Download or read book Trade Liberalization and Economic Reform in Developing Countries written by S. M. Shafaeddin and published by . This book was released on 2005 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade Liberalization and Economic Reform in Developing Countries written by S. Mehdi Shafaeddin and published by . This book was released on 2005 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The paper analyses economic performance of a sample of developing countries that have undertaken trade liberalization and structural reforms since the early 1980s with the objective of expansion of exports and diversification in favour of manufacturing sector. The results obtained are varied. Forty per cent of the sample countries experienced rapid expansion of exports of manufactured goods. In a minority of these countries, mostly East Asian, rapid export growth was also accompanied with fast expansion of industrial supply capacity and upgrading. By contrast, the experience of the majority of the sample countries, mostly in Africa and Latin America, has not been satisfactory. In fact, half of the sample, most of them low income countries, have faced de-industrialization. Even in some cases where manufactured exports grew extremely fast, e.g. Mexico, MVA did not accelerate and upgrading of the industrial base did not take place. Slow growth of exports and deindustrialization has also been accompanied by increased vulnerability of the economy, particularly the manufacturing sector, to external factors particularly as far as reliance on imports are concerned. Generally speaking, in the case of the majority group, trade liberalization has led to the development and re-orientation of the industrial sector in accordance with static comparative advantage, with the exception of industries that were near maturity. For example, in Latin America the expansion of exports has taken place mainly in resource based industries, the labour intensive stage of production, i.e. assembly operations, and in a few cases in the automobile industry. A number of industries which had been dynamic during the import substitution era continued, however, to be dynamic in terms of production, exports and investment. The industries which were near maturity when the reform started, such as aerospace in Brazil, benefited from liberalization as the competitive pressure that emerged made them more efficient. The reform programmes designed by IFIs also failed to encourage private investment, particularly in the manufacturing sector; the I/GDP ratio fell even where the inflow of FDI was considerable--e.g. in the case of Latin America. Trade liberalization changed the structure of incentives in favour of exports, but the balance between risks and return changed against the manufacturing sector. A major difference between the 'minority' and the 'majority' groups is that in the case of the former, i.e. East Asian NIEs, at least until recently economic reform, particularly trade liberalization, has taken place gradually and selectively as part of a long-term industrial policy, after they had reached a certain level of industrialization and development. By contrast, the 'majority group' embarked, in the main, on a process of rapid structural reform including uniform and across-the-board liberalization. The author argues that no doubt trade liberalization is essential when an industry reaches a certain level of maturity, provided it is undertaken selectively and gradually. Nevertheless, the way it is recommended under the Washington Consensus, it is more likely to lead to the destruction of the existing industries, particularly of those that are at their early stages of infancy without necessarily leading to the emergence of new ones. Further, any new industry that emerges would be in line with static, rather than dynamic, comparative advantage. The low income countries, in particular, will be locked in production and exports of primary commodities, simple processing and at best assembly operation or other labour intensive ones with little prospect for upgrading"--United Nations Conference on Trade and Development web site.
Download or read book Industrial and Trade Policy Reform in Developing Countries written by Ramesh Adhikari and published by Manchester University Press. This book was released on 1992 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade Liberalization written by Romain Wacziarg and published by Edward Elgar Publishing. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.
Download or read book Economic reform in developing countries written by Lyn Squire and published by Edward Elgar Publishing. This book was released on 2008-05-30 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers insights into the process of economic reform in developing countries. It is organized around three factors that are critical to the success of any reform. According to Nobel Laureate Amartya Sen, these key dimensions are Reach, Range, and Reason. 'Reach' refers to the ability of reform to be person-centered and evenhanded, reaching all individuals in society. 'Range' considers the institutional reforms and policy changes necessary to implement change and the possible ripple effects on other policies and populations. Finally, 'Reason' captures the importance of constantly asking why a particular reform has been selected.
Download or read book Market Dynamics and Productivity in Developing Countries written by Khalid Sekkat and published by IDRC. This book was released on 2010 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: To what degree are trade liberalization, productivity, and economic growth correlated? Can economic policies designed to encourage competition and curtail industry protection result in large-scale improvements, such as increased innovation and reduced unemployment? After 20 years of economic reform in the Middle East and North Africa (MENA), economic performance is still lagging behind many regions of the world. Even in those countries that are the most advanced in implementing reforms, including Egypt, Jordan, Morocco and Tunisia, industries with low productivity growth and high market power continue to dominate. Moreover, the termination of the Multi-Fiber Agreement and the negotiations concerning further liberalization of trade in agricultural products (under the framework of the World Trade Organization) put these and other countries under pressure of fierce competition from emerging nations. Recent empirical evidence on the impact of reforms in a number of developing countries shows that such persistence of inefficiency and market power is specific to MENA. Showcasing in-depth analyses from Jordan, Morocco, Tunisia, and Turkey (with comparative data from Asia and Latin America), this book focuses on the dynamics of firm entry and exit to help explain the low productivity of the region. The results suggest a number of policy recommendations designed to foster competition, which, in turn, would contribute to innovation, productivity growth, and improved return on capital investments. The book not only reveals important correlations among policy and market factors in MENA, but suggests fruitful areas of research in other developing regions of the world.
Download or read book Market Dynamics and Productivity in Developing Countries written by Khalid Sekkat and published by Springer. This book was released on 2009-12-14 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: To what degree are trade liberalization, productivity, and economic growth correlated? Can economic policies designed to encourage competition and curtail industry protection result in large-scale improvements, such as increased innovation and reduced unemployment? After 20 years of economic reform in the Middle East and North Africa (MENA), economic performance is still lagging behind many regions of the world. Even in those countries that are the most advanced in implementing reforms, including Egypt, Jordan, Morocco and Tunisia, industries with low productivity growth and high market power continue to dominate. Moreover, the termination of the Multi-Fiber Agreement and the negotiations concerning further liberalization of trade in agricultural products (under the framework of the World Trade Organization) put these and other countries under pressure of fierce competition from emerging nations. Recent empirical evidence on the impact of reforms in a number of developing countries shows that such persistence of inefficiency and market power is specific to MENA. Showcasing in-depth analyses from Jordan, Morocco, Tunisia, and Turkey (with comparative data from Asia and Latin America), this book focuses on the dynamics of firm entry and exit to help explain the low productivity of the region. The results suggest a number of policy recommendations designed to foster competition, which, in turn, would contribute to innovation, productivity growth, and improved return on capital investments. The book not only reveals important correlations among policy and market factors in MENA, but suggests fruitful areas of research in other developing regions of the world.
Download or read book The Political Economy of Trade Reform in Emerging Markets written by Peter Draper and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . few if any other recent volumes offer a historical perspective on evolving trade policy in several countries, this well-written, well-edited volume. . . is suitable for graduate and research libraries. M. Larudee, Choice This book is a refreshing reminder of the benefits of unilateral trade liberalisation in countries whose leaders dare. An important story told with clarity and authority. Ross Garnaut, The Australian National University, Australia That trade liberalization is good for emerging market economies, and not just for the rich ones, is now widely accepted by both economists and policy-makers. But the question remains: how can these reforms be implemented in practice? The answer to that important question lies in understanding the political economy of each reforming country. This book makes a splendid contribution to our understanding of this issue by examining the experience of several countries. It is therefore an important book to be read by, not just students and researchers, but also policy-makers worldwide. Jagdish Bhagwati, Columbia University, US This timely book brings fresh analysis to the important issue of trade policy reform in emerging markets. The subject matter and its significance are comprehensively introduced with a review of developing country liberalization since the 1980s providing an analytical framework for the seven country case studies that follow. The case studies (Australia, Brazil, Chile, India, Malaysia, New Zealand, and South Africa) cover a wide variety of political, historical and economic issues, but all make clear the important role that crisis, or the threat of it, plays in meaningful trade policy reform. This is of particular relevance in the current global financial crisis. These studies, together with the conclusions which are drawn from them, show how important the trade liberalization agenda remains in the 21st century. Written by a combination of both experts and practitioners, this highly topical book will make productive reading for policy makers concerned with trade policy in developed and developing countries, as well as scholars working in trade policy. Postgraduate students studying international business, international relations, economics, politics, and international law should not be without this book.
Download or read book Cutting the Gordian Knot of Economic Reform written by Leonardo Baccini and published by Oxford University Press, USA. This book was released on 2015 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past two decades, governments across the developing world have implemented many liberal economic reforms. Cutting the Gordian Knot of Economic Reform shows that international institutions -- formal agreements that govern policy formation in member states -- made possible some of the most important reforms in developing countries. It takes a comparative look at developing countries that have engaged in preferential trading agreements with the United States and European Union to develop a theory of when and how leaders enter into international institutions to effect economic reform.
Download or read book Trade Liberalization and Poverty written by Neil McCulloch and published by Centre for Economic Policy Research. This book was released on 2001 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Openness to trade is a key element of economic policy; continuing extreme poverty in developing countries is a disgrace. This Handbook examines how concerns about the world's poor should affect our attitude towards trade liberalization. Part I draws on economic analysis and practical experience to construct a framework to analyse the links between trade liberalization and poverty. It shows policy-makers how to identify the critical features in their economies so they can ensure that the poor benefit from liberalization. Part II explores the reform of particular sectors -- agriculture, services, etc., and particular instruments of trade policy -- export subsidies, anti-dumping measures, etc. It presents an economic analysis of each type of reform, shows the likely outcome for the poor, and discusses the issue's status on the World Trade Organization's agenda. Book jacket.
Download or read book The Global Political Economy of Trade Protectionism and Liberalization written by Tony Heron and published by Routledge. This book was released on 2012 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the social, political and economic impacts of trade, paying particular attention to the textiles and clothing sector with respect to developing countries.
Download or read book Evaluating Economic Liberalization written by David Greenaway and published by Springer. This book was released on 1999-07-23 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Liberalization - economic policy reforms to render economies more market-orientated - is a central issue in most countries of the world. This important contribution to the literature of liberalization analyzes theoretical issues and experiences of reform. Existing approaches to evaluating the effects of reform are reviewed, difficulties of measuring liberalization are discussed, the complex ways in which reforms can impact on individuals and groups are illustrated, and the importance of political concerns are addressed. The final four chapters offer detailed case studies of Pakistan, Mozambique, Vietnam and Sri Lanka.
Download or read book Growth Before and After Trade Liberalization written by Gonzalo Salinas and published by World Bank Publications. This book was released on 2006 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major exogenous disruptions, the authors note that post-reform economic growth was 1.2 percentage points higher than before the reforms. This is remarkable considering that pre-reform periods were characterized by highly expansionary state policies and large external borrowing, and the crisis years that preceded trade liberalization in the comparisons are eliminated. Through multivariate fixed effects estimations the authors calculate that annual per capita GDP growth rates increased by up to 2.6 percentage points after the trade reforms, compared to a counterfactual that takes into consideration the evolution of several growth determinants. Moreover, trade liberalization has been followed by an acceleration of growth in investment, exports of goods and services, and manufacturing exports, and as opposed to common belief, outward orientation did not lead to significant deindustrialization and actually seems to have increased export diversification. Growth acceleration occurred irrespective of income per capita level and was quite significant in Sub-Saharan Africa. As expected, small countries benefited most from the reforms.
Download or read book Growth and Structural Reforms written by Mr.Thierry Tressel and published by International Monetary Fund. This book was released on 2009-12-01 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in middle-income countries. In contrast, we do not find any systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is explained by improvements in measured aggregate TFP growth, not by higher aggregate investment. We present evidence that variation in the quality of property rights helps explain the heterogeneity of the effectiveness of financial and trade reforms in developing countries. The evidence suggests that sufficiently developed property rights are a precondition for reaping the benefits of economic reform. Our results are robust to endogeneity bias and a number of alternative specifications.
Download or read book The Effect and Strategy of China s Trade Liberalization written by Kunwang Li and published by . This book was released on 1997 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Structural Reforms and Economic Performance in Advanced and Developing Countries written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2009-10-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Download or read book Best Practices in Trade Policy Reform written by Vinod Thomas and published by World Bank Publications. This book was released on 1991 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: It was recognized by many developing countries in the 1980s that integration with the global economy is necessary for economic development and technological progress. Efforts to liberalize trade were controversial. A unique body of evidence on developing country trade liberalization will examine why outcomes have varied from one country to another. The political economy of trade liberalization and the interaction among trade and domestic reform, macro-economic stability, and export development is examined using: (a) cross-sectional data, (b) country studies, (c) and interviews. The sequencing of reforms and implications for multilateral trade negotiations, foreign direct investment, and regional integration schemes is an additional consideration. The emphasis is on practical problems-economic and political-and recommendations of how policies can be designed and implemented to yield stronger and more sustainable results.
