Pub Date : 2019-09-01DOI: 10.1177/1391561419868416
S. Sundararaman
{"title":"Book Review: Sukh Deo Muni and Rahul Mishra, India’s Eastward Engagement: From Antiquity to Act East Policy","authors":"S. Sundararaman","doi":"10.1177/1391561419868416","DOIUrl":"https://doi.org/10.1177/1391561419868416","url":null,"abstract":"","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84766023","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 : 2019-09-01DOI: 10.1177/1391561419868417
Anusree Paul
NTMs may be legitimate measures addressing market or coordination failures and achieving a wide range of policy objectives from consumers’ safety and health to environment purposes. However, they can hurt competitiveness and unnecessarily raise the cost of living. Restricted access to key inputs and intermediate products, and cumbersome procedures for import and export licences and permits, cause delays and extra costs to firms hurting small and medium enterprises particularly and dampening diversification efforts. NTMs can also increase the cost of important food staples and household consumer products. The challenge is to identify ways to reduce the trade-impeding effect of NTMs while ensuring that legitimate regulatory objectives are attained. The challenge for trading partners/governments is to achieve their regulatory and public policy objectives in a way that also allows them to maximize the gains from trade for all. Cooperation among governments in designing NTMs offers an efficient option to achieve regulatory objectives while reducing potentially unnecessary trade costs. This approach can lead to greater coherence and inter-operability across national regulatory regimes, thereby enabling economies to take better advantage of the welfare-enhancing benefits from trade. The volume is a valuable document and will greatly benefit policymakers and those engaged in the foreign trade activity.
{"title":"Book Review: Biswajit Nag and Debashis Chakraborty (Eds.), India’s Trade Analytics—Patterns and Opportunity","authors":"Anusree Paul","doi":"10.1177/1391561419868417","DOIUrl":"https://doi.org/10.1177/1391561419868417","url":null,"abstract":"NTMs may be legitimate measures addressing market or coordination failures and achieving a wide range of policy objectives from consumers’ safety and health to environment purposes. However, they can hurt competitiveness and unnecessarily raise the cost of living. Restricted access to key inputs and intermediate products, and cumbersome procedures for import and export licences and permits, cause delays and extra costs to firms hurting small and medium enterprises particularly and dampening diversification efforts. NTMs can also increase the cost of important food staples and household consumer products. The challenge is to identify ways to reduce the trade-impeding effect of NTMs while ensuring that legitimate regulatory objectives are attained. The challenge for trading partners/governments is to achieve their regulatory and public policy objectives in a way that also allows them to maximize the gains from trade for all. Cooperation among governments in designing NTMs offers an efficient option to achieve regulatory objectives while reducing potentially unnecessary trade costs. This approach can lead to greater coherence and inter-operability across national regulatory regimes, thereby enabling economies to take better advantage of the welfare-enhancing benefits from trade. The volume is a valuable document and will greatly benefit policymakers and those engaged in the foreign trade activity.","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87288375","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 : 2019-09-01DOI: 10.1177/1391561419872121
Arvind Kumar
the RCEP need to be put in perspective and/or explained in the context of RCEP. Similarly, Chapter 11 by Kumar and Tripathi presents a broad perspective on protectionism and its repercussions for GVCs. There is little focus on RCEP. It would have done better if the authors were to reflect on how regional economic integration in Asia through RCEP could counter advanced economy contribution to a slowdown in trade growth through increased protectionism. A more focused selection of papers would have made for a far more useful reference for educating the reader as well as providing valuable inputs for ongoing RCEP negotiations. Finally, careful editing could have taken care of typographical errors in the text that, even if minor, can be irritating to the reader.
{"title":"Book Review: ASEAN India Centre at the Research and Information System for Developing Countries (RIS), Non-Tariff Measures (NTMs): Evidence from ASEAN-India Trade","authors":"Arvind Kumar","doi":"10.1177/1391561419872121","DOIUrl":"https://doi.org/10.1177/1391561419872121","url":null,"abstract":"the RCEP need to be put in perspective and/or explained in the context of RCEP. Similarly, Chapter 11 by Kumar and Tripathi presents a broad perspective on protectionism and its repercussions for GVCs. There is little focus on RCEP. It would have done better if the authors were to reflect on how regional economic integration in Asia through RCEP could counter advanced economy contribution to a slowdown in trade growth through increased protectionism. A more focused selection of papers would have made for a far more useful reference for educating the reader as well as providing valuable inputs for ongoing RCEP negotiations. Finally, careful editing could have taken care of typographical errors in the text that, even if minor, can be irritating to the reader.","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80555789","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 : 2019-09-01DOI: 10.1177/1391561419862158
A. Batra
{"title":"Book Review: Deeparghya Mukherjee (Ed.), Economic Integration in Asia: Key Prospects and Challenges with the Regional Comprehensive Economic Partnership","authors":"A. Batra","doi":"10.1177/1391561419862158","DOIUrl":"https://doi.org/10.1177/1391561419862158","url":null,"abstract":"","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88632703","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 : 2019-09-01DOI: 10.1177/1391561419853168
J. Nair
{"title":"Book Review: Bimal Jalan, India Ahead 2025 and Beyond","authors":"J. Nair","doi":"10.1177/1391561419853168","DOIUrl":"https://doi.org/10.1177/1391561419853168","url":null,"abstract":"","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89804640","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 : 2019-03-01DOI: 10.1177/1391561418822204
Ugyen M. Tenzin
In order to understand the dynamics of unemployment in Bhutan at a macro-level, this study has explored the association among economic growth, inflation and unemployment from 1998 to 2016. The autoregressive distributed lag (ARDL) model was applied to estimate the impact of economic growth and inflation on unemployment. The results of this empirical analysis suggest that economic growth had no impact on the reduction of unemployment rate in Bhutan both in the short and in the long run. In fact, as the economic growth increased, so did the unemployment rate. However, inflation had a negative association with unemployment rate in the short run and a positive association in the long run. In other words, an increase in the employment rate led to an increase in the inflation in the short run. Likewise, if inflation is not monitored or controlled, the uncertainty of inflation can lead to lower investment and lower economic growth, thereby causing unemployment to rise in the long run. This study, therefore, recommends policymakers to take into account the employment elasticity with respect to economic output and focus on sectors, which have more absorptive capacity in engaging the young labour market entrants. JEL: B22, C22, E24, E31
{"title":"The Nexus Among Economic Growth, Inflation and Unemployment in Bhutan","authors":"Ugyen M. Tenzin","doi":"10.1177/1391561418822204","DOIUrl":"https://doi.org/10.1177/1391561418822204","url":null,"abstract":"In order to understand the dynamics of unemployment in Bhutan at a macro-level, this study has explored the association among economic growth, inflation and unemployment from 1998 to 2016. The autoregressive distributed lag (ARDL) model was applied to estimate the impact of economic growth and inflation on unemployment. The results of this empirical analysis suggest that economic growth had no impact on the reduction of unemployment rate in Bhutan both in the short and in the long run. In fact, as the economic growth increased, so did the unemployment rate. However, inflation had a negative association with unemployment rate in the short run and a positive association in the long run. In other words, an increase in the employment rate led to an increase in the inflation in the short run. Likewise, if inflation is not monitored or controlled, the uncertainty of inflation can lead to lower investment and lower economic growth, thereby causing unemployment to rise in the long run. This study, therefore, recommends policymakers to take into account the employment elasticity with respect to economic output and focus on sectors, which have more absorptive capacity in engaging the young labour market entrants. JEL: B22, C22, E24, E31","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73190121","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 : 2019-03-01DOI: 10.1177/1391561418822205
Paramita Mukherjee, D. Coondoo
Recently several changes have been adopted in the conduct of monetary policy in India, like tracking CPI (Consumer Price Index), targeting inflation and so on. However, certain curious features of inflation may have some implications on the effectiveness of such measures. This article tries to explore the nature of inflation during the last decade. There are certain views about the nature of Indian inflation from the structuralist perspective. This article contributes to the literature by empirically testing those propositions and coming out with some significant policy implications. The article is based on monthly data from January 2006 to March 2016. By employing econometric techniques like cointegration and vector autoregression (VAR), the article tries to explain the movements of different components of WPI (Wholesale Price Index) and CPI inflation, both core and headline inflation and how they are related to macroeconomic policy variables. The empirical analyses focus on finding out the existence of co-movements among the inflation and macroeconomic variables, explaining the role of components like food and fuel price in driving CPI and WPI. The results have some important policy implications. First, the movements of WPI and CPI and their headline and core counterparts are not explained by same set of variables. Second, food inflation is not explained by agricultural output pointing to the insufficient increase in supply in agriculture. Third, the determinants of CPI headline and core inflation are not same. So, both of them should be tracked while formulating policies. The relationship among the components of inflation point to the possibility of some adjustment in demand from one set of goods to another, implying adjustments in terms of relative prices which needs further exploration. JEL: E31, E52, C32
{"title":"The Indian Inflation 2006–2016: An Econometric Investigation","authors":"Paramita Mukherjee, D. Coondoo","doi":"10.1177/1391561418822205","DOIUrl":"https://doi.org/10.1177/1391561418822205","url":null,"abstract":"Recently several changes have been adopted in the conduct of monetary policy in India, like tracking CPI (Consumer Price Index), targeting inflation and so on. However, certain curious features of inflation may have some implications on the effectiveness of such measures. This article tries to explore the nature of inflation during the last decade. There are certain views about the nature of Indian inflation from the structuralist perspective. This article contributes to the literature by empirically testing those propositions and coming out with some significant policy implications. The article is based on monthly data from January 2006 to March 2016. By employing econometric techniques like cointegration and vector autoregression (VAR), the article tries to explain the movements of different components of WPI (Wholesale Price Index) and CPI inflation, both core and headline inflation and how they are related to macroeconomic policy variables. The empirical analyses focus on finding out the existence of co-movements among the inflation and macroeconomic variables, explaining the role of components like food and fuel price in driving CPI and WPI. The results have some important policy implications. First, the movements of WPI and CPI and their headline and core counterparts are not explained by same set of variables. Second, food inflation is not explained by agricultural output pointing to the insufficient increase in supply in agriculture. Third, the determinants of CPI headline and core inflation are not same. So, both of them should be tracked while formulating policies. The relationship among the components of inflation point to the possibility of some adjustment in demand from one set of goods to another, implying adjustments in terms of relative prices which needs further exploration. JEL: E31, E52, C32","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80711701","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 : 2019-03-01DOI: 10.1177/1391561418822210
T. Bhavan
The purpose of this study is to disclose accident-related indices and investigate the extent to which the road accidents impact on the economic performance of Sri Lanka during the period from 1977 to 2016. Annual time-series data are used to evaluate the accident indices for econometric analysis. Augmented Dickey–Fuller (ADF) unit root analysis and Johansen’s maximum likelihood estimator of the parameters of a cointegrating vector error correction model (VECM) are employed to test the stationary properties of the time series and to examine the long-run relationship between the variables, respectively. The results derived from the analysis confirm the existence of long-run relationship between the accident-related indices and macroeconomic indicators. The long-run elasticity values imply the signs and magnitude of impact of the accident indices on macroeconomic indicators. JEL: R41, H510, I310, I32
{"title":"The Economic Impact of Road Accidents: The Case of Sri Lanka","authors":"T. Bhavan","doi":"10.1177/1391561418822210","DOIUrl":"https://doi.org/10.1177/1391561418822210","url":null,"abstract":"The purpose of this study is to disclose accident-related indices and investigate the extent to which the road accidents impact on the economic performance of Sri Lanka during the period from 1977 to 2016. Annual time-series data are used to evaluate the accident indices for econometric analysis. Augmented Dickey–Fuller (ADF) unit root analysis and Johansen’s maximum likelihood estimator of the parameters of a cointegrating vector error correction model (VECM) are employed to test the stationary properties of the time series and to examine the long-run relationship between the variables, respectively. The results derived from the analysis confirm the existence of long-run relationship between the accident-related indices and macroeconomic indicators. The long-run elasticity values imply the signs and magnitude of impact of the accident indices on macroeconomic indicators. JEL: R41, H510, I310, I32","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81839726","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 : 2019-03-01DOI: 10.1177/1391561419829657
Mustafiz Rahman
{"title":"Book Review: Sanjay Kathuria, A Glass Half Full: The Promise of Regional Trade in South Asia","authors":"Mustafiz Rahman","doi":"10.1177/1391561419829657","DOIUrl":"https://doi.org/10.1177/1391561419829657","url":null,"abstract":"","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80667964","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 : 2019-03-01DOI: 10.1177/1391561418822208
S. Bairagi, M. Kamal
During the last decade, Bangladesh economy grew consistently over 6 per cent annually; however, growth rate in the agriculture sector declined. Labour away from agriculture is evident; it is also evident real wages in the agriculture sector are rising. This could be an indication that Bangladesh is moving to a different stage of economic development. This article investigates whether Bangladesh is approaching a stage of economic development where marginal productivity of labour equals its price, called the Lewis turning point (LTP). We find that the reallocation of labour away from agriculture has had a positive but insignificant impact on economic growth in Bangladesh. We also find that the surplus agricultural labour has not fully been absorbed by the economy. Therefore, we conclude Bangladesh has yet to reach the LTP and suggest initiating policies (e.g., job creation in the service sector) that might speed up the country’s movement to the LTP. JEL: O11, O17, O41, O53
{"title":"Is Bangladesh’s Economy Approaching the Lewis Turning Point?","authors":"S. Bairagi, M. Kamal","doi":"10.1177/1391561418822208","DOIUrl":"https://doi.org/10.1177/1391561418822208","url":null,"abstract":"During the last decade, Bangladesh economy grew consistently over 6 per cent annually; however, growth rate in the agriculture sector declined. Labour away from agriculture is evident; it is also evident real wages in the agriculture sector are rising. This could be an indication that Bangladesh is moving to a different stage of economic development. This article investigates whether Bangladesh is approaching a stage of economic development where marginal productivity of labour equals its price, called the Lewis turning point (LTP). We find that the reallocation of labour away from agriculture has had a positive but insignificant impact on economic growth in Bangladesh. We also find that the surplus agricultural labour has not fully been absorbed by the economy. Therefore, we conclude Bangladesh has yet to reach the LTP and suggest initiating policies (e.g., job creation in the service sector) that might speed up the country’s movement to the LTP. JEL: O11, O17, O41, O53","PeriodicalId":39966,"journal":{"name":"South Asia Economic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83064008","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：