The developing countries have to be involved more closely in the international division of labour if they are to be able to play their part in a New International Economic Order. Increased competition in semifinished and finished products and internal substitution processes will pose new...

A huge body of empirical and theoretical literature has emerged on the relationship between foreign exchange (FX) uncertainty and international trade. Empirical findings about the impact of FX uncertainty on trade figures are at best weak and often ambiguous with respect to its direction. Almost...