Abstract
A keystone of modern development strategy in general, and of structural adjustment policy in particular, is trade liberalization. Derived from familiar trade theory, liberalization aims to achieve productive efficiency and international competitiveness, enabling a more rapid rate of growth than under the previous strategy of protected industrialization. The evident welfare gains of free trade to the global economy are accompanied by increased aggregate income for those developing countries that become integrated to the world market.
I would like to thank Giorgio Perosino for assistance with the research upon which this chapter is based.
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© 2003 Institute of Social Studies
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FitzGerald, E.V.K. (2003). Investment and Labour Markets under Trade Liberalization. In: Global Markets and the Developing Economy. International Finance and Development Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230502369_5
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DOI: https://doi.org/10.1057/9780230502369_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-51223-2
Online ISBN: 978-0-230-50236-9
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