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has long been a means of transfer of goods and services between nations across different continents, and has played a vital role in the economic development of many emerging economies that have engaged in such activity. In a broad context, trade liberalisation is usually the case whereby a country decides to engage in open trade and adopting some of the following measures, lower trade barriers, reduce quantitative restrictions, slashing tariffs rates, depreciating domestic currency and providing trade incentives. The trade liberalisation period of India was a major phenomenon that was considered as an option during the late 1980s and fully implemented in 1991. Having gained a brief insight into the implementation and development of trade liberalisation in India, we now look to examine some of the existing literature based on the new import liberalisation policies and the effects on the performance firms and exports of goods and services.

There is still a huge existing literature based on the debate of whether import liberalisation improves the performance of domestic firms or not. Many economists argue that the new policy reforms have had a positive impact on the growth and performance of firms in India. For example Unel (2003) conducted a study on the productivity trends of manufacturing firms in operating in India post 1990s. The empirical evidence indicated that when import liberalisation and the new policy reforms were introduced, the overall level of total productivity amongst the manufacturing sector had increased significantly. The wave of new economic policies signified the importance of benefiting both domestic industries and foreign multi-national companies. In addition, trade liberalisation policies also allowed most government owned firms to be privatised, and hence foreign multinational companies and new domestic firms were able to bring in new technology and sophisticated methods of production. In addition, there was also a surge in foreign direct investment (FDI), which domestic firms benefited from through spill-over effects, Shamsavari (2007). Furthermore, trade liberalisation led to the build up of a wide range of much needed resources that rural areas and most cities were previously unable to access. For example, the use of internet and enhanced telecommunications enabled firms to communicate better and hence improve productivity.

The dynamic effects of trade liberalisation. The arguments made for and against trade liberalisation.

Epifai (2003) examines the effects of trade liberalisation and the performance of local firms and labour markets in developing countries. One of the key findings of the empirical analysis indicates that trade liberalisation has not had a significant effect on the efficiency levels of firms. In fact the results indicated a negative correlation between the start of the trade liberalisation period and efficiency of domestic firms. Therefore, overall reduction in efficiency meant that firms operating in different industries were unable to improve their competitiveness and methods of operation, and hence were at disadvantage in comparison to their foreign competitors. Similarly, research based on the effects of trade liberalisation and t本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。