From gaining its independence in 1947 until only recently, India was a centrally planned economy, complete with five year plans. With the end of the Gandhi dynasty and the move to privatization of a wide range of industries, there are many changes which have and will affect the development of Indian economics. With its exploding population rate and complex political relations (both internally and with its neighbors) there are also many political complications to tie down the progress of this gigantic nation. In this work, renowned economist Jagdish Bhagwati provides a lucid overview of Indian...

The greatest strength of this thoroughly revised and expanded edition of Lectures on International Trade is its rigorous algebraic and geometric treatment of the various models and results of trade theory. The authors, who now include Arvind Panagariya, offer both policy insights and empirical applications. They have added nine entirely new chapters as well as new sections to several existing chapters (e.g., a greatly expanded treatment of the growing theory of preferential trade agreements).