This paper examines the relationship between macroeconomic objectives of controlling inflation and trade-regime objectives in stabilization programs of developing countries. It is seen that there need be, in principle, no close relationship between the two, as a crawling peg exchange-rate policy...

In the mid-1950's, Turkey was a much richer country than Korea. With about the same population, Turkish GNP was about three times that of Korea, Turkish exports were fifteen times those of Korea, and the Turkish savings rate was much higher than Korean. By 1980, the situation was dramatically...

In this paper, the evolution of thought regarding protectionist trade policies in developed and in developing countries is examined and contrasted. In the developing countries distrust of markets and a belief in the infant industry argument led to highly protectionist trade regimes. The...

In this paper it is argued that there is an important protectionist bias inherent in free trade agreements which is not present in custom unions. In any customs union or free trade agreement, one of the critical issues concerns "rules of origin." In a free trade agreement rules of origin have an...

This paper analyzes a nominal anchor exchange rate policy as a domestic distortion, in the tradition of international trade theory. It is shown that, in addition to the problems of sustainability and exit pinpointed in the exchange rate literature, a nominal anchor exchange rate policy, while in...

This paper assesses the theoretical and empirical basis for American labor union leaders' contention that imports have been a big source of job loss in the United States. It is shown, first, that identification of job losses "due to imports" is exceptionally difficult because economic growth...

Ideas with regard to trade policy and economic development have changed radically since the 1950s. Then and now, it was recognized that trade policy was central to the overall design of policies for economic development. But in the early days, there was a broad consensus that trade policy for...