Trade,growth and industrialisation: issues, experiences and policy challenges

Trade,growth and industrialisation: issues, experiences and policy challenges

Published Jan 2005

Author

Y. Akyüz

Publisher

Focus themes

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How developing countries more successfully will be able to climb the development ladder.

While the author notes that rapid and full integration of developing countries into the global economy through liberalisation of trade and investment flows has over the past couple of decades dominated policy reforms, he argues that neither theory or empirical evidence suggest any linkages between liberalisation and growth.

Although developing countries share in world manufacturing exports, the author argues that incomes from these exports do not match this dynamism. To advance on the development path, the author argues that developing countries must undertake industrial upgrading and invest in higher-value-added production. The author also offers possible solutions to this problem and sets out policy suggestions on how developing countries more successfully can participate in international trade and production systems.

The issues addressed in the book include:

  • trade liberalisation: issues at stake
  • trade liberalisation and economic growth
  • trade liberalisation and balance of payments
  • trade and industrialisation – manufactured exports and value-added, and a stylised picture of diversity in trade and industrial development
  • pros and cons of participation in international production networks
  • competition and the fallacy of composition
  • policy challenges

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