Trade Policy and Development
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Abstract
Abstract The‘neo-classical resurgence’ in development economics, about which Ian Little has written so incisively (Little, 1982), has had its greatest influence as a guide to policies affecting international trade, agriculture, and project appraisal. This chapter concentrates on trade policy. In considering the effects of trade policy on a country’s development, we shall proceed from a summary of the ‘old export pessimism’ and experience with import- substitution policies (Section 1), to assessment of measures for export promotion (Section 2), and the superior performance of outward- orientated economies (Section 3), and finally to a critique of the ‘new export pessimism’ (Section 4). Our modest objective is to synthesize and sum up the essential features of mainstream thought on this subject.