Long run Relationship between Trade in Goods and Trade in Services of India

Arunhari Panickers Villa

MPRA Paper from University Library of Munich, Germany

Abstract: The exchange of goods, services and capital across the borders of different countries is known as international trade. This type of trade is important as it promotes and encourages the growth, movement and purchase of different goods and services from one country to another. This means that what one country does not have it can purchase from another country. International trade has economic, political and social importance for the countries engage in it and it has been on the rise in the recent years. With the advent of globalization and subsequent opening up of trade, the international trade pattern has acquired a new shape across geographies. An increase in both economic and trade liberalization paid off well for India, as its trade to GDP ratio has increased last few years. The present study made an attempt to estimate long run relationship between trade in goods and trade in services of India. The study found that there exist a long run relationship between trade in goods and trade in services of India.

Keywords: Trade in Goods; Trade in services; Johansen Cointegration Test (search for similar items in EconPapers)
JEL-codes: F19 (search for similar items in EconPapers)
Date: 2017-07-10
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