The importance of international trade in the process of economic
development and its association with economic growth have received
increasing attention. A number of factors explain this renewed
emphasis on trade. The most obvious is the success of many
developing countries that have adopted outward-oriented development
strategies. This success became increasingly visible by the early
1980s in many fast-growing countries of the Pacific Rim. Strong
performance in these countries stood in sharp contrast to earlier,
unsuccessful experiences of inward-oriented, import-substitution
strategies in some of the same countries, and to the relatively
poor performance of other developing countries that did not embrace
International Monetary Fund
|Country of origin:
David T. Coe
||Electronic book text
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