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Trade & Development Series No. 30
Towards an Alternative Perspective on Trade and Industrial Policies
By S M Shafaeddin

Publisher: TWN (ISBN: 983-2729-66-1)
Year: 2006   No. of pages: 36

PRICE
US$8.00 for First World countries
US$6.00 for Third World countries
RM8.00 for Malaysia
Prices are inclusive of postage costs by airmail.

 

About the Book

Trade policy is at a crossroads, as is trade diplomacy, in the form of trade negotiations under the auspices of the World Trade Organization (WTO). The traditional import substitution industrialization (ISI) strategies, which prevailed during 1950s till 70s failed. Across-the-board trade liberalization, recommended by the International Financial Institutions (IFIs) and neoliberal scholars in the 1980s and 1990s to promote outward-oriented industrialization and development, fared no better. What is next?

Drawing on the experiences of developing countries in trade liberalization and economic reform in recent years, as well as the history of those countries which underwent early industrialization, this paper aims to develop an alternative approach to trade and industrial policy by taking a bottom-up approach.

The author presents a national policy framework (that is, a view of what is needed at the national level to catch up in the process of industrialization) and, on that basis, argues for changes in international rules.

S M SHAFAEDDIN is a (former) senior economist in the Macroeconomics and Development Policies Branch, Globalization and Development Strategy Division, of the United Nations Conference on Trade and Development (UNCTAD). He is the author of many books and articles on trade policy, including the book Trade Policy at the Crossroads: Recent Experience of Developing Countries (Palgrave Macmillan, 2005). The author can be contacted at:  MShafaM@Netscape.

Contents

1      Why is an Alternative Approach Needed?                                    

2      The Alternative Approach                                                                    

        Development-oriented trade policy                                                  

        International market structure and country specifity                          

        Co-ordination of economic activities                                                

        Nature of trade and industrial policies                                              

        The limited role of devaluation                                                         

        FDI and capital flows                                                                      

        The role of other factors                                                                  

3      Policy Implications for the International Community                 

References                

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