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Gathering contributions from leading academics and international trade experts from South Asia, this book is dedicated to the late Dr. Saman Kelegma, whose untimely death in June 2017 left a huge void in the field of regional economic cooperation. Keeping in mind his enduring legacy regarding regional cooperation in South Asia, it covers issues related to the challenges of deeper regional integration in South Asia and proposes strategies to address these challenges. It also offers an up-to-date, rigorous academic analysis of various issues related to low intra-regional trade in South Asia; prevalence of tariff barriers; incidence of a range of non-tariff measures; challenges of weak-trade-related infrastructure and the need for trade facilitation; the political economics of regional integration, highlighting how bilateral political relations affect the integration process; low level of intra-regional investment; South Asia’s pattern of integration with the global and regional value chains; pattern and dominance of informal trade; and alternative regional integration initiatives in South Asia, such as the bilateral, regional, and sub-regional trade agreements within and countries outside this region. Intended primarily for researchers and students of international trade, and policymakers from South Asia and beyond, the book is also a valuable supplementary reference resource for researchers and students. Furthermore, the pragmatic analysis of the policy options presented offers guidance for policymakers in South Asia wanting to implement effective policies and strategies for deeper regional integration.
This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the International Macroeconomics section discuss critical topics like aggregate level macro model for India with a new Keynesian perspective, balance of payments, service sector exports, foreign exchange constraints for import demands, foreign direct investment and knowledge spill over, the relationship between forex rate fluctuation and investment, Institutional quality-trade openness-economic growth nexus, currency crises and debt-deficit relationship in the BRICS countries in the backdrop of COVID-19. Apart from these, various analytical issues related to macroeconomic policies are also covered in this section. The topics discussed includes the nature of forex market interventions, the issue of disinvestment and privatization, changing nature of fiscal policy, the inflation-growth nexus, macroeconomic simulation modelling, measuring core inflation, central bank credibility, monetary policy, inflation targeting, Infrastructure, trade, unemployment and inequality nexus. In the International Finance section, topics such as COVID-19 induced financial crisis, commodity futures volatility, stock market connectivity, volatility persistence, determinants of sovereign bond yields, FII and stock market volatility, cryptocurrency price formation, financialization of Indian commodity market, and a Keynesian view of the financial crisis are discussed. Overall, thirty two chapters in the volume discuss cutting edge research in the areas of the two sections. A tour de force... a lucid guide to some of the diverse and complex issues in International Macroeconomics and Finance. This collection of scholarly works is a fitting tribute to respected Prof. Bandi Kamaiah and his enviable academic contributions. - Prof. Y V Reddy, Former Governor, Reserve Bank of India This volume comprising thoughtful essays by our leading scholars on some of important policy issues that India is facing is indeed a rich tribute to Professor Bandi Kamaiah . This book will greatly benefit the academic community as well as our policy makers. - Prof. Vijay Kelkar, Chairman, 13th Finance Commission of India; Chairman, India Development Foundation, Mumbai, India Noted economists from India and abroad gather to apply the rigorous searchlight that Professor Bandi Kamaiah used so effectively in his career. Major current topics in macroeconomics and international finance are effectively explored in the volume. - Prof. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai, India; and Member, Monetary Policy Committee of Reserve Bank of India This volume of 32 papers in macroeconomics, international economics, and international finance is intended as a tribute to the eminent econometrician , Prof B Kamaiah. Post-graduate students and researchers will find much valuable literature in the volume, which is a fitting tribute to Prof Kamaiah. The editors and authors deserve rich compliments. - Prof. K L Krishna, Former Director, Delhi School of Economics, New Delhi, India I am so happy to hear that Dr. Kamaiah's colleagues and ex-students are bringing out a special volume of articles in his honor. Nothing can be more appropriate. Dr. Kamaiah, being a man of tremendous publications, deserves this tribute. I wish all the luck and success to the new book. - Prof. Kishore Kulkarni, Distinguished Professor of Economics, Metropolitan State University of Denver, USA
In a globalised world, where goods cross borders many times as intermediate and as final products, trade facilitation is essential to lowering overall trade costs and increasing economic welfare, in particular for developing and emerging economies. Facilitation efforts undertaken by various countries around the world also show that the benefits of such measures clearly compensate the costs and challenges posed by their implementation.
This volume foregrounds the importance of regional cooperation in the context of food security challenges in South Asia. South Asia holds the key to global achievement of SDG targets of ending hunger and malnutrition – it accounts for nearly one-third of food-insecure people on the planet, with every third child suffering from stunting due to malnutrition. Similar food preferences, production systems, and the transboundary nature of agrarian ecosystems call for coordinated action by South Asian countries, complementing national actions dealing with food security challenges. In this volume, leading experts discuss the perspectives of key South Asian countries in leveraging regional cooperation for addressing food security challenges and reflect on the potential of cooperative actions in different areas. The book proposes a ten-point regional policy agenda covering cooperation for combatting climate change, regional trade liberalization, operationalization of regional food reserves, leveraging technology, sharing of good practices, regional institution building, coordinated positions in multilateral trade negotiations, addressing trans-boundary outbreak of livestock diseases, strengthening food safety standards, and the management of shared natural resources. A key volume on accomplishing SDGs in the South Asian context, this book will be of immense interest to policy makers, researchers, and development practitioners. It is also essential reading for scholars and researchers in the areas of development studies, South Asia studies, food security, environment and sustainability.
“South Asia 2060” is a dialogue between 47 thought leaders, ranging from policymakers to academics to civil society activists and visionaries from across South Asia and the world, on the likely longer-range trajectories of South Asia's future as a region. The collection explores how South Asia's regional future will impact the rest of the world while also shedding light on its present condition.
This publication displays the menu for choice of available methods to evaluate the impact of Free Trade Agreements (FTAs). It caters mainly to policy makers from developing countries and aims to equip them with some economic knowledge and techniques that will enable them to conduct their own economic evaluation studies on existing or future FTAs, or to critically re-examine the results of impact assessment studies conducted by others, at the very least.
Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
This book focuses on strategies to achieve economic diversification in Asian landlocked countries. It does so by analysing the impact of the Dutch disease, non-resource firm heterogeneity, trade logistics operations, trade facilitation, aid for trade, small and medium-sized enterprises, and foreign direct investment. Offering a wide range of expert views and opinions, research findings, information and data, the book will be of value to policy makers and students of trade and development economics.
Zahid Shahab Ahmed evaluates the progress of the South Asian Association for Regional Cooperation (SAARC). This study goes beyond economic integration to present a detailed appraisal of cooperation under the overarching themes of economic cooperation, environmental security, human welfare, and cooperation in security matters. According to the author, SAARC is making progress in addressing the myriad of issues on its agenda. The transition from agreements to actions and frequent interactions among the member states has boosted confidence. The progress of SAARC is more evident in the less controversial areas of human security, such as poverty alleviation, health and safety, human resources development, and higher education. Notwithstanding enthusiastic commitments reflected in agreements and action plans, there is a gulf between rhetoric and implementation most notably in sensitive areas relating to traditional security. In the light of the findings of this study, the author proposes that greater cooperation in common human security areas has a potential to pave the way for a cooperation on issues of a ’contentious’ nature, particularly terrorism.