ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Restricting Third Country Imports

The Government of India has rolled out new rules to restrict third country imports routed through free trade agreement partners for availing preferential tariff benefits. However, the regulatory and compliance-related burdens of the new rules will burden both import-dependent and value chain led export-oriented sectors, and make them uncompetitive in global markets.

Time for a Massive Fiscal Stimulus

Only bold interventions by the government can ensure a quick recovery of the economy.

Doing Business Rankings: Reforms Must Focus on On-Ground Realities for Trade Facilitation

The latest Doing Business (DB) 2020 report places India 63rd among 190 countries, 14 places ahead of its position the previous year. While reforms in the areas of enterprise promotion and reducing red tape are always necessary, reform measures exclusively to attain a higher rank might jeopardise the priorities of that sector. The real success of a higher rank in DB could be in the form of hard infrastructure and last-mile connectivity rather than reducing a few certifications and office visits, making DB reforms go beyond just serving a higher rank.

The Future of Globalisation

An analysis of globalisation in a historical perspective can help us understand how the past or the present may shape the future. In so doing, this article outlines the contours of the present era of globalisation since its inception, circa 1975, to find that the successive epochs of globalisation during the second millennium came to an abrupt end because of their own consequences embedded in the process. Given this, the article seeks to focus on the present conjuncture, at the intersection of economics and politics, when globalisation is again in crisis to reflect on its future.

Kibithoo Can Be Configured as an Entrepôt in Indo-China Border Trade

Borders are the gateway to growth and development in the trajectory of contemporary economic diplomacy. They provide a new mode of interaction which entails de-territorialised economic cooperation and free trade architecture, thereby making the spatial domain of territory secondary in the global economic relations. Taking a cue from this, both India and China looked ahead to revive their old trade routes in order to restore cross-border ties traversing beyond their political boundaries. The reopening of the Nathula trade route in 2016 was realised as a catalyst in generating trust and...

Notes from India’s State Border Highways: Changing Rules, Institutional Corruption and Hoping for Too Much from GST

This essay looks at institutionalised corruption and its effect on Indian roadways, especially the Golden Quadrilateral. Despite higher speeds, delays of crossing states borders nullifies gains from speed. Will the goods and services tax change things?

Problems of Market Economy

Economic Challenges for the Contemporary World: Essays in Honour of Prabhat Patnaik edited by Mausumi Das, Sabyasachi Kar and Nandan Nawn, New Delhi: Sage, 2016; pp 324+xvii, ₹1,195.

BRICS and the New Financial Architecture

The BRICS summit held in October 2016 suggested the possible use of local currency in intra-BRICS trade to lower costs. This article extends this idea and proposes a scheme for setting up a clearing account in local currencies of the BRICS countries. It contends that such a step will provide avenues for generating additional demand within the region while cushioning the member countries against shocks from exchange rate volatility.

IMF's Call for Complacence

The International Monetary Fund's World Economic Outlook of April 2016 bodes that emerging market economies, including India, are at risk of sudden capital outflows. The IMF once again makes a case for its conventional, much-discredited tools to manage this risk. To repeat these recommendations, that on many occasions have only worsened crises, is to encourage complacency.

Argentina's Crisis: Causes and Consequences

During the east Asian crisis of 1997, Argentina was being referred to as a model state because of its fixed exchange rate regime. However, by 2001, due to several macroeconomic reasons the economy had collapsed. It is now clear that Argentina will reverse at least some of the economic reforms introduced by president Carlos Mennen in the early 1990s to survive the crisis it is currently experiencing. That small and open economies are far more susceptible to large external shocks, such as changes in foreign interest rates, terms of trade, regional contagion effects, etc, is among the many lessons of the Argentine crisis.

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