Professor of Economics, Department of Commerce, University of Calcutta, E-mail: ratankumarghosal@rediffmail.com
JEL Classification No: F32; F36; F43; C22.
This paper examines the trend in the behavior of the external sector of Indian Economy and its impact on economic growth since 1950-51. The dynamics of the external sector is captured in terms of the behavior of some indices like the index of trade integration; financial integration; net external position (NEXT); equity integration and also by studying the behavior of the current account balances, the capital account balances and the position of the net foreign asset (NFA) as well as international reserves since independence.
Economic Growth, Trade Integration, Financial Integration, Equity integration, Net External Position, Cointegration, Vector Error Correction
