Trade-Restricting Effects of Exchange Rate Regimes: Implications for Developed-Developing Country Trade Negotiations

  • Ramon L. Clarete
  • John Whalley


Reciprocal bargaining among developed countries under GATT focuses on both an explicit and implicit bargain. Explicit bargains involve mutual reductions in real-side barriers (tariffs). The implicit bargain is that negotiating parties will maintain full convertibility of domestic currencies so that reductions in real-side trade barriers will have an effect on trade.


Exchange Rate Monetary Policy Foreign Exchange Exchange Rate Regime Trade Restriction 
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© John Whalley 1989

Authors and Affiliations

  • Ramon L. Clarete
  • John Whalley

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