Integrating Poor Countries into the World Trading System
Economic Issues, April 6, 2006
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- Integrating Poor Countries into the World Trading System
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Bibliographic details
- Published: April 6, 2006
- Series: Economic Issues
- DOI: https://doi.org/10.5089/9781589064454.051
Summary
- Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries’ trade policies and their development strategies.
- Greater trade openness promises faster growth for poor countries but also presents risks for those with small and undiversified economies.
- The pamphlet explores research by Fund staff into the nature and magnitude of these risks and proposes targeted policy solutions to ease adjustments and encourage developing countries to choose fuller participation in the world trading system.
Key findings and analysis
- Trade openness is associated with faster growth prospects for poor countries.
- Small and undiversified economies face specific risks from greater trade openness; the pamphlet analyzes the nature and magnitude of these risks.
- The research emphasizes aligning trade policies with development strategies to maximize benefits and manage vulnerabilities.
Policy recommendations and targeted solutions
- Propose targeted policy solutions designed to:
- Ease adjustment costs associated with increased trade openness.
- Encourage developing countries to opt for fuller participation in the world trading system.
- Emphasize strengthening links between trade policy and development strategy as a central policy priority.
Subjects and keywords (as listed)
- Subjects: Exports, Imports, International trade, Revenue administration, Tariffs, Taxes, Trade facilitation, Trade liberalization
- Keywords: Central Africa, country, developing country, East Africa, EI, Europe, Exports, Imports, liberalization, liberalization episode, Middle East, multilateral trade liberalization, regime, Southeast Asia, Tariffs, trade, trade competitiveness, trade expansion, Trade facilitation, trade facilitation initiative, Trade liberalization, trade liberalization episode, trade openness, trade-distorting support, world trade system
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