Theorizing International Trade: An Indian Perspective

This book discusses the developments in trade theories, including new-new trade models accounting for firm level trade flows; trade growth accounting using inverse gravity models (including distortions in gravity models); impact of trade liberalization under the aegis of regional and multilateral liberalization efforts of economies using partial and general equilibrium analysis; methodologies of constructing ad valorem equivalents of non-tariff barriers; determination of countries trade and exchange rate flows; volatility spillover effects of financial and exchange rate markets; among others. The book pays special attention to the use of computable general equilibrium analysis in understanding the various benefits and costs of countries aligning under free trade agreements with other countries and regional groups. It also discusses the various developments taking place in trade theory and gravity modeling, juxtaposing the theory with empirics related to India and other countries of the world. The main purpose of the book is to guide researchers working in the area of international trade, especially focused on empirical analyses of trade policy issues, in updating their knowledge on issues related to trade theory, empirical methods, and their applications. The book would prove useful for policy makers, academicians, researchers & docents, and general readers.