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Inflation and Trade Openness: Empirical Investigation for India

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  • Ajit R Joshi
  • Debashis Acharya

Abstract

The question whether increased openness on trade account creates a favorable atmosphere for inflation reduction has been examined in the present study. The empirical results employing quarterly data over the 21-year period from 1984-85 to 2004-05, indicate that while trade openness has significantly contributed to the disinflation process, the decline in the world inflation rate has also been a significant environmental factor for this decline. The study also finds that the relationship has grown stronger, in terms of structural break, since 1989, when the trade liberalization started showing macroeconomic effects.

Suggested Citation

  • Ajit R Joshi & Debashis Acharya, 2010. "Inflation and Trade Openness: Empirical Investigation for India," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(1 & 2), pages 113-127, February .
    • Handle: RePEc:icf:icfjmo:v:08:y:2010:i:1&2:p:113-127
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    Cited by:

    1. Biswajit Maitra & Tafajul Hossain, 2020. "Inflation in India: causes and anti-inflationary policy perception," International Journal of Economic Policy Studies, Springer, vol. 14(2), pages 363-387, August.
    2. Uzair Hassan Khan & Muhammad Daniyal Imran, 2023. "Relationship between Inflation and Other Macro Economics Factors: Comparative Study of Germany, Japan and New Zealand," Journal of Economic Impact, Science Impact Publishers, vol. 5(1), pages 76-87.
    3. Ajit R. Joshi & Debashis Acharya, 2011. "Inflation Model for India in the Context of Open Economy," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 12(1), pages 39-59, March.
    4. Prof. Hyacinth Ichoku & Dr. Ihuoma Anthony & Dr. Tosin Olushola & Apinran Martins, 2023. "Analyzing the Evolving Relationships among Climate Change, Insecurity, and Food Price Inflation in Nigeria: NARDL Approach," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(11), pages 100-124, November.

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