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In spite of all protestations and exhortations it is a fact that trade liberalization, the modern version of free trade, is caught in a crisis. Professor Detlef Lorenz is here analysing the causes of this crisis and suggesting alternatives for a future liberalization policy.
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The importance of non-tariff barriers in restricting free trade has risen during recent years. Due to their selectivity non-tariff barriers may distort trade even more significantly than tariffs. Developing countries and economies in transition are often most negatively affected.
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The volatility of financial markets has attracted a lot of attention in recent years. However, while particular episodes, such as the bond market turbulence in 1994 and considerable exchange rate movements in 1995, may give the impression that markets have become more volatile, there appears to...
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The world economy has for some time been characterised by a growing generalised trend towards regionalism. This is … building, as in the thirties, but as a regional grouping that is open towards the world economy, it appears to have something …
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The newly industrialising countries (NICs) in the East Asian region are beginning to be faced with serious problems: problems involved not only in moving from an easy phase of import substitution to a more difficult second stage, but also in progressing from the first to the second more...
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