This collection of fifteen essays by eminent economist Deepak Nayyar provides an unusual blend of theory and policy, of applied research and empirical work, and of the world economy and India. The volume begins with the limited domain of trade theory and ends with the wide canvas of globalization. This paperback edition includes a new Preface that focuses on developments since 2008 when the book was first published. The essays are grouped into four thematic clusters: economic theory, world trade, the Indian experience, and globalization and development. The first sets of essays consider issues that have been largely neglected in mainstream economics: free trade doctrine, trade in services, and international labour movements. The second part on world trade examines the much debated issues of transnational corporations, East-South trade, regional trade blocs, and the multilateral trading system. The third part highlights the nature of changes in India's engagement with the world economy over six decades. The fourth part explores different aspects of globalization in the wider context of the world economy: historical experience, national development, international migration, and global governance.
Deepak Nayyar is Professor of Economics, Jawaharlal Nehru University, New Delhi.
Table of Contents
Preface to the Paperback Edition Preface Introduction I. Economic Theory 1. Free Trade: Why, When, and for Whom? 2. The Political Economy of International Trade in Services 3. International Labour Movements, Trade Flows, and Migration Transitions: A Theoretical Perspective II. World Trade 4. Transnational Corporations and Manufactured Exports from Poor Countries 5. East-South Trade 6. Implications of NAFTA for South Asia 7. Some Reflections on the Uruguay Round and Trade in Services III. Indian Experience 8. India's Balance of Payments 9. India's Trade with the Socialist Countries 10. Capital Controls and the World Financial Authority: What Can We Learn from the Indian Experience? 11. The Internationalization of Firms from India: Investment, Mergers, and Acquisitions IV. Globalization and Development 12. Globalization, History, and Development: A Tale of Two Centuries 13. Globalization and Development Strategies 14. International Migration, Globalization, and Economic Development 15. Governing Globalization: The Existing System and the Missing Institutions Acknowledgements Index