Central to the following discussion is the assertion that a foreign trade policy which maximizes the static efficiency gains from trade may result in reduced dynamic or X-efficiency and thus impair a developing country’s development potential. The dominant view of the relation between...

Many developing countries are currently considering liberalisation of external capital flows. While the ultimate objective of financial opening is to raise efficiency and growth, the reform process must be carefully designed to achieve these results. A recent conference has discussed the policy...

The present financial policies of the developing countries are hardly likely to create favourable conditions for economic growth. A change can only be brought about if the financing of development projects and the imports of consumer goods can be successfully integrated in an overall plan for...

The domestic capital markets of developing countries are typically subject to serious inefficiencies. This article shows how these inefficiencies can be eliminated without necessarily provoking an adjustment crisis and indicates the measures on which emphasis must be placed in the context of...

Protectionism in international trade, in particular with regard to imports from developing countries, has increased rapidly since the beginning of the 1970s. Dieter Schumacher analyses the reasons for this development and makes some proposals for a liberalization of trade which take the...

Most developing countries have shown reluctance towards the inclusion of trade in services in the normal GATT negotiating framework, as demanded by industrialised countries. What are the reasons for their scepticism?