I evaluate India's transition from an inward-oriented development strategy to greater participation in the world economy. While tariff rates have decreased significantly over the past decade, India is still one of the more autarkic countries. Despite improvement over the past in export...

The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...

The Fourth Session of the Ministerial Conference of the World Trade Organization (WTO), held in Doha, Qatar, in November 2001, launched a new round of multilateral trade negotiations (MTN) and a work programme (WP) for the WTO involving the negotiating agenda and steps for meeting the challenges...

We propose two algorithms for deciding if theWalrasian equilibrium inequalities are solvable. These algorithms may serve as nonparametric tests for multiple calibration of applied general equilibrium models or they can be used to computecounterfactual equilibria in applied general equilibrium...

This paper discusses the testable implications of the Walrasian hypotheses: H1 Observed market demand is the sum of consumer's demands derived from utility maximization subject to budget constraints. H2 There exists an observable (locally) unique equilibrium price system such that the observable...