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Using a panel of firm-level data, this paper examines the effects of India's trade reforms in the early 1990s on firm productivity in the manufacturing sector, focusing on the interaction between this policy shock and firm and environment characteristics. The rapid and comprehensive tariff reductions-part of an IMF-supported adjustment program with India in 1991-allow us to establish a causal link between variations in inter-industry and intertemporal tariffs and consistently estimated firm productivity. Specifically, reductions in trade protectionism lead to higher levels and growth of firm productivity, with this effect strongest for private companies. Interestingly, state-level characteristics, such as labor regulations, investment climate, and financial development, do not appear to influence the effect of trade liberalization on firm productivity.

Tariff --- Production (Economic theory) --- Microeconomics --- Supply and demand --- Demand (Economic theory) --- Supply-side economics --- India --- Economic conditions --- Exports and Imports --- Taxation --- Production and Operations Management --- Empirical Studies of Trade --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Trade Policy --- International Trade Organizations --- Macroeconomics: Production --- Macroeconomics --- International economics --- Public finance & taxation --- Productivity --- Trade liberalization --- Total factor productivity --- Tariffs --- Trade policy --- International trade --- Taxes --- Industrial productivity --- Commercial policy

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This paper uses the 1991 Indian trade liberalization to measure the impact of trade liberalization on poverty, and to examine the mechanisms underpinning this impact. Variation in sectoral composition across districts and liberalization intensity across production sectors allows a difference-in-difference approach. Rural districts, in which production sectors more exposed to liberalization were concentrated, experienced slower decline in poverty and lower consumption growth. The impact of liberalization was most pronounced among the least geographically mobile, at the bottom of the income distribution, and in Indian states where inflexible labor laws impeded factor reallocation across sectors.

Exports and Imports --- Macroeconomics --- Taxation --- Poverty and Homelessness --- Trade Policy --- International Trade Organizations --- Measurement and Analysis of Poverty --- Economic Development: Human Resources --- Human Development --- Income Distribution --- Migration --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Infrastructure --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Welfare, Well-Being, and Poverty: General --- Labor Economics: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Public finance & taxation --- International economics --- Poverty & precarity --- Labour --- income economics --- Tariffs --- Trade liberalization --- Poverty --- Labor --- Consumption --- Taxes --- International trade --- National accounts --- Tariff --- Commercial policy --- Labor economics --- Economics --- India --- Income economics

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Zonder onderwerpscode: economie

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This paper examines India's experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among several proposals to strengthen the FRBMA, a framework that focuses medium-term fiscal policy on debt sustainability by the use of a medium term debt target, and annual nominal expenditure growth rules is proposed. This approach tackles the deficit bias at its core and enables countercyclical fiscal policy through automatic stabilizers. Numerical targets should be supported by structural reform measures for both revenues and expenditures, while the coverage of the fiscal rules should be expanded.

Finance, Public -- India. --- Finance. --- Fiscal policy -- India. --- Macroeconomics --- Public Finance --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- Public finance & taxation --- Fiscal rules --- Fiscal policy --- Expenditure --- Fiscal consolidation --- Public debt --- Expenditures, Public --- Debts, Public --- India

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This paper examines the role of removing obstacles to competition in product markets in raising growth and productivity. Using firm-level data from Italy during 2003–13 and OECD measures of product market regulation, we estimate the effect of deregulation in network sectors on value added and productivity of firms in these sectors, as well as firms using these intermediates in their production processes. We find evidence of a significant positive impact. These effects are more pronounced in Italian provinces with more efficient public administration, underscoring the complementarities of advancing public administration and product market reforms simultaneously.

Competition --- Deregulation --- Product management --- Capacity --- Capital and Total Factor Productivity --- Commodity exchanges --- Commodity markets --- Comparative Studies of Countries --- Cost --- Expenditure --- Expenditures, Public --- Finance --- Finance: General --- Financial markets --- General Financial Markets: General (includes Measurement and Data) --- Industrial Organization and Macroeconomics: Industrial Structure and Structural Change --- Industrial Price Indices --- Industrial productivity --- Institutions and Growth --- Macroeconomics --- Macroeconomics: Production --- National Government Expenditures and Related Policies: General --- Panel Data Models --- Production and Operations Management --- Production --- Productivity --- Public expenditure review --- Public finance & taxation --- Public Finance --- Spatio-temporal Models --- Total factor productivity --- Italy