Developing Policy Inputs for Efficient Trade and Sustainable Development Using Data Analysis

Mini, K G (2012) Developing Policy Inputs for Efficient Trade and Sustainable Development Using Data Analysis. In: World Trade Agreement and Indian Fisheries Paradigms: A Policy Outlook, 17-26 September 2012, Kochi.

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Abstract

Trade forms a vital part of the world economy. The analysis of data on trade and related parameters plays a pivotal role in developing policy inputs for efficient trade and sustainable development. It is evident that the success of any type of analysis depends on the availability of the suitable type of data. In general, time series, cross sectional and pooled data are the three types of data available for trade analysis. Time series data are characterized by observations collected at regular intervals over a period of time while cross-sectional data are data on one or more variables collected at the same point of time. The pooled data is a combination of time series and cross-sectional data. For example, panel data, which is a special type of pooled data is used to study the relationship between trade flows and trade barriers over time. In recent years, the quantitative and qualitative analysis of trade and the effects of policies have grown sharply. This was due to the advances in the theoretical and analytical techniques as well as increased computational and data processing power of computers.

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