Open AccessForeign Trade Regimes and Economic Development: India. By Jagdish N. Bhagwati and T.N. Sirinivasan. New York Columbia University Press (Published by the National Bureau of Economic Research 1975) 261 pages.
Author(s) -
Abdur Razzaq Shahid
Publication year - 1977
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v16i1pp.112-114
Subject(s) - devaluation , liberalization , economics , foreign exchange , economic liberalization , exchange rate , government (linguistics) , international economics , economic policy , international trade , macroeconomics , monetary economics , market economy , linguistics , philosophy
This volume on India is one of a series of research projectson exchange control, liberalization, and economic development,undertaken for many less developed countries. The study deals with threemajor topics: exchange control, liberalization, and growth. First, under'The Anatomy of Exchange Control', the methods of allocation andintervention in the foreign trade and payments practised by thegovernment during the restrictive period 1956-66 and their economicimpact are discussed. Then, a detailed analysis of the 'LiberalizationEpisode' which covers the policies in the period 1966-68, including theJune 1966 devaluation, and the episode's effect on price level, economicactivity, and exports is given. Finally, the overall growth effects ofthe foreign trade regime (broadly defined as exchange rate policy plusthe frame-work of relevant domestic policies such as industriallicensing), and their possible contribution to India's ratherunsatisfactory economic performance are examined.