Sarbjit Singh

Calculation of Ad Valorem Equivalents of Non-Tariff Barriers: A Case Study of 16 RCEP Countries

This chapter provides the calculation of ad valorem equivalents (AVEs) of nontariff barriers, particularly those barriers that increase both the time to import and the time to export goods between two trading partners. The calculation considers the example of 16 member countries of the proposed Regional Comprehensive Economic Partnership (RCEP) agreement. This chapter evaluates the impact of trade facilitation in RCEP countries on their bilateral trade flows and other macroeconomic variables. Using an econometric approach, sectorwide AVEs of the time to import and the time to export have been calculated through the estimation of an augmented version of the gravity model.

Trade Growth Accounting in Goods and Services: An Empirical Exercise

This chapter explores the reasons behind trade growth in goods and services over the years for some selected countries by using Novy’s measure. We calculate trade costs in terms of tariff equivalents by using the indirect trade cost measure given by Novy. Trade costs and trade growth accounting in both goods and services are shown separately. For trade costs in goods, we look at the case of India and APEC countries, and for trade costs in services we consider the 61 trading partners for which data is available.

Theoretical Exposition of Some Ex Ante Approaches to Assess the Proposed Trade Policy

This chapter explains the partial and general equilibrium approaches of evaluating proposed changes in trade policies. It discusses some of the empirical methods available in trade policy research that have been presented in earlier chapters. Advance references and online links are given for detailed reading. This chapter is very important for those readers who have initiated and planned their research in the field of empirical analysis of international trade policy issues. It will guide them in choosing appropriate methodology and acquiring data for their research work.

Developments in International Trade Theory and Gravity Modelling

This chapter discusses advances in international trade theory and gravity modeling with an explanation of the reasons behind gains from trade. The changing pattern of trade over time has also changed the explanation of the emergence of gains from trade, which provides room for new trade theories. Initial theories of trade, known as traditional trade theories, explain the pattern of trade in terms of comparative advantage. But with the passage of time, the emergence of trade in intermediates and services has provided new reasons for trade and hence has led to the advent of new trade theories. This chapter will explain the different reasons behind international trade.

Future Avenues in Trade Policy Research

This chapter concludes with a discussion of some new areas of research that can be pursued with the help of advanced applications of empirical tools. Many more issues still require further attention. The dynamic nature of trade policy provides many new areas of research that can be fruitful for any sincere researcher working in this field.

Output Growth in Post Liberalized India: An Input–Output Structural Decomposition Analysis

Over time, with changes in the structure of the economy, economic activities will expand and these structural changes are the prerequisite for development. For the Indian economy, it was in mid 1991 when the process of adjustment and reforms was initiated with greater zeal. The present study analyzes the sources of output growth from 1993–1994 to 2006–2007. The time point falls in the period of the ongoing reforms, and the period since then is long enough to attempt an assessment. The method of demand-side decomposition of output growth within an input–output framework has been utilized. The output growth over the study period has been divided into four components, viz, growth in output due to average growth of final demand, growth in output due to changes in the composition of the final demand, growth in output due to changes in input–output coefficients, and growth in output due to interaction of the change in final demand and change in technology.