A FESTSCHRIFT IN HONOUR OF DR.DEBESH BHOWMIK
The book-"A Festschrift in honour of Dr.Debesh Bhowmik" edited by Dr.Subhajit Pahari ( and others) ,Prof of Symbiosis Centre for Management Studies, Nagpur India ,is being released by Prof. Sameer Pingle, Director of SCMS today. The book consists of 22 articles including 7 articles from foreign economists (Spain, Australia,Peru,SriLanka,Zambia,Canada,) and 15 articles from Indian Professors.
CONTENTS
[1] The World Exchange Rate Market: Empirical Evidence
…Prof. Gonzalo Perez-Seoane
[2] Critique of Piketty’s Capital in the Twenty-First Century from a heterodox perspective
… Prof.Dante A. Urbina
[3] The schizophrenic understanding of money in economics
-Professor Steve Keen
[4] An empirical analysis of the relationship between unemployment rate and inflation rate: A test of the Phillips curve hypothesis in Zambia
…..Fitzgerald Witika
[5] The impact of Budget deficits on Inflation: The case of Zambia
…Dr. Francis M Muma and Otis Chirwa
[6] Shift-Left Testing – Test Pyramid Model
… Phartheeb Tanjore Kandasamy
[7] Symbiosis Between Nature-Based Tourism and Nature Conservation
…Dr. Suresh Kanesh
[8] An Empirical Analysis on Women Empowerment in Uttar Pradesh… Dr. Niharika Srivastava[9] Enactment of The New Policy Reform In International Trade: A Study On Multilateral Trade... Deobojyoti Kumar[10] Hospitality Post Pandemic Employment & Revenue Generation Strategy
…Asik Rahaman Jamader, and Piyali Parveen
[11] Education, Gender and Empowerment: A Sociological Discourse
..Dr. Kaushik Chattopadhyay
[12] Analysis of factors affecting paddy yield in two selected villages of Mohammad bazar C.D. Block in Birbhum District, West Bengal
…Dr.Mrinmoy Saha and Dr.Tarun Kumar Mondal
[13] Changes in patterns of female employment and returns to education in West Bengal
…Dr. Dipika Basu, Dr. Pratha Pratim Roy, Sulata Hembrem and Dr. Arun Kumar Nandi
[14] A Relocation Framework of Bachelor Degree Education into Recreation Along With Leisure Studies Outcome Variables after Covid-19
….Asik Rahaman Jamader
[15] Trends And Patterns Of Agricultural Credit And Its Role in Bihar
…Dr.Aruni Kumar
[16] Sustainability’s in the Textile Colleges: Frustration in the Education Sectors.
…..Dr.Bibekananda Basu
[17] How Far the Foreign Policy and Public Policies under Modi Regime are Instrumental in Making India a Global Super power: An Authoritative Exploration
- Dr. Keshab Chandra Mandal
[18] Bamboo Crafts and Tribal’s of Odisha
…Dr. Aruna Kumar Nishanka
[19] Wrenching Rupture: Re-visiting Gendered Violence in Select Partition Short Stories
…Dr Shilpi Basak
[20] Is there a gender gap in literacy rates still existing in India? A State Level Analysis in India
…….. Dr.Susobhan Maiti, Anindita Jana, Dr.Tanushree Gupta and Surendranath Mandi
[21] Exploring the Impact of Agriculture Sector Reforms in India: The Road Ahead
……Dr. Subhajit Pahari
[22] COVID-19 and Indian Economy : Behaviour of Price Index
……Dr.Debesh Bhowmik
DIMENSIONS AND PATTERNS OF NAFTA-EUROPEAN UNION TRADE
THEME-II,PAGE 185-192
DIMENSIONS AND PATTERNS OF NAFTA-EUROPEAN UNION TRADE
Dr.Debesh Bhowmik
Abstract
In this paper,author studied the trends, prospects and determinants of EU-NAFTA trade during 1990-2016 showing cointegration and vector error corrections of world export share and import shares of EU and NAFTA with their determinants like export and import concentration index,export and import diversification index and trade balance indicator. Moreover, Euro Area’s trade with NAFTA from 1995-2016 was also explained by export and import concentration index and trade correlation indices. The paper concludes that world export share and import shares of both EU and NAFTA during 1990-2016 have been declining significantly with stationary process in which all of them have significant structural breaks downward. World export and import shares of EU from 1990-2016 are significantly negatively related with export and import diversification index but not significantly related with concentration and trade balance index. They are cointegrated with one cointegrating equation each having stable VECM and one significant error correction.World export and import shares of NAFTA are negatively related with concentration index, diversification index and trade balance index and found positive relation among trade balance index and import share of NAFTA. Both the export and import of EA to NAFTA during 1990-2014 have been significantly declining at the rates of 4.25% and 4.0% per year respectively.Euro Area’s export share is negatively related with export concentration index of EA to NAFTA and they are cointegrated with significant error correction process in stable and nonstationary VECM. Similarly,Euro Area’s import share is negatively related with import concentration index of EA to NAFTA with significant cointegration and error correction process in stable and nonstationary VECM . Lastly , trade correlation index of EA-NAFTA trade in 2012 in comparison to 2005 suggests that EA-NAFTA trade has been improved or better off.
JEL codes—C32,F02,F14,F15
Key words – Trade co-operation,EU-NAFTA trade agreement,EU-NAFTA trade,EU-NAFTA trade indicators
The paper concludes that world export share and import shares of both EU and NAFTA during 1990-2016 have been declining significantly in which all of them have significant structural breaks downward. World export and import shares of EU from 1990-2016 are significantly negatively related with export and import diversification index but not significantly related with concentration and trade balance index. They are cointegrated with one cointegrating equation each having stable VECM and one significant error correction.World export and import shares of NAFTA are negatively related with concentration index, diversification index and trade balance index and found positive relation among trade balance index and import share of NAFTA. Both the export and import of EA to NAFTA during 1990-2014 have been significantly declining at the rates of 4.25% and 4.0% per year respectively.Euro Area’s export share is negatively related with export concentration index of EA to NAFTA and they are cointegrated with significant error correction process in stable and nonstationary VECM. Similarly,Euro Area’s import share is negatively related with import concentration index of EA to NAFTA with significant cointegration and error correction process in stable and nonstationary VECM. Lastly , trade correlation index of EA-NAFTA trade in 2012 in comparison to 2005 suggests that EA-NAFTA trade has been improved or better off.
IMPACT OF INDO-ASEAN EXPORT ON ASEAN INTEGRATION
PAGE-118-124,THEME-3,ARTICLE NO-38
IMPACT OF INDO-ASEAN EXPORT ON ASEAN INTEGRATION
Dr.Debesh Bhowmik
(Retired Principal and Associated with The Indian Econometric Society)
Abstract
In this paper, author endeavors to show the impact of Indo-ASEAN export on trade and financial integration of ASEAN taking intra export share, FDI inflows, REER ,GDP growth rate and openness of ASEAN as determinants during 1994-2017 and also tried to show the relationship between Indo-ASEAN export , export concentration index and export diversification index of ASEAN during the same period through Johansen co-integration test and vector error correction model and Granger causality test. The paper concludes that Indo-ASEAN export has been stipulating at the rate of 13.89% per year during 1994-2017 having three upward structural breaks in 2002, 2005 and 2010 with two co-integrating equations with FDI inflows, intra-export share, REER, GDP growth rate, and openness of ASEAN. There is long run causality from FDI inflows, intra-export share, REER, GDP growth rate and openness of ASEAN to Indo-ASEAN export since co-integrating equation 2 tends to equilibrium with the speed of adjustment of 23.52% per year. There is short run causality running from intra-export share of ASEAN to Indo-ASEAN export but other variables have no short run causality. Long run causality was visible from export concentration index and export diversification index of ASEAN to Indo-ASEAN export but they have no short run causality.
Key words-Indo-ASEAN export, short run causality, long run causality, co-integration, vector error correction model, trade integration
JEL classification –C22,F14,F15,F36
The paper concludes that Indo-ASEAN export has been stipulating at the rate of 13.89% per year during 1994-2017.It has three upward structural breaks in 2002, 2005 and 2010 respectively. Indo-ASEAN export has two co-integrating equations with FDI inflows, intra-export share, REER, GDP growth rate, and openness of ASEAN during 1994-2017.VECM showed that Indo-ASEAN export influenced negatively to FDI inflows and intra export share of ASEAN insignificantly. On the other hand, Indo-ASEAN export is positively related with REER significantly and positively related with GDP growth rate and openness insignificantly during 1994-2017.Cointegrating equations explained that there is long run causality from FDI inflows, intra-export share, REER, GDP growth rate and openness of ASEAN to Indo-ASEAN export since co-integrating equation 2 tends to equilibrium with the speed of adjustment of 23.52% per year. There is short run causality running from intra-export share of ASEAN to Indo-ASEAN export but other variables have no short run causality. Bi-directional causality was observed between export concentration index and export diversification index of ASEAN and there is uni-directional causality from Indo-ASEAN export to export concentration index of ASEAN. Long run causality was visible from export concentration index and export diversification index of ASEAN to Indo-ASEAN export but they have no short run causality.