The opposition to a liberal stance on imports of manufactures from developing countries is growing as certain specific groups of products made in these countries prove increasingly competitive and the industrialized countries suffer from persistent high unemployment. Model computations for the...

The fact that increasing importance is being attached to foreign trade under the new Chinese leadership must not be mistaken for automatic expansion of the importation of foreign goods. Foreign trade will, as before, have only a complementary function in the economic development of China. For...

Negotiations for an extension of the Lomé Convention of February 28, 1975 (Lomé I) began - almost unnoticed by the public - on July 24, 1978. An analysis of the experiences with the Lomé Convention and the demands and amendments presented by the contracting parties is offered in the following...

Since the turn of the century, aid flows to Africa have increased on average and become more volatile. As a result, policymakers, particularly in post-stabilization countries where inflation has only recently been brought under control, have been increasingly preoccupied with how best to deploy...

We develop a model to analyze the macroeconomic effects of a scaling-up of aid and assess the implications of different policy responses. The model features key structural characteristics of low-income countries, including varying degrees of public investment efficiency and a learning-by-doing...

This paper surveys the economic literature on the scaling-up of aid to Africa. It provides a checklist of issues that need to be considered when preparing a long term macroeconomic projection for a country involving the assumption of a significant increase in aid. Such scaling-up scenarios are...

We study the role of the exchange rate regime, reserve accumulation, and sterilization policies in the macroeconomics of aid surges. Absent sterilization, a peg allows for almost full aid absorption — an increase in the current account deficit net of aid—delivering the same effects as those...

The Lomé Convention with its 63 signatory states in Africa, the Caribbean and the Pacific (ACP) represents the centre-piece of the EC's development policy. The current agreement, Lomé II, expires on February 28, 1985, and negotiations on Lomé III already began in Luxembourg on October 6,...