EXPORT PROMOTION THROUGH BONUS IMPORTS: AN APPRAISAL OF INDIA'S EXPERIMENT

The purpose of writing this paper is first to describe and then to appraise an experiment in the field of export promotion which was recently tried in India. It will be of interest to many, particularly in underdeveloped countries faced with chronic balance of payments deficits under the pressure of their development programmes, to know how this experiment in export promotion worked and what results, if any, it achieved in India.     

THE EFFECTS OF THE 1996 U.S.‐CANADA SOFTWOOD LUMBER AGREEMENT ON THE INDUSTRIAL USERS OF LUMBER: AN EVENT STUDY

In this article, we analyze whether the Softwood Lumber Agreement between the United States and Canada imposed significant economic costs on industries that use softwood lumber in the United States. To ascertain this impact, we use an event study. Our event study analyzes variations in the stock prices of lumber‐using firms listed at the major stock markets in the United States. We find that the news of events leading to the Softwood Lumber Agreement had significant negative impacts on the stock prices of industries using softwood lumber. The average reduction of stock prices for our sample of firms was approximately 5.42% over all the events considered. (JEL F13, F23)