The paper has made a modest attempt to analyze the effects of liberalized trade and investment policies on welfare and open unemployment in a developing economy in terms of a three sector Harris-Todaro (1970) type general equilibrium model. Following empirical evidence it is assumed that there...

The paper has made an attempt to analyze the effects of liberalized trade and investment policies on welfare and open unemployment in a developing economy in terms of a three sector Harris-Todaro type general equilibrium model. Following empirical evidence it is assumed that there is wage...

India embarked on a path of liberal economic reform in the 1990s after years of nurturing an intensively regulated and controlled economic environment that was loosened slightly in the mid-1980s. The most important and critical segments of this reform were trade and foreign investment. India has...