Trade Liberalization and Indian Agriculture
Contents: Foreword. Preface. 1. Economic reforms and Indian agriculture: a contextual framework. 2. Price transmission in agricultural markets and supply response: review of the pre and post liberalization periods. 3. Trade policy reforms and openness of Indian agriculture: analysis at the commodity level. 4. World and domestic price transmission in agricultural commodities: analysis at the state level. 5. Temporal and spatial changes in the cropping patterns and magnitude of crop diversification. 6. Macroeconomic policies and agriculture supply response: a commodity level analysis. 7. Resilience of Indian agriculture to changes in price and macroeconomic policies. 8. Conclusion and policy implications. Annexures. References. Index.
India's economic reforms and the structural adjustment programme of 1991 brought to the centre stage of policy and analysis several important issues that the agricultural sector in India would face in a globalizing world. The setting up of the WTO and developments in the multilateral trading rules as per the Uruguay Round Agreement on agriculture added new dimensions to this. That any policy change at the global level would have significant implications for trade which in turn could impact the performance of agriculture became apparent in manifold ways.
Pertinently how do trade liberalization globalization measures macro economic and sector specific policies affect relative prices investment exports imports and hence producers incentives for higher production and growth. What is the magnitude of response of agriculture to liberalization in these policies. To what extent is agriculture resilient to fluctuations in the global prices and other divergences. What measures can be initiated to neutralize the adverse effects of shocks that may arise in a free trade economy and maintain an incentive structure output and exports. This study examines these issues and many more during the pre and post liberalization periods using empirical models.
The book will benefit researchers students and policy makers interested in agriculture economics international trade development policy analysis and applied econometrics. (jacket)
