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Books > Business & Economics > Economics > International economics > International trade
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Trade Adjustment Costs in Developing Countries - Impacts, Determinants and Policy Responses (Paperback, New)
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Trade Adjustment Costs in Developing Countries - Impacts, Determinants and Policy Responses (Paperback, New)
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This book summarizes the state of knowledge in the economic
literature on trade and development regarding the costs of
adjustment to trade openness and how adjustment takes place in
developing countries. The contributions by leading experts look at:
- the magnitude of trade adjustment costs in the presence of
frictions in factor markets; - the impacts of trade shocks and
greater trade openness; - the factors that affect the way trade,
especially exports, adjust; - trade adjustment assistance programs
in the US and compensation schemes for farmers in the EU. The book
will be relevant to academics, students, policy-makers and trade
practitioners alike. "Too often, policymakers avoid more open trade
because they fear the adjustment costs, while proponents of such
open trade overlook or dismiss them. This comprehensive set of
papers takes these costs seriously and helps us appreciate where
both sides go wrong. It provides an extremely useful survey of what
we know and what we still need to know if the benefits from trade
are to be more widespread within developing countries." - Robert
Lawrence, Albert L. Williams Professor of International Trade,
Harvard Kennedy School "Trade expansion generates huge potential
gains to developing countries, but it may also produce pains to
specific socio-economic groups. This volume by world-renowned trade
and labour experts offers the first comprehensive assessment of how
trade adjustment takes place in developing countries, what its
costs are and how policy can help mitigate them. As such it is an
important and timely contribution to the debate on the costs and
benefits of globalisation for developing countries." - Andre Sapir,
Professor of Economics, Solvay Brussels School of Economics and
Management, and former Economic Advisor to the President of the
European Commission
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