Till recently the investment policy of India was overtly nationalistic. Today however everything seems to be changing. The change is enormous. India is becoming very open to foreign investors. Governmental procedures have been simplified and for most of the enterprises no government permission...

Globalization means enormous increase in scales of world trade and other processes of international exchange in open, integrated, borderless world economy. Thus, it means not only traditional overseas trade of goods and services, but also currency flows, capital movement, exchange of technology,...

The April 21, 2005 issue of the LONDON REVIEW OF BOOKS carried a lead article titled ‘Blood for Oil?’ The paper is attributed to a group of writers and activists – Iain Boal, T.J. Clark, Joseph Matthews and Michael Watts – who identify themselves by the collective name ‘Retort.’ In...

The present study examines the relationship between openness (trade-GDP ratio) and growth. Our cross-country panel data analysis of a sample 51 countries of the South during 1981-2002 shows that for only 11 rich and highly trade-dependent countries a higher real growth is associated with a...

In the context of the global financial crisis, many emerging countries experienced a significant degree of volatility in the foreign capital inflows. Sudden stops of capital inflows and increases in risk premia caused significant negative consequences to their economies. In this paper was...

International trade has been a major driver of global growth and prosperity over the last century. The paper aims to provide an analysis on the link between openness to trade and economic growth. The empirical literature has taken one of two vantage points. The first one is to analyze the...