Sunder Ramaswamy

Bio: Sunder Ramaswamy is an academic researcher. The author has contributed to research in topics: PPML & Free trade. The author has an hindex of 1, co-authored 1 publications receiving 1 citations.

Evaluating Asian Free Trade Agreements: What Does Gravity Model Tell Us?:

Abstract: This paper evaluates the performance of Free Trade Agreements (FTAs) by analysing the determinants of trade flows of Asian economies for a panel of 31 countries during 2007–2014 using a Gravity mod...

Trade, Climate and Energy: A New Study on Climate Action through Free Trade Agreements

Abstract: Efforts to tackle climate change are taking place on multiple fronts. This includes trade, an increasingly important defining feature of the global economy. In recent years, free trade agreements (FTAs) have become the primary mechanism of trade policy and diplomacy. This study examines the development of climate action measures in FTAs and discusses what difference they can make to tackling climate change. Its primary source research is based on an in-depth examination of FTAs in force up to 2020. This paper is structured around a number of research questions forming around three main inter-related areas of enquiry. Firstly, to what extent are these provisions in FTAs essentially derivative of energy’s connections with climate change, and thus part of a wider trade–climate–energy nexus? Secondly, what kinds of climate action are FTAs specifically promoting, and how effective a potential positive impact may we expect these to have? Thirdly, are certain climate action norms being promoted by trade partners in FTAs and if so, then who are the norm leaders, what is motivating them, and to what extent are they extending their influence over other trade partners? In addressing these questions, this study offers new insights and analysis regarding a potentially important emerging trend in the trade–climate–energy nexus. Its international political economy approach and latest empirical research also provide a further distinctive contribution to knowledge in this inter-disciplinary area, developing new comprehensions of the relationship between trade, climate action and energy.

Evaluating the belt and road initiative effects on trade and migration: Evidence from the East African community

Abstract: This paper uses the new panel data structural gravity equations to examine the impact of China's Belt and Road Initiative in two dimensions, namely trade and migration on participating countries. By leveraging the Poisson pseudo-maximum likelihood estimator with fixed-effects to address both endogeneity and omitted variables, our results highlighted the importance of accounting for the regional economic integration in Africa, Europe, and Asia. The model assesses 65 countries, including 30 sub-Saharan economies from the period 2000–2018. The findings of our study indicate that migration has a significant impact on the flow of bilateral trade. We also observed that the East African Community regional trade agreements have a significant negative effect on intra-blocs trade under the Belt and Road Initiative. Therefore, a comprehensive policy agenda needs to be developed to enhance migration and trade-promoting policies among the participating economies of Africa to engender African growth from a win-win perspective.

Determinants and Potential of Seafood Trade: Evidence from a Transitional Economy

Abstract: This study, by employing an augmented gravity model under the Poisson pseudo-maximum-likelihood (PPML) estimation, aims to scrutinise the determinants and potential of seafood exports from Vietnam—a transitional and emerging economy to the global market over the period of 2000–2018 at both aggregate and sectoral levels. With remarkable growth over the years, Vietnam has become the largest seafood exporter in Southeast Asia. The country’s seafood exports have been diversified in terms of export structure and export markets. The estimation results show that the size of economies and market development from importers are the main factors that are driving Vietnam’s total seafood exports. At the sectoral level, the magnitude of the effects of income per capita significantly differs among the subsectors of seafood. We find that the impacts of factors such as region, access to the World Trade Organization (WTO) and the free trade agreement (FTA) establishment on Vietnam’s seafood exports are heterogeneous. We found that there is still room for the expansion of Vietnam’s seafood exports to some market destinations. This article suggests a dynamic strategy to increase Vietnam’s seafood exports in the coming years. JEL Codes: F1, F14, Q1

Macroeconomic Determinants of India’s Participation in Global Value Chains: An Empirical Evidence

Abstract: Global value chains (GVCs) have significantly changed the world trade scenario. Many developed countries gained benefits through production fragmentation, and it has worked as hope for the developing world. India is also one of the participants but its share in global GVC space is very limited. The recent pandemic comes with a lot of opportunities for India to emerge as a new GVC hub in the Asia-Pacific region. This requires the study of factors determining the extent of India’s participation in GVCs. The present article is an attempt in this direction wherein various factors determining the forward and backward participation levels are identified. At a macro level, the study found the positive role of technology advancement, domestic capital and industrial capacity in promoting the level of participation in GVCs, while the role of net FDI inflows is found to be negative. This highlights the requirement for conducive policies to reap the maximum benefits associated with foreign capital. India is already observing the benefits and growing, but still, it has to cover a long path. The time has come to make an image of the brand India in the world and reap maximum benefits from the GVC participation. JEL Codes: F14, F40, O24

Vietnam’s Seafoood Imports Under the Impact of the United Kingdom–Vietnam Free Trade Agreement

Abstract: This paper assesses the potential impacts of the UK-Vietnam Free Trade Agreement (UKVFTA) on Vietnam's seafood imports from the UK by adopting the SMART model based on two scenarios. The simulation results reveal that the UKVFTA will result in a significant increase in Vietnam's seafood imports from the UK, implying that the UK will be still one of the most important seafood for Vietnam in the upcoming time. When Vietnam also extends its coverage of tariff elimination to ASEAN+5 including China Japan, South Korea, India, Australia—New Zealand having signed an FTA with ASEAN to which Vietnam is a country member, the reduction in Vietnam’s seafood imports from the UK will occur but it will be very inconsiderable. Besides, in both scenarios, trade creation effects will be higher than trade diversion effects meaning that the UKVFTA can raise the welfare of Vietnam. Based on these results, the paper ends by drawing out some implications for the Vietnamese government to be better implementing the ambitious UKVFTA.