Liberalization, Import of Capital Goods, and Industrial Exports: Evidence from Indian Manufacturing Sectors

Q2 Economics, Econometrics and Finance Global Journal of Emerging Market Economies Pub Date : 2020-12-10 DOI:10.1177/2393957520974787
R. Rijesh
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引用次数: 3

Abstract

This article examines the impact of capital goods import on Indian manufacturing exports at the sectoral level. Import of capital goods provides dynamic productivity gains through quality, variety, and cost-efficiency channels that further boost manufacturing exports. Since trade liberalization facilitates this process, we presumed that better access to capital inputs would enhance Indian exports for 15 major manufacturing sectors at the 3-digit level from 1997 to 2016. The panel regression analysis based on fixed effect(s) feasible generalized least squares (FGLS), and ordinary least squares (OLS) indicate that, after controlling for world demand, relative export prices, and in-house research and development (R&D), the capital goods import has a positive and statistically significant impact on the aggregate manufacturing sector. The OLS estimates at the sectoral level further confirm the positive impact across nine major sectors. In general, the engineering sectors such as metals, machinery and transport equipment, and traditional labor-intensive sectors like textiles show positive benefit from these technology imports.
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自由化、资本货物进口和工业出口:来自印度制造业的证据
本文从部门层面考察了资本货物进口对印度制造业出口的影响。资本货物的进口通过质量、品种和成本效益渠道提供了动态的生产力增长,进一步促进了制造业出口。由于贸易自由化促进了这一进程,我们认为,从1997年到2016年,更好地获得资本投入将使印度15个主要制造业部门的出口达到3位数。基于固定效应的可行广义最小二乘法(FGLS)和普通最小二乘法(OLS)的面板回归分析表明,在控制了世界需求、相对出口价格和内部研发后,资本货物进口对总制造业产生了积极且具有统计学意义的影响。OLS在部门层面的估计进一步证实了对九个主要部门的积极影响。总的来说,金属、机械和运输设备等工程部门,以及纺织等传统劳动密集型部门都从这些技术进口中受益。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Global Journal of Emerging Market Economies
Global Journal of Emerging Market Economies Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)
CiteScore
2.70
自引率
0.00%
发文量
27
期刊介绍: Global Journal of Emerging Market Economies is a peer-reviewed journal. The aim of the journal is to provide an international platform for knowledge sharing, discussion and networking on the various aspects related to emerging market economies through publications of original research. It aims to make available basic reference material for policy-makers, business executives and researchers interested in issues of fundamental importance to the economic prospects and performance of emerging market economies. The topics for discussion are related to the following general categories: D. Microeconomics E. Macroeconomics and Monetary Economics F. International Economics G. Financial Economics H. Public Economics I. Health, Education, and Welfare J. Labor and Demographic Economics L. Industrial Organization O. Economic Development, Innovation, Technological Change, and Growth Q. Agricultural and Natural Resource Economics • Environmental and Ecological Economics R. Urban, Rural, Regional, Real Estate, and Transportation Economics Additionally, the journal would be most interested to publish topics related to Global Financial Crisis and the Impact on Emerging Market Economies Economic Development and Inclusive Growth Climate Change and Energy Infrastructure Development and Public Private Partnerships Capital Flows to and from Emerging Market Economies Regional Cooperation Trade and Investment and Development of National and Regional Financial Markets The Belt and Road Initiative.
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