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WTO and Bangladesh’s Farm Trade
Abstract
The study seeks to examine the impact of the WTO on Bangladesh’s farm trade. We find that under the WTO regime Bangladesh’s share in the world’s total agricultural trade has increased. Bangladeshi agricultural economy has opened in new economic environment. Bangladesh’s farm imports have grown faster than that of exports since the AoA, as a result, its agricultural trade deficit has widened rapidly. The importance of agricultural exports in the country’s overall exports has worsened. The specialization in agricultural trade and net terms of trade have deteriorated drastically. Further, results indicate that in the emerging farm trade order Bangladesh’s competitiveness is much better than leading producers especially in the exports of tea and jute.
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.
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