The Role of World Trade Policy: a Latin American Viewpoint

  • Santiago P. Macario
Part of the International Economic Association Series book series (IEA)


The economic development of any country is essentially its own responsibility and must basically depend upon its own economic policy and internal efforts. There are, however, considerable limitations both on a country’s freedom of decision and action in the field of economic policy and on the effectiveness of its actions — particularly in respect of external trade policy. Such restraints are an inevitable result of the interplay of international economic relations; they imply limitations to national sovereignty at the economic, and therefore also at the political, level, at least vis-à-vis the exterior.


World Trade Trade Policy Economic Dependence Contracting Parti International Monetary System 
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  1. 1.
    Concerning the rationale of development assistance, see John Pincus, Trade, Aid and Development: The Rich and Poor Nations (McGraw-Hi11,1967), particularly pp. 13–14;Google Scholar
  2. and Robert Asher, Development Assistance in the Seventies — Alternatives for the United States (The Brookings Institution, Washington, D.C., 1970).Google Scholar
  3. See also Patricia Blair, ‘The Dimensions of Poverty’ in International Organization Vol. 23 (summer 1969), on the humanitarian or ethical considerations of such assistance.Google Scholar
  4. 2.
    This provisional application is one of the main weaknesses of the GATT. On this subject, and more generally for a legal analysis of the General Agreement, see K. W. Dam, The GATT Law and International Economic Organization (The University of Chicago Press, 1970)Google Scholar
  5. and J. H. Jackson, International Trade and the Law of GATT; a Legal Analysis of the General Agreement on Tariffs and Trade (Indianapolis, 1969).Google Scholar
  6. (Reprinted in R. Cox and H. Jacobson, The Anatomy of Influence (New Haven, Yale University Press, 1971).)Google Scholar

Copyright information

© International Economic Association 1973

Authors and Affiliations

  • Santiago P. Macario

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