Pub Date : 2023-04-01DOI: 10.1177/26316846231164202
P. De
{"title":"Goto, Kenta, Tamaki Endo and Asei Ito (eds), The Asian Economy: Contemporary Issues and Challenges. Routledge: Abingdon and New York, 2021, 290 pp., ISBN 9780367203719.","authors":"P. De","doi":"10.1177/26316846231164202","DOIUrl":"https://doi.org/10.1177/26316846231164202","url":null,"abstract":"","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116862390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-12DOI: 10.1177/26316846221147583
S. Chakrabartty
The measures of revealed comparative advantage (RCA) with multiplicative specification and dependency on world trade of export items are incomparable across time and places. Intra-country comparisons by Balassa RCA and its variants are problematic, calling for a method of aggregating RCA of all sectors of a country reflecting the overall export potential of the country. Overall RCA of a country ( R C A t i ) is necessary to know the country’s RCA of all the export items as a function of trade flows relative to a point of reference, that is, a base period. The article proposes geometric aggregation of the ratio of RCA at the current period over the base period for each sector to get R C A t i by a continuous, monotonically increasing function of time, satisfying time-reversal test, formation of chain indices and generates time-series data. Progress path of R C A t i and similar path of jth sector may help policymakers to decide on appropriate action for the economy and individual sectors. Distribution of R C A t i will approach lognormal. Knowledge of distributions of R C A t i for different countries helps to have a better inter-country comparison. The similarity of two RCA curves may be evaluated by similarity measures. An empirical illustration of the proposed method is given. JEL Codes: C43, F14
具有乘法规格和对世界贸易依存度的显性比较优势(RCA)指标具有跨时间、跨地域的可比性。Balassa RCA及其变体在国家内部的比较是有问题的，需要一种方法来汇总一国所有部门的RCA，以反映该国的总体出口潜力。一个国家的总体RCA (RCA)是必要的，以了解该国的所有出口项目的RCA作为相对于一个参考点，即基期的贸易流量的函数。本文提出对各扇区当期RCA与基期RCA之比进行几何聚合，通过时间的连续单调递增函数得到RCA - A - t - i，满足时间反转检验，形成链式指数，生成时间序列数据。第三产业的发展路径和第三产业的类似路径可以帮助决策者决定针对经济和各个产业的适当行动。rca的分布会趋于对数正态。了解不同国家的R - C - A - t - i分布有助于更好地进行国家间比较。两条RCA曲线的相似度可以用相似度度量来评价。最后给出了该方法的实例说明。JEL代码:C43, F14
{"title":"Constructing Aggregated Revealed Comparative Advantage Index of a Country","authors":"S. Chakrabartty","doi":"10.1177/26316846221147583","DOIUrl":"https://doi.org/10.1177/26316846221147583","url":null,"abstract":"The measures of revealed comparative advantage (RCA) with multiplicative specification and dependency on world trade of export items are incomparable across time and places. Intra-country comparisons by Balassa RCA and its variants are problematic, calling for a method of aggregating RCA of all sectors of a country reflecting the overall export potential of the country. Overall RCA of a country ( R C A t i ) is necessary to know the country’s RCA of all the export items as a function of trade flows relative to a point of reference, that is, a base period. The article proposes geometric aggregation of the ratio of RCA at the current period over the base period for each sector to get R C A t i by a continuous, monotonically increasing function of time, satisfying time-reversal test, formation of chain indices and generates time-series data. Progress path of R C A t i and similar path of jth sector may help policymakers to decide on appropriate action for the economy and individual sectors. Distribution of R C A t i will approach lognormal. Knowledge of distributions of R C A t i for different countries helps to have a better inter-country comparison. The similarity of two RCA curves may be evaluated by similarity measures. An empirical illustration of the proposed method is given. JEL Codes: C43, F14","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116826220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-30DOI: 10.1177/26316846221150591
S. Bharti, Syeedun Nisa
This article scrutinises the repercussion of the regional trade agreements on Indian exports. The gravity model has been used for the analysis of two decades of panel data from 30 countries, spanning from 2001 to 2019. The gravity equation is estimated by the Ordinary Least Square (OLS) and Poisson pseudo-maximum likelihood (PPML) techniques using panel data regression. The PPML approach addresses the heteroskedasticity bias that is typically present in the OLS method. The study has revealed that the PPML results are more encouraging than those obtained based on the traditional OLS approach. According to the empirical findings, India’s trading partners in South Asia benefit more from its economic integration than India does. However, the measurement of country-specific degrees of globalisation has a negligible effect on fostering trade across select nations. JEL Codes: C1, F1, F2, F6
{"title":"Evaluation of the Impact of Regional Trade Agreements on Indian Exports","authors":"S. Bharti, Syeedun Nisa","doi":"10.1177/26316846221150591","DOIUrl":"https://doi.org/10.1177/26316846221150591","url":null,"abstract":"This article scrutinises the repercussion of the regional trade agreements on Indian exports. The gravity model has been used for the analysis of two decades of panel data from 30 countries, spanning from 2001 to 2019. The gravity equation is estimated by the Ordinary Least Square (OLS) and Poisson pseudo-maximum likelihood (PPML) techniques using panel data regression. The PPML approach addresses the heteroskedasticity bias that is typically present in the OLS method. The study has revealed that the PPML results are more encouraging than those obtained based on the traditional OLS approach. According to the empirical findings, India’s trading partners in South Asia benefit more from its economic integration than India does. However, the measurement of country-specific degrees of globalisation has a negligible effect on fostering trade across select nations. JEL Codes: C1, F1, F2, F6","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128780062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-30DOI: 10.1177/26316846221147581
Biswajit Maitra, Moutushi Chakraborty
This study revisits trade–growth dynamics in India augmenting the role of human capital for the liberalised trade regime. The autoregressive distributed lag-bounds testing approach finds cointegrating relation of income with the different combinations of export, import, exchange rate, trade openness, education and health dimension of human capital. The long-run and short-run dynamics of such relations confirm that both export and import enhance income growth that testifies export-led and import-led growth premises. Trade openness proves detrimental to growth, while human capital spurs growth. However, the growth gains from the human capital vary across alternative measures of human capital. A battery of diagnostic tests corroborates these inferences robustly. Policy manifestation for trade promotion might be beneficial for higher economic growth in India. JEL Codes: F43, F13, F14, O24
{"title":"Foreign Trade, Human Capital and Economic Growth in India under the Liberalised Trade Regime","authors":"Biswajit Maitra, Moutushi Chakraborty","doi":"10.1177/26316846221147581","DOIUrl":"https://doi.org/10.1177/26316846221147581","url":null,"abstract":"This study revisits trade–growth dynamics in India augmenting the role of human capital for the liberalised trade regime. The autoregressive distributed lag-bounds testing approach finds cointegrating relation of income with the different combinations of export, import, exchange rate, trade openness, education and health dimension of human capital. The long-run and short-run dynamics of such relations confirm that both export and import enhance income growth that testifies export-led and import-led growth premises. Trade openness proves detrimental to growth, while human capital spurs growth. However, the growth gains from the human capital vary across alternative measures of human capital. A battery of diagnostic tests corroborates these inferences robustly. Policy manifestation for trade promotion might be beneficial for higher economic growth in India. JEL Codes: F43, F13, F14, O24","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"192 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125351615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-30DOI: 10.1177/26316846221147577
Sharadendu Sharma, R. Arora
Global value chains (GVCs) have significantly changed the world trade scenario. Many developed countries gained benefits through production fragmentation, and it has worked as hope for the developing world. India is also one of the participants but its share in global GVC space is very limited. The recent pandemic comes with a lot of opportunities for India to emerge as a new GVC hub in the Asia-Pacific region. This requires the study of factors determining the extent of India’s participation in GVCs. The present article is an attempt in this direction wherein various factors determining the forward and backward participation levels are identified. At a macro level, the study found the positive role of technology advancement, domestic capital and industrial capacity in promoting the level of participation in GVCs, while the role of net FDI inflows is found to be negative. This highlights the requirement for conducive policies to reap the maximum benefits associated with foreign capital. India is already observing the benefits and growing, but still, it has to cover a long path. The time has come to make an image of the brand India in the world and reap maximum benefits from the GVC participation. JEL Codes: F14, F40, O24
{"title":"Macroeconomic Determinants of India’s Participation in Global Value Chains: An Empirical Evidence","authors":"Sharadendu Sharma, R. Arora","doi":"10.1177/26316846221147577","DOIUrl":"https://doi.org/10.1177/26316846221147577","url":null,"abstract":"Global value chains (GVCs) have significantly changed the world trade scenario. Many developed countries gained benefits through production fragmentation, and it has worked as hope for the developing world. India is also one of the participants but its share in global GVC space is very limited. The recent pandemic comes with a lot of opportunities for India to emerge as a new GVC hub in the Asia-Pacific region. This requires the study of factors determining the extent of India’s participation in GVCs. The present article is an attempt in this direction wherein various factors determining the forward and backward participation levels are identified. At a macro level, the study found the positive role of technology advancement, domestic capital and industrial capacity in promoting the level of participation in GVCs, while the role of net FDI inflows is found to be negative. This highlights the requirement for conducive policies to reap the maximum benefits associated with foreign capital. India is already observing the benefits and growing, but still, it has to cover a long path. The time has come to make an image of the brand India in the world and reap maximum benefits from the GVC participation. JEL Codes: F14, F40, O24","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114380405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-26DOI: 10.1177/26316846221150989
Vanshika Jain
Summing up, the book provides insights for policymakers in emerging market economies in Asia and the Pacific. The study will be beneficial in developing an efficient revenue system, which will pave the path for steady and sustainable economic growth in the region. The chapters have extensively covered the dynamics of digital taxation of various countries in Asia and the Pacific including India, Bangladesh, Korea, Indonesia and China. It can be hoped that this study will inform and initiate intense policy debates for tackling the challenges of the digital economy in Asia and the Pacific.
{"title":"Economic Research Institute for ASEAN and East Asia (ERIA), The Comprehensive Asia Development Plan 3.0 (CADP 3.0): Towards an Integrated, Innovative, Inclusive, and Sustainable Economy. ERIA: Jakarta, 2022, 582 pp., ISBN: 978-6025-460-42-5.","authors":"Vanshika Jain","doi":"10.1177/26316846221150989","DOIUrl":"https://doi.org/10.1177/26316846221150989","url":null,"abstract":"Summing up, the book provides insights for policymakers in emerging market economies in Asia and the Pacific. The study will be beneficial in developing an efficient revenue system, which will pave the path for steady and sustainable economic growth in the region. The chapters have extensively covered the dynamics of digital taxation of various countries in Asia and the Pacific including India, Bangladesh, Korea, Indonesia and China. It can be hoped that this study will inform and initiate intense policy debates for tackling the challenges of the digital economy in Asia and the Pacific.","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"259 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116417179","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-28DOI: 10.1177/26316846221128617
P. De
international organizations, activists, local community, etc., on the degree of caution required in the sensitive domain of the blue economy. The chapters convincingly touch upon both core and related sectors of the marine economy. The cross-country comparisons are instrumental in bringing out planning, policy and institutional asymmetries across economies. The book also opens up the scope for future research by highlighting the ocean-related problem areas that require constant monitoring, creative solutions, institutionalised collaboration and above all a holistic and interdisciplinary approach
{"title":"Amita Batra, India’s Trade Policy in the 21st Century, Routledge, 2022, X+180 pp., £120 (hardback), £33.29 (eBook), ISBN 9780367752231.","authors":"P. De","doi":"10.1177/26316846221128617","DOIUrl":"https://doi.org/10.1177/26316846221128617","url":null,"abstract":"international organizations, activists, local community, etc., on the degree of caution required in the sensitive domain of the blue economy. The chapters convincingly touch upon both core and related sectors of the marine economy. The cross-country comparisons are instrumental in bringing out planning, policy and institutional asymmetries across economies. The book also opens up the scope for future research by highlighting the ocean-related problem areas that require constant monitoring, creative solutions, institutionalised collaboration and above all a holistic and interdisciplinary approach","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132850771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-01DOI: 10.1177/26316846221107416
M. Nayyar
{"title":"Asian Development Bank, Asian Economic Integration Report 2022: Advancing Digital Services Trade in Asia and the Pacific, Asian Development Bank, 2022, 300 pp., $51 (Paperback). ISBN: 978-92-9269-361-9 (print), ISBN: 978-92-9269-362-6 (electronic), 978-92-9269-363-3 (eBook).","authors":"M. Nayyar","doi":"10.1177/26316846221107416","DOIUrl":"https://doi.org/10.1177/26316846221107416","url":null,"abstract":"","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124980708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-01DOI: 10.1177/26316846221112228
Md Gyasuddin Ansari, Rudra Sensarma
Authors examine the role of economic freedom in explaining the spillover of foreign direct investment (FDI) on economic growth in Association of Southeast Asian Nations (ASEAN) countries. Authors extend the analysis to the roles of human capital and financial institutions in the FDI–growth nexus. Authors employ two-stage least squares regression to analyse a panel data set of ASEAN countries over 26 years. They find that the positive relationship between FDI and economic growth can be explained by higher economic freedom along with improvements in the quality of human capital and financial institutions. They also provide the policy implications of our findings. JEL Classification: F20; F21; O40
{"title":"Does Economic Freedom Influence the FDI–Growth Nexus in ASEAN Economies?","authors":"Md Gyasuddin Ansari, Rudra Sensarma","doi":"10.1177/26316846221112228","DOIUrl":"https://doi.org/10.1177/26316846221112228","url":null,"abstract":"Authors examine the role of economic freedom in explaining the spillover of foreign direct investment (FDI) on economic growth in Association of Southeast Asian Nations (ASEAN) countries. Authors extend the analysis to the roles of human capital and financial institutions in the FDI–growth nexus. Authors employ two-stage least squares regression to analyse a panel data set of ASEAN countries over 26 years. They find that the positive relationship between FDI and economic growth can be explained by higher economic freedom along with improvements in the quality of human capital and financial institutions. They also provide the policy implications of our findings. JEL Classification: F20; F21; O40","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127123327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-01DOI: 10.1177/26316846221114504
Archana Srivastava, R. Mathur, S. Mathur
The study uses ex-ante simulations of the general equilibrium model to analyze deeper integration and forward looking liberalization measures undertaken by the ASEAN and India to assess the Indo-ASEAN trade in its present dispensation and its futuristic goals. In the first scenario, complete trade liberalisation takes place including both tariff and non-tariff barriers among the ASEAN countries itself. Although the tariffs are quite low among the ASEAN countries, yet there is need to go for complete tariff and non-tariff liberalisation as it constitutes an important part of the trade barriers. The deeper integration measures across ASEAN and India include not only tariff and non-tariff liberalisation but also movement of capital, introduction to output-oriented technologies in sectors like transport and communication, light manufacturing and meat, and meat products with input oriented technological progress in land and natural resources. We use the GTAP-10 to analyse the same and the results reveal huge gains for India and ASEAN nations in the deeper integration simulation scenario. If ASEAN nations liberalize unilaterally on its own as a standalone liberalization, then there would be negative welfare returns for India while it would turn positive for India in case of deeper integration. JEL Classification: F13, F15
{"title":"Evaluation of ASEAN–India Free Trade Regime: A General Equilibrium Approach","authors":"Archana Srivastava, R. Mathur, S. Mathur","doi":"10.1177/26316846221114504","DOIUrl":"https://doi.org/10.1177/26316846221114504","url":null,"abstract":"The study uses ex-ante simulations of the general equilibrium model to analyze deeper integration and forward looking liberalization measures undertaken by the ASEAN and India to assess the Indo-ASEAN trade in its present dispensation and its futuristic goals. In the first scenario, complete trade liberalisation takes place including both tariff and non-tariff barriers among the ASEAN countries itself. Although the tariffs are quite low among the ASEAN countries, yet there is need to go for complete tariff and non-tariff liberalisation as it constitutes an important part of the trade barriers. The deeper integration measures across ASEAN and India include not only tariff and non-tariff liberalisation but also movement of capital, introduction to output-oriented technologies in sectors like transport and communication, light manufacturing and meat, and meat products with input oriented technological progress in land and natural resources. We use the GTAP-10 to analyse the same and the results reveal huge gains for India and ASEAN nations in the deeper integration simulation scenario. If ASEAN nations liberalize unilaterally on its own as a standalone liberalization, then there would be negative welfare returns for India while it would turn positive for India in case of deeper integration. JEL Classification: F13, F15","PeriodicalId":188097,"journal":{"name":"Journal of Asian Economic Integration","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132464497","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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