Trade Specialisation Pattern of Indian Agriculture under the Influence of WTO: A Study based on Galtonian Regression
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Author: Shabana Anjum and Md Sahnewaz Sanu
Author Address: Department of Economics, Aligarh Muslim University, Aligarh-202001 (Uttar Pradesh)
Keywords: Agriculture, Galtonian regression, revealed comparative advantage, trade specialisation, WTO
JEL Codes: F13, F14, Q17
Abstract
The present study was undertaken to analyse the impact of WTO on the trade specialisation pattern of Indian agriculture. Twentyfive major agricultural commodities were selected at four-digit data based on HS 1988/92 classification, which were India's top agricultural export items. The study used three RCA indices such as Balassa Index, Symmetric RCA index and Normalised RCA index in an econometric framework by applying Galtonian Regression. It was found that WTO led to a convergence in the trade specialisation pattern of Indian agriculture. The commodities with initial comparative disadvantage improved their position, and those with initial comparative advantage had fallen back. This study contributed to the existing literature as Galtonian Regression's application filled up a major research gap on the trade specialisation pattern of Indian agriculture.
Description
Indian Journal of Economics and Development
Volume 17 No. 1, 2021, 157-163
DOI: https://doi.org/10.35716/IJED/20290
Indexed in Clarivate Analytics (ESCI) of WoS
Indexed in Clarivate Analytics (ESCI) of WoS
Scopus: Title Accepted
NAAS Score: 5.15