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Three decades of narrow globalization: Evaluating India's exports between 1991 and 2017
Author(s) -
Gupta Shikha,
Kumar Nand
Publication year - 2021
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3239
Subject(s) - globalization , convergence (economics) , economics , gravity model of trade , destinations , estimator , economic geography , international trade , international economics , econometrics , geography , macroeconomics , mathematics , statistics , market economy , tourism , archaeology
Thirty years of globalization has bolstered India's exports. Although globalization has been a contributor to India's growth, experiments with globalization have been regional, not global. The study examines the impact of globalization on India's exports to 154 exporting destinations for 1991–2017. Poisson pseudo‐maximum likelihood estimator is used to estimate the gravity model of trade. The study shows evidence of slowbalization, defining narrow and broad globalization. The empirical evidence presented in the paper also validates Linder's hypothesis. The analysis of speed and rate of convergence points to a trade potential with 102 trading partners of India.