This paper deals with trade policy issues of particular interest to the Fund. It is motivated both by the revival of protectionist attitudes in the industrial countries and the prevalence of liberalization proposals for developing countries. In veiw of Fund concerns with the functioning of the...

"The central issue on which this paper focuses is the failure of high net savings by the "savings glut" countries to lead to fruitful investment in other countries, both in the United States and in developing countries." -- Abstract