The Gains and Pains of Financial Integration and Trade Liberalization

Lessons from Emerging Economies

Rajib Bhattacharyya

Emerald

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9781838670047

26 November 2019

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26 November 2019

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26 November 2019

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The benefits and costs of trade liberalization and financial integration is currently one of the most intensely debated topics in world economics, as the future of the emerging nations of Asia and the fate of more developed countries heavily depends on whether everyone can reap the benefits of this integrated and globalized world. Some believe that increased openness to capital flows has, in general, proved essential for countries seeking to rise from lower- to middle-income status and that removing restrictions on trade and capital flows may usher huge benefits by easing various constraints. Others argue that deregulation of financial markets would have devastating effect on emerging market economies in the long run and that unfettered capital flows may disrupt global financial stability.

In The Gains and Pains of Financial Integration and Trade Liberalization: Lessons from Emerging Economies, Rajib Bhattacharyya offers expert insight into these complex debates as he investigates emerging market economies and their recent experiences with these outward-orientation policies. A unique blend of wide-ranging issues and theoretical and empirical depth, this exciting new book includes chapters on dynamic panel models, the measurement of financial integration, the impact of trade openness and financial integration on growth output volatility, and other vital topics. With its focus on real-world issues in emerging markets and its comprehensive coverage of issues such as risk, fiscal policy, and economic effects on income inequality and poverty reduction, Bhattacharyya offers a much-needed contribution to the often all-too-polarised literature.

Geared towards policy makers, researchers, academics, and business and management professionals, The Gains and Pains of Financial Integration and Trade Liberalization helps readers develop new theories and models for analysing the future trends in finance and trade-related issues.

Introduction 1. How do Trade Openness and Financial Integration affect Growth and output volatility?; Richardson Kojo Edeme, Nelson C. Nkalu, Ebikabowei Biedomo Aduku, and Azu Benedict 2. Globalization, Financial Integration and Growth: Any linkage so far for Brazil, China and India?; Ramesh Chandra Das and Bankim Chandra Ghosh 3. A Latent Variable Modeling of a Multidimensional Index of Economic and Financial Integration of Australia with the Arab and Southeast Asian Emerging Economies; Partha Gangopadhyay, Mamun Billah and Siddharth Jain 4. Understanding Characteristics of Economic Growth in the Emerging Economies during the Post-Financial Liberalization Period: Case Study of India and Brazil; Anindita Sengupta 5. Trade Openness, Financial Openness and Growth in Emerging Market Economies: A Dynamic Panel Approach; Ozoemena Stanley Nwodo and Ezebuilo Romanus Ukwueze 6. FDI, Trade and Economic Growth: A Dynamic Panel Study on Global Economy; Anil Bhuimali, Partha Pratim Sengupta, Sidhartha Sankar Laha, and Madhabendra Sinha 7. Joint Estimation of Fiscal Policy, Monetary Policy, Income Inequality, Trade and Economic Growth: Case of Emerging Market Economy; Dipyaman Pal, Chandrima Chakraborty and Arpita Ghose 8. Digital Financial Integration, Investment, Economic Growth, Development and Poverty Reduction; Napoleon Kurantin and Bertha Z. Osei-Hwedie 9. A New Look at the Dynamics of India's Balance of Payments through its Liberalization Episode; Asim K. Karmakar and Sebak K. Jana 10. Impact of Risk Perceptions on FDI inflows: A study with emerging market economies; Debabrata Mukhopadhyay and Dipankar Das 11. Financial Development and Financial Market Integration in India: A Post-Reform Scenario; Debashis Mazumdar, Mainak Bhattacharjee and Jayeeta Roy Chowdhury 12. Trends in Financial Integration and Financial Development in Selected Asian Countries: Is there any Relationship?; Avisek Sen and Arindam Laha 13. Co-movement and Co-integration: A Study on Nifty, Dow Jones, and N225; Abhisek Saha Roy and Som Sankar Sen 14. Imported Inflation Through Exchange Rate in India; Hiranya Lahiri 15. Looking Back at Capital Account Convertibility: India-China Syndrome; Sovik Mukherjee and Asim K. Karmakar 16. Financial Integration, Its Implication for Money Laundering - An Introspection; Mainak Bhattacharjee, Jayeeta Roy Chowdhury and Dipti Ghosh 17. Economic Partnership Agreement Mexico - Japan and its Impact on Foreign Direct Investment - A Strategic Analysis; José G. Vargas-Hernández 18. A Survey of Researches on Measurement of Financial Integration; Vineet Srivastava and Arup Chattopadhyay 19. India's Export Opportunities in the ASEAN Market; Suvayan Neogi and Chandni Dawani 20. A Study on the Effect of Liberalization and Trade Integration on the Vietnamese Economy and its comparative analysis with that of India; Trupti Upadhyay and Subhankar Parbat

Rajib Bhattacharyya is an Associate Professor in Economics at Goenka College in Kolkata. He has published in various national and international journals on topics such as infrastructure, global finance, and the development of women’s entrepreneurship.