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ASEAN3+ India Trade Relations: Implications for Growth, Reforms, 'Look East' Policy and Economic Diplomacy

Tran, Van Hoa (2007) ASEAN3+ India Trade Relations: Implications for Growth, Reforms, 'Look East' Policy and Economic Diplomacy. Margin: The Journal of Applied Economic Research, 1 (4). pp. 341-357. ISSN 0973-8010

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Abstract

World leaders at the First East Asia Summit in Kuala Lumpur in 2005 endorsed highlevel studies and dialogues on an enlarged ASEAN free trade agreement to promote regional cooperation for mutual economic and political benefits between the ASEAN and the world’s other trading blocs. The endorsement is consistent with India’s contemporary reforms, with its ‘Look East’ policy and economic diplomacy. In spite of this important development, only limited research has been carried out or reported for informed discussions and policy analysis in the particular case of ASEAN3+India. This paper is a substantive evidence-based study of India’s reforms, ‘Look East’ policy, economic diplomacy, and East Asia Summit trade and cooperation issues. It uses the recently developed award-winning generalised gravity theory (see Tran Van Hoa 2004) to construct an ASEAN3+India model of growth and endogenous trade. Using historical data from the Organisation for Economic Cooperation and Development (OECD), Reserve Bank of India and Japan’s ICSEAD, the paper provides substantive fi ndings on the causal impact of ASEAN3+India trade in goods, FDI and services, and post-1991 reforms on economic growth for more credible policy analysis in the sense of Kydland (2006). Implications of the findings for India’s engagement with Asia are also discussed.

Item Type: Article
Uncontrolled Keywords: ResPubID13793, advanced econometric modelling and forecasts, ASEAN3+India Trade and Investment, ASEAN Plus, development and growth, economic and trade policy, regional trade agreements
Subjects: Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES)
FOR Classification > 1401 Economic Theory
SEO Classification > 9199 Other Economic Framework
Depositing User: VUIR
Date Deposited: 17 May 2012 22:51
Last Modified: 17 May 2012 22:51
URI: http://vuir.vu.edu.au/id/eprint/3425
DOI: 10.1177/097380100700100401
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