly, tariff and non-tariff preferences proposed under various rounds at GATT and UNCTAD conferences for developing countries’ export appeared no more than psychological satisfaction. Thus, room for expanding export from developing into the developed countries was almost closed and, therefore, trade among developing countries themselves was considered as second best solution than to that between developing and the developed countries. The book Trade among Newly Industrializing Countries: A Theoretical and Empirical Study examines the basis of trade cooperation among NICs theoretically as well as empirically in order to enhance trade among themselves through mutual trade cooperation. In particular, it discusses the trade performance on NICs vis-?-vis the developed market economies. Besides, it also examines empirically comparative advantage and competitiveness of NICs and accordingly suggests block-wise intra-NICs trade cooperation. As to what extent internal export efficiency and policy directions are attributable to India’s traditional and non-traditional products also form an important part of the present study. Finally it suggests certain specific policy measures to enhance trade among NICs through trade cooperation. It is hoped that this book would be useful and rewarding for policy formulators, researchers, students and to those keenly interested in understanding the various aspects of trade, development and trade cooperation among developing countries.