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Books > Business & Economics > Economics > International economics > International trade
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Managing Openness - Trade and Outward-Oriented Growth after the Crisis (Paperback)
Loot Price: R1,480
Discovery Miles 14 800
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Managing Openness - Trade and Outward-Oriented Growth after the Crisis (Paperback)
Series: Trade and Development
Expected to ship within 18 - 22 working days
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The global financial crisis triggered a broad reassessment of
economic integration policies in developed and developing countries
worldwide. The crisis-induced collapse in trade was the sharpest
ever since World War II, affecting all countries and all product
categories. A huge shock to the trading system, combined with
severe macroeconomic instability, makes it natural for policymakers
to call into question the basic underlying assumptions of trade
liberalization and openness. In particular, outward-oriented or
export-led growth strategies are being reassessed as openness is
increasingly associated with greater volatility. However, it is
crucial not to lose sight of the dynamic benefits that openness can
offer. Examples include technology transfer, increased competitive
pressure that reduces markups and improves efficiency, and
economies of scale. The real question is how to manage
outward-oriented strategies so as to maximize the benefits of
openness while minimizing risks. This book aims to contribute to
this important and ongoing policy debate, bringing together recent
empirical work on the trade collapse, its causes and consequences,
and the broader trade policy agenda in the post-crisis environment.
It addresses critical policy issues revolving around the topic of
outward-oriented growth strategy, including policy instruments that
help manage risks associated with outward-orientation, lessons
learned from the crisis for particular countries and regions, and
how emerging trade policy issues such as climate change,
commodities, global production networking, and migration affect the
prospects for recovery and outward-oriented growth.
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