Both free trade and protectionism have been proffered as prescriptions for Third World development but neither has carried universal conviction. Neither import substitution nor export promotion strategies have come up to expectations. The author advocates a limited measure of delinking from the...

Economic independence and a New Economic Order were international political issues long before the North-South controversy was heard of. They were set out as objectives in the USA as early as the beginning of the 19th century. There are striking parallels, even in phraseology and argumentation,...

In this paper we explore the popular but controversial idea that developing countries benefit from abandoning policy neutrality vis-a-vis trade, FDI and resource allocation across industries. Are developing countries justified in imposing tariffs, subsidies, and tax breaks that imply distortions...

The main objectors to a link being established between special drawing rights (SDRs) and the financing of development have in the past been the industrial countries. They have been pointing out that SDRs were created for other purposes - more effective control over international liquidity - and...