Pooja Lakhanpal, Jaydeep Mukherjee, Biswajit Nag and Divya Tuteja
(Eds.), Trade, Investment and Economic Growth: Issues for India and
Emerging Economies, Springer Nature Singapore, 2021, €119, 396 pp.
(Hardcover). ISBN: 978-981-33-6972-6.
The global economy is currently going through a transition period. The last two
decades have witnessed some of the greatest financial and economic crises that have
shook the developed economies. The Global Financial Crisis of 2008–2009 and
Eurozone Debt Crisis of 2011–2012, along with the Brexit and mounting trade
conflict between the USA and China have led to sluggish economic growth and
intensified policy uncertainty. The international trade has started to lose momentum,
partly due to tighter monetary policy, increased financial volatility and historically
high levels of trade restrictions by the developed economies. China, one of the
fastest growing economies, is also experiencing a slowdown, which is impacting its
trade partners. The recent COVID-19 pandemic has further caused a dramatic fall in
economic growth, international trade and capital inflows worldwide. Against this
backdrop and given the current economic scenario, this book focusses on some of
the key issues in trade and development. The book is a timely contribution to the
existing empirical literature on crucial policy issues in trade and capital flows and
their role in promoting economic development in emerging economies and India in
particular. The papers included in this volume focus on the pre-COVID period.
However, these core issues of trade and development will remain crucial and
fundamental in the post-COVID period as well.
The book consists of an Introduction by the editors and 21 chapters, classified
under four broad themes, namely (a) International Trade: Empirical and Policy
Issues, (b) Foreign Capital Flows and Issues in Finance, (c) Trade and Development
Interface: Implications for India and Emerging Economies and (d) Analysis of
Sector-level Growth and Development in India. The first chapter by the editors
presents an apt introduction, setting the context for the book and succinctly
summarising the rest of the chapters in the volume. This is complemented by an
analysis of recent economic development and performance of emerging economies
in the wake of the COVID-19-driven health crisis.
The first section of the book, ‘International Trade: Empirical and Policy
Issues’, contains six chapters and centres around key international trade issues
involving Asia in general and India in particular. The topics covered in this section
vary across issues such as effective rate of protection, factors affecting participation
Foreign Trade Review
57(2) 221–223, 2022
© 2022 Indian Institute of
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