Business Law (Books and Journals)

• Foreign Trade Review

There is a high level of policy interest on the effect of trade liberalisation on inequality, especially in developing countries, because of their large vulnerable populations. India also initiated the process of liberalisation as a response to the severe balance of payments crisis of 1991. However, both rural and urban inequality has been increasing since the period 1993–1994, with urban...

• Foreign Trade Review

Using a rich firm-level panel dataset of Indian manufacturing over 2010–2018, this study aims to identify the spillover effects associated with foreign direct investment (FDI). To this end, we distinguish spillover effects into horizontal (Intra-industry linkage) and vertical (backward or downstream and forward or upstream Inter-industry linkages) FDI channels. We employ various semi-parametric...

• Foreign Trade Review

The impact of tariff barriers affecting participation in global value chain (GVC) trade has received attention in recent literature. However, the empirical evidence in the context of mega-regional trade agreements, such as the Regional Comprehensive Economic Partnership (RCEP), from which India opted out recently, remains non-existent. Our study contributes to the empirical literature by...

• Foreign Trade Review

Rajib Bhattacharyya, Ramesh Chandra Das, and Achintya Ray (Eds.), COVID-19 Pandemic and Global Inequality: Reflections in Labour Market, Business and Social Sectors (Singapore: Springer Nature, 2023), 333 pp. €128.39 (Hardcover), ISBN 978-981-99-4404-0.

• Foreign Trade Review

This study aims to reveal the need to reformulate new forms of Bilateral Trade Balances (BTBs) for a country rather than a traditional BTB. This is because the traditional BTB ratio, based on total exports and defined as the total exports/total imports ratio, cannot classify and quantify a BTB based on its economic impact content. It fails to classify because countries also export goods already...

• Foreign Trade Review

This study explores the effect of trade and industrialisation on environmental sustainability in Africa. To achieve the study objective, the pooled mean group estimation strategy was employed on data from 1990 to 2019 for 38 selected African countries. Findings are indicative that trade has a negative and significant effect on ecological footprint in the long run. It is iemplied that trade...

• Foreign Trade Review

We consider a small open economy with three sector and four factors. Agricultural sector produces output with unskilled labour and land. Manufacturing sector and skill formation sector produce output with skilled labour and capital. Skill formation sector transforms the unskilled labour into skilled labour. We also consider an extended version of this model where agricultural sector also uses...

• Foreign Trade Review

The pandemic crisis and associated lockdown have led to diminution in demand on one hand and different types of supply side bottlenecks on the other. The article makes a theoretical attempt to assess macroeconomic dimensions of COVID-19 along with consequences of such crisis using a two-sector dependent economy model. In particular, the article investigates the implications of unanticipated...

• Foreign Trade Review

This article studies the effects of financial liberalisation on governability. The dependent variables measure governability in terms of control of corruption, government effectiveness, political stability, rule of law, regulatory quality and free speech for 125 countries from 1996 to 2019. As a variable measuring financial liberalisation, I use the Chinn-Ito index and Fernandez index as capital...

• Foreign Trade Review

Over the past two and half decades, rising non-tariff barriers, such as SPS and TBT measures appear to negate any benefits accruing from declining tariffs. The adoption of higher standards reflects efforts, generally by developed nations, towards protecting both human and environmental health. However, the burden of compliance falls on the upstream players of the supply chain, mostly located in...

• Foreign Trade Review

Foreign aid, in theory, is expected to mitigate constraints that impede the economic development of recipient countries. At the same time that help is committed, donors are seemingly taking actions that are harmful to developing economies in obvious ways. An example is the tacit circumvention of the putative rules-based global trading system through contingent protection activities. In this...

• Foreign Trade Review

This article uses panel data with 6,743 country-year observations to investigate the effects of participation in the global value chain (GVC) on export survival rate for the period 2005–2014. GVC participation is measured as the value addition embedded in exports, looking both backward and forward from a reference country. The empirical results show that both backward and forward linkages have...

• Foreign Trade Review

The article makes a theoretical attempt to explain how different interconnected measures of globalisation—service led growth, tariff reform, agricultural trade liberalisation and capital account liberalisation—affect the skilled–unskilled wage disparity, sector-wise performance, income distribution and aggregate welfare of the economy. We pay attention to land augmenting technological progress as

• Foreign Trade Review

Studying the impact of global value chains’ (GVCs) participation degrees on carbon emission transfer through international trade (CTIT) in Belt and Road Initiative (BRI) economies is of great significance because these economies are significant participants of GVCs and international trade. The current study, through the inter-regional Input-Output table, calculated the GVCs’ participation degrees

• Foreign Trade Review

This study makes an attempt to examine the exchange rate pass-through (ERPT) to domestic prices in India from 1993M4 to 2021M3. In the empirical literature, the relationship between the exchange rate and the price was found to be linear. However, in emerging economies recently the asymmetric relationship between these variables is noticed: the effect of appreciation on price is found to be...

• Foreign Trade Review

This study aims to investigate the regional impact of the sanctions imposed by the West on the Russian Federation. To this end, we used two samples to estimate the determinants of bilateral trade. The first dataset belongs to ex-Soviet countries between 1992 and 2019, and the second dataset expands it with bilateral trade data relating to China, Iran and Turkey. The results reveal that there are...

• Foreign Trade Review

This article develops a full employment monetary framework that deals with the interaction between exchange rate and inflation rate dynamics, emphasising the existence of risk premium. The economy consists of internal and foreign bonds. These are close substitutes since there exists a risk premium that depends on inflation rate, budget deficit and net exports. According to the monetary policy...

• Foreign Trade Review

Two opposite strands of literature analysing export diversification’s role in promoting sustainable growth have evolved in international economics and development, namely, the intensive and extensive margins of exports. This study empirically investigates which of the margin is more useful towards promoting sustainable growth using annual time series data of Nigeria for the period 1960–2021....

• Foreign Trade Review

A growing body of literature is concerned with the factors that determine the inflows of foreign direct investment (FDI) into a host country. However, hardly any literature has been carried out to provide a systematic literature review (SLR) of the FDI determinants. An SLR methodology underlies this conceptual paper to evaluate and categorise a literature survey of 112 empirical studies published

• Foreign Trade Review

In this research, we investigate the dynamic relationship between the trade balance and exchange rate in the case of India using threshold cointegration and an asymmetric error-correction model. Empirical results validate that the long-run dynamic relationship between the trade balance and exchange rates is asymmetric. In the short run, the trade balance responds only due to positive deviations...

• Foreign Trade Review

This article develops a full employment monetary framework that deals with the interaction between exchange rate and inflation rate dynamics, emphasising the existence of risk premium. The economy consists of internal and foreign bonds. These are close substitutes since there exists a risk premium that depends on inflation rate, budget deficit and net exports. According to the monetary policy...

• Foreign Trade Review

Two opposite strands of literature analysing export diversification’s role in promoting sustainable growth have evolved in international economics and development, namely, the intensive and extensive margins of exports. This study empirically investigates which of the margin is more useful towards promoting sustainable growth using annual time series data of Nigeria for the period 1960–2021....

• Foreign Trade Review

A growing body of literature is concerned with the factors that determine the inflows of foreign direct investment (FDI) into a host country. However, hardly any literature has been carried out to provide a systematic literature review (SLR) of the FDI determinants. An SLR methodology underlies this conceptual paper to evaluate and categorise a literature survey of 112 empirical studies published

• Foreign Trade Review

This article uses granular information on trade flows between India and its trading-partners to estimate the impact of price changes on the import basket in general. We first investigate whether a change in world prices at the commodity level triggers a reorganisation of trading partners. Second, we examine the degree of transmission of world prices to Indian import prices. Lastly, we look at...

• Foreign Trade Review

In this research, we investigate the dynamic relationship between the trade balance and exchange rate in the case of India using threshold cointegration and an asymmetric error-correction model. Empirical results validate that the long-run dynamic relationship between the trade balance and exchange rates is asymmetric. In the short run, the trade balance responds only due to positive deviations...

• Foreign Trade Review

This article uses granular information on trade flows between India and its trading-partners to estimate the impact of price changes on the import basket in general. We first investigate whether a change in world prices at the commodity level triggers a reorganisation of trading partners. Second, we examine the degree of transmission of world prices to Indian import prices. Lastly, we look at...

• Foreign Trade Review

The study examines the interaction effect of trade and institutional quality on financial sector development in 20 leading economies in sub-Saharan Africa selected based on 2018 GDP per capita ranking (top 20 richest economies by GDP per capita released by the IMF) over the period 2005–2020. Using system-generalised method of moments estimation, the results indicate that the effect of the...

• Foreign Trade Review

The article assesses the potential economic implications of tariff elimination and trade facilitation (TF) in the context of the African Continental Free Trade Area (AfCFTA) agreement for East Africa. Using the most recent GTAP database and computable general equilibrium model, the article provides additional evidence on the socio-economic benefits of the ongoing trade integration process. The...

• Foreign Trade Review

The main raison d’être of the Southern African Development Community (SADC) Free Trade Area (FTA) implemented in 2012 was to inter alia boost intra-regional trade and promote regional trade integration. The low levels of growth and mixed trade performance of countries, eight years after, raises questions about the success of the FTA. The success of the recently launched African Continental Free...

• Foreign Trade Review

In the last four decades, sub-Saharan African countries have witnessed a substantial increase in trade openness and sovereign debt (foreign public debt and domestic public debt). The direct and interactive effects of these factors on economic growth are investigated in this study. The investigation covers the period 1980–2020 and employs the generalised method of moment methodology. The...