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has been cited by the following article:

• TITLE: Do Measures of Economic Reforms Complement Each Other?

  AUTHORS: Jonaki Sen Gupta, Ranjanendra Narayannag, Rakhi Banerjee

  KEYWORDS: Trade Liberalization, Welfare, Capital Inflow

  JOURNAL NAME: Modern Economy, Vol.8 No.2, February 28, 2017

  ABSTRACT: Globalization is a package of interrelated measures including tariff liberalization and encouragement to FDI. The question to be posed is whether these measures produce similar effects reinforcing each other or they have contradictory effects. We use a three-sector general equilibrium model to show that foreign capital inflow produces unfavorable effects on unemployment and welfare while tariff liberalization produces positive effects on these variables.