This section deals with two questions: whether initial macroeconomic conditions influenced the extent of trade liberalization during the 1990s, and whether trade liberalization was associated in identifiable ways with the macroeconomic performance of ESA countries.26 The description below does not purport to assign causality: there is the customary difficulty of isolating the impact of macroeconomic conditions on trade liberalization from other factors, and vice versa. The analysis aims at highlighting the stylized aspects of the relation between macroeconomic conditions and trade liberalization, drawing upon the experience of individual countries.
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