Fluctuations in the level and pattern of international trade have a profound effect on the economies of less developed countries. This book explores the relationship between international trade and globl development through a series of essays which relate advances in trade theory to key issues in trade policy. The book, first published in 1991, is in honour of Jagdish Bhagwati and reflects the range and significance of his contributions to international economics.
Part I Introduction 1. Improvement of the international trade environment in order to stimulate economic growth in developing countries 2. Is free trade passe after all? Part II Trade, protection and political economy 3. Perspectives on trade and trade policy 4. Strategy wars: the state of debate on trade and industrialization in developing countries 5. Why voluntary export restraints? A historical analysis 6. Quota auctions and adjustment assistance: an international perspective 7. International transactions in services and developing countries Part III Foreign investment 8. Foreign direct investment and intra-firm trade: evidence from Japan 9. Quid pro quo foreign investment and policy intervention 10. Export promotion, import substitution and direct foreign investment in less developed countries Part IV International economic co-ordination 11. The obstacles to macro-economic policy co-ordination in the 1990s and an analysis of international nominal targeting 12. Threats to the world trading regime: protectionism, unfair trade et al