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India’s Optimal Trade Strategy: A General Equilibrium Analysis

Author

Listed:
  • Zhang, Jian

    (Department of Economics, University of Hawaii at Manoa)

  • Fung, Hung-Gay

    (College of Business Administration & Center of International Studies, University of Missouri-St. Louis)

  • Sawhney, Bansi

    (Merrick School of Business, University of Baltimore)

Abstract

Using a conventional multi-region, multi-sectoral global trade analysis project (GTAP) model, we analyze the effects of India’s trade liberalization policies on its output, trade, and welfare. We also analyze three trade policy scenarios: full trade liberalization, joint cooperative trade liberalization, and unilateral trade liberalization. India, despite some tradeoffs in the trade and agricultural sectors, primarily gains in welfare. The gains in the unilateral trade liberalization scheme, though positive, are smaller than that of the joint cooperative trade liberalization and the full trade liberalization schemes, implying some flexibility in trade negotiations.

Suggested Citation

  • Zhang, Jian & Fung, Hung-Gay & Sawhney, Bansi, 2008. "India’s Optimal Trade Strategy: A General Equilibrium Analysis," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 61(4), pages 755-776.
    • Handle: RePEc:ris:ecoint:0022
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    More about this item

    Keywords

    International trade; Computational General Equilibrium; India;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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