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Perspectives on Trade and Development

Developing countries typically have wage rates that are a small fraction of those in developed countries. Trade theories traditionally attributed this difference to two factors: the relative abundance of the labor supply in the two countries and the relative value of the goods produced. These factors, however, inadequately explain the full differential in almost every comparison of developed and developing countries since the second World War.

Providing an important and original perspective for understanding both the development process and policies aimed at raising the standard of living in poorer nations, Perspectives on Trade and Development gathers sixteen of Anne O. Krueger’s most important essays on international trade and development economics. Her essays discuss the relationships between trade strategies and development; the links between factor endowments, developing countries’ policies, and trade strategies in terms of their growth; the role of economic policy in development; and the international economic environment in which development efforts are taking place. Her analyses are extended to trade and development policies generally, and account for a substantial part of the residue unexplained by past theories. This insightful contribution by an influential scholar will be essential reading for all scholars of trade and development.

384 pages | 6.00 x 9.00 | © 1990

Economics and Business: Economics--International and Comparative

Table of Contents

Part I - Introduction
1. Perspectives on Trade and Development
Part II - Links between Trade and Development
2. Growth, Distortions, and Patterns of Trade among Many Countries
3. Comparative Advantage and Development Policy Twenty Years Later
Part III - Determinants of Income Levels and Growth
4. Factor Endowments and Per Capita Income Differences among Countries
5. Trade Policy as an Input to Development
6. The Relationships between Trade, Employment, and Development
7. The Political Economy of the Rent-Seeking Society
Part IV - Policy Problems
8. Interactions between Inflation and Trade-Regime Objectives in Stabilization Programs
9. Problems of Liberalization
10. Some Economic Costs of Exchange Control: The Turkish Case
11. An Empirical Test of the Infant-Industry Argument
12. The Importance of Economic Policy in Development: Contrasts between Korea and Turkey
Part V - The International Environment for Development
13. The Role of the World Bank as an International Institution
14. Aspects of Capital Flows between Developing and Developed Countries
15. Development Thought and Development Assistance
16. The Developing Countries’ Role in the World Economy

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