Growth and Instability in India's Foreign Trade: A Comparative Analysis of Pre and Post-Liberalization Periods

The paper examines the question of growth and instability in exports and imports of India over a two-decade period ranging from 1980-81 to 2001-02. Regression results relating to these two variables have been reported both in rupee and dollar terms. The paper also attempts a Granger Causality test between growth and instability of exports and imports in India over a longer, period namely 1949-50 - 2001-02. The results however remain inconclusive.