000			02050nab a2200193 4500
999			_c94837 _d94837
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100			_aRajesh, Raj
245			_aAssessing the Impact of Great Recession on India’s Trade in Gravity Model Framework
260			_a _b _c
300			_a239–270 p.
520			_aThis study examines the efficacy of trade channel in the transmission of recent Great Recession impulses to the Indian economy. To investigate the impact of Great Recession on India’s trade, gravity model of trade was estimated by regressing trade flows on size of economies, level of economic development, geographical distance and dummies for common border, landlocked country, islands, colonial history, common language, etc. For the same, quarterly data with respect to 11 advanced nations (namely, Austria, Australia, Canada, Denmark, Japan, Korea, New Zealand, Sweden, Switzerland, the United Kingdom and the USA) and nine emerging market economies (EMEs), including the BRICS nations (namely, Brazil, Russia, Indian, China, South Africa; Indonesia, Mexico, Saudi Arabia and Turkey) for the period from 2001q1 to 2013q4 were considered. Estimations suggest that Great Recession had an adverse impact on India’s bilateral import volume and total trade volume after a lag of three quarters. Findings validate that trade channel acted as a conduit for transmission of Great Recession impulses to the Indian economy. This suggests that as the Indian economy becomes progressively more integrated with the global economy, containment of potential adverse shocks emanating from trade sector would call for more pro-active policies. Lessons from the Indian economy could be useful for other similar EMEs.
650			_aTrade
650			_agravity model
650			_aGreat Recession
650			_apanel data
773	0		_039890 _dNew Delhi Indian Institute of Foreign Trade _oS89064 _tForeign Trade Review; 53(4) Nov 2018 _x0015-7325
856			_uhttp://192.168.6.75/libsuite/mm_files/Articles/AR16980.pdf
942			_2ddc _c8