Trade Policies and Economic Development
The availability of foreign exchange constitutes a major constraint on the pace of economic development in many developing countries. This constraint has its roots in (a) unfavourable conditions of external demand for a number of major export products of the developing countries; (b) structural rigidities and imbalances characteristic of the economies of the these countries ; and (c) in a number of cases, a failure to pursue appropriate economic policies. Usually all the three factors listed above operate simultaneously, though the relative importance of any single factor varies not only from country to country but also from one time period to another in the same country.
KeywordsExchange Rate Foreign Exchange Natural Rubber Trade Policy Import Control
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