Trade, Investment and Economic Growth: Issues for India and Emerging Economies

The book contributes to the growing literature pertaining to empirical and policy issues in international trade, foreign capital flows and issues in finance, implications for India and emerging economies related to trade and development interface, and analysis of sector level growth and development in India. Further, the focus is on the policy aspects of these themes and their role in fostering economic development in the context of India and other emerging market economies. The discourse focuses mainly on empirical work and econometric details. The relevant issues are investigated using state of the art techniques such as gravity models, panel co-integration, generalized hyperbolic distributions, SEM, FMOLS and Probit models. In addition, detailed literature survey, discussions on data availability, issues related to statistical estimation techniques and a theoretical background, ensure that each chapter significantly contributes to the ever-growing literature on international trade and capital flows. The readers shall find an engaging dialogue on the crucial role played by policy and the trade-capital flows-growth experience of emerging economies. The book is relevant for those who are interested in contemporary issues in trade, growth and finance as well as for students of advanced econometrics who may benefit from the analytical and econometric exposition. The empirical evidences provided here could serve as ready reference for academicians, researchers and policy makers, particularly in emerging economies facing similar challenges.

Pooja Lakhanpal is Associate Professor at Indian Institute of Foreign Trade, New Delhi. She obtained her PhD in Humanities and Social Sciences from Indian Institute of Technology, Mumbai in 2000. Dr. Lakhanpal has more than 27 years of work experience in both industry and academics. She has worked in the corporate sector with reputed firms like Tata Consultancy Services, Drshti Strategic Research Services, AC Nielsen and Silverline Industries amongst others, in domain areas of Strategic Consulting and Business Research. She has also been associated with leading Indian corporates like Reliance Industries, Godrej, M&M and globally reputed firms like Unilever, P&G, Samsung, Toyota, Bayer, J&J, Kellogg’s, BNP Paribas to name a few. Dr. Lakhanpal has also worked with various PSEs, Ministries, State Governments and Export Promotion Organisations. She was also a recipient of National Education Leadership Awards “Best Teacher in Human Resource Management” in July 2016 and was awarded“Best Professor in Human Resource Management” by World HRD Congress in February 2019. Her work was awarded “Best Paper” in the 5th International Conference on Social Sciences held in September 2018 at Colombo, Sri Lanka. Her research interests include sustainable business practices, business excellence & organisational transformation, corporate social responsibility, international business negotiations, human resource management etc.

Jaydeep Mukherjee is Associate Professor at Indian Institute of Foreign Trade, New Delhi. He was a Gold Medallist in Economics from Jadavpur University both at the undergraduate (Bachelors) and postgraduate (Masters) levels and was awarded PhD from the same instiution in 2006. He has around 18 years of teaching and research experience and has completed more than 15 funded research projects sponsored by reputed organizations in India and abroad, namely, International Finance Corporation (IFC) under World Bank, DFID-UK, PwC, Reserve Bank of India, Ministry of External Affairs, Spices Board, Ministry of Statistics and Programme Implementation, Ministry of Commerce and Industry, Government of India, Indian Embassy in Iran, etc. Dr. Mukherjee research papers are published in reputed peer-reviewed international journals namely, Journal of Policy Modeling, Journal of Asian Economics, Management Research Review, South Asian Journal of Macroeconomics and Public Finance, Review of Market Integration, Journal of World Trade, Journal of World Investment and Trade, Global Business Review, etc. He has also edited a book titled ‘Trade, Investment and Economic Development in Asia: Empirical and Policy Issues’. He is Associate Editor of Foreign Trade Review, quarterly journal of Indian Institute of Foreign Trade. His current areas of teaching and research interest include macroeconomic policy, open economy macroeconomy, international finance, time-series econometric applications in macroeconomics and finance, energy economics.

Biswajit Nag is Head of Economics Division and Professor of Economics at the Indian Institute of Foreign Trade (IIFT), New Delhi. He has been involved in empirical economic research for more than two decades in addition to have taught both in India and overseas. He has been a Visiting Research Fellow at the Institute of Developing Economies, Tokyo during 2018-19 and ICCR short term Chair Professor of India Studies at Ukraine in Feb, 2014. Earlier he was associated with Poverty and Development Division of UNESCAP, Bangkok in 2003-04. Dr. Nag has completed number of projects for Government of India and international agencies such as UN, World Bank, ADB, WTO, EU, DFID, JICA etc. He is also an advisor on Global Value Chain to Asia Pacific Research and Training Network on Trade (ARTNet) promoted by the UN-ESCAP. He is also a member of GERPISA, a European Consortium of Researchers on Automobile Sector.  His current research interest covers areas of international production networks, global value chains, trade in services, regional trade agreements, trade and development. He has authored and edited number of books: “My World with Rafiki: An Economic Travelogue and Miscellany” (2014), “Business Innovation and ICT Strategies” (co-authored, 2018), and “India’s Trade Analytics: Trends and Opportunities” (co-edited, 2019).

Prof. Divya Tuteja is Assistant Professor at the Indian Institute of Foreign Trade, Delhi since 2018. Earlier, she has also taught as Assistant Professor (Ad-hoc) at the Delhi School of Economics, University of Delhi from 2013 to 2018. She has also worked as a Manager in a reputed private bank for a year. She has taught courses at the Masters (MBA and MA Economics) and Ph.D. levels in the following areas, Business Economics, Econometrics (both introductory and advanced), Growth Theory (introductory) and Macroeconomics. She has also conducted training programmes for the Indian Economic Service (IES) officers. She received her doctoral degree from the Delhi School of Economics in 2015. She is recipient of the prestigious “Prof. M.J. Manohar Rao Award” bestowed to Young Economist for the year 2018. Her research interests include macroeconomics, applications of time series and international financial markets where she has worked on inter-linkages across international asset markets, impact of financial crises and the possibility of ‘financial contagion’. She has published in international journals such as World Development, Economic Modelling, Singapore Economic Review and Macroeconomics and Editors and Contributors xxv Finance for Emerging Market Economies. She is currently involved in a government funded research project as well. She has presented papers in more than 20 national and international conferences.