ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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India s Trade Balance during the Seventies

India's Trade Balance during the Seventies G C da Costa IN her note (EPW, May 10) Neela Mukherjee has vehemently attacked my article on India's commodity trade balance over the period 1970-71 to 1981-82 (EPW, March 8-15). According to her "its theoretical formulations and empirical findings are weak and incoherent" and the article "has failed to provide any consistent analysis of India's trade balance" over the period considered. Neela Mukherjee's critique falls into three categories: First, the theoretical formulation of the problem; second, the approach to testing and the interpretation of the findings; finally, the conclusions. I will first, to the best of my understanding, indicate very briefly her objections at these three levels. In the latter part of this note I will try to answer them.

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