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India’s Comparative Advantage in Farm Trade in the Emerging Trade Order
Abstract and Figures
The current study analyzes the competitiveness of Indian agriculture in the context of the WTO regime. The efficiency indicators in the context of exportable hypothesis indicate that in the emerging liberalized farm trade order India’s export competitiveness is much better in commercial crops. The results of present study reflect that, at the margin, resources are more efficiently utilized in the cultivation of gram and rapeseed/mustard than in the cultivation of wheat at current levels of technologies and prices, and India has vast export potential if Agreement on Agriculture (AOA) able to remove developed countries trade barriers and to withdraw domestic support to their agriculture. To generate adequate exportable surplus, India must maintain and enhance its production efficiency. The technology upgradation and infrastructure development are key domestic measures for enhancing competitiveness of Indian agriculture.
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India is the largest milk producer in the world. Milk and other dairy products account for about 67% of the value of the livestock sector, and these products support the livelihoods of nearly 50% of India’s rural households.
The emergence of renewable energy as an alternative to non-renewable energy sources has garnered a great deal of attention in crafting of sustainable energy policies. Motivated by this, the present study investigates the impact of renewable and non-renewable energy use on economic growth in India within the energy consumption-growth framework over the period 1971-2012. A newly proposed Bayer and Hanck combined test and auto-regressive distributed lags bound testing approach to co-integration and vector error correction model for Granger casualty are used in a multivariate framework wherein trade openness and financial development are included as additional variables. Empirical evidence confirms the existence of a long run equilibrium relationship among the competing variables. The results indicate that non-renewable energy consumption has a long run significant positive effect on India's economic growth. In sharp contrast, the long run elasticity of economic growth with respect to renewable energy consumption is found to be statistically insignificant. In addition, it is shown that a bidirectional causality exists between non-renewable energy use and economic growth in both the long run and short run. Based on the findings, it is suggested that a non-renewable energy conversation policy may retard economic growth in India if initiated without due regard to renewable energy sources.
The present study investigates the impact of renewable and non-renewable energy use on economic growth in India within the energy consumption–growth framework over the period 1971-2012 using a multivariate model wherein trade openness and financial development are included as additional variables. Empirical evidence confirms the existence of a long run equilibrium relationship among the competing variables. The results indicate that non-renewable energy consumption has a long run significant positive effect on India's economic growth. In addition, it is shown that a bidirectional causality exists between non-renewable energy use and economic growth in both the long run and short run. Based on the findings, it is suggested that a non-renewable energy conservation policy may retard economic growth in India if initiated without due regard to renewable energy sources.
The agricultural sectors in the European Union countries and the US are provided with large amounts of subsidies by governments. The subsidies causes excess supply of food products in these countries, which makes producers to dump it into developing economies by cutting prices below long-run marginal costs. This note shows that high tariffs can be used to convert the additional revenues realised by the foreign producers through dumping into tariff revenue of the Indian government. The tariff revenue can be utilised to increase investment in Indian agricultural sector to improve productivity.
The Domestic Resource Cost (DRC) indicator is widely used in developing countries to measure comparative advantage and guide
policy reforms. In this paper we demonstrate that the DRC formula is biased against activities that rely heavily on domestic
factors (land and labor), and that a simple Social Cost-Benefit (SCB) ratio is a generally superior measure of social profitability.
The SCB uses the same data as the DRC in a formula which does not distort profitability rankings. The policy significance
of improved measurement is shown using data from Kenya, where the DRC overstates the relative profitability of activities
using large amounts of tradable inputs.
This annual publication provides the most comprehensive description and assessment of agricultural and related policy developments in OECD countries. It presents data on the level and composition of support and protection to agriculture, and evaluates the extent to which countries are reforming their agricultural policies. A special section is devoted to agricultural trade and the implementation of the Uruguay Round Agreement on Agriculture.
Support to agricultural producers in OECD countries decreased in 2001 for the second consecutive year, but remained above the record low attained in 1997. Although there has been some progress in agricultural policy reform, it has been slow, variable and insufficient.
The estimation of effective protection coefficients is reported for 18 commodities produced in the Egyptian agricultural sector; both the Corden and Balassa formula are used. Attention is focussed on the effects on those estimates of using official and free market exchange rates, and of the exclusion and inclusion of the value of by products. It is concluded that when the market exchange rate is used Egyptian agricultural production faces overall disincentives from the protective structure.
In d ia 's Agro Export Perform ance and Competitiveness in Changed International Scenario
- Chand Ram
Chand Ram esh (2005), "In d ia 's Agro Export Perform ance and
Competitiveness in Changed International Scenario" in Hanumanthao Rao
C.H., Bhattacharya B.B. and Siddharthian N.S. (eds.), Indian Economy and
Society, Academic Foundation, New Delhi.
Global Market and Competitiveness of Indian Agriculture: Some Issues
- S S Gill
- J S Brar
Gill, S.S. and J.S. Brar (1996), "Global Market and Competitiveness of Indian
Agriculture: Some Issues", Economic and Political Weekly, Vol. 31, No. 32,
Aug.10, pp. 2166-2177.
Reports of the Commission for Agricultural Costs and Prices
- India Government
Government of India, "Reports of the Commission for Agricultural Costs
and Prices", Directorate of Economics and Statistics, Department of
Agriculture and Cooperation, Ministry of Agriculture, New Delhi, various
issues.
Agricultural Statistics at a Glance, Directorate of Economics and Statistics, Department of Agriculture and Cooperation, Ministry of Agriculture, Government of India
@BULLET (2004), Agricultural Statistics at a Glance, Directorate of Economics and
Statistics, Department of Agriculture and Cooperation, Ministry of
Agriculture, Government of India, New Delhi.
Approach to Tenth Five Year Plan-2002-07, Planning Commission
@BULLET (2002), Approach to Tenth Five Year Plan-2002-07, Planning Commission,
New Delhi.