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When Pakistan became an independent country a serious obstacle to rapid industrialization was an almost complete lack of industrial accountants. The author tells how a small group of men set out to create—with valuable aid from Canada—a new profession.
In a period when external financial aid to developing countries is increasing less rapidly than before, one question emerges ever more sharply: how can developing countries mobilize all possible domestic resources for financing their industrialization?
This paper provides a theoretical model to address the issue of how industrialization affects the structure of international trade. Considering both horizontal and vertical product differentiation, the model shows that intra-industry trade increases when product quality improvement emerges in a developing country and when a difference in relative factor endowments between a developed and a developing countries shrinks. To promote understanding of the conclusions of the model, the paper also uses actual trade data between Japan and Indonesia and between Japan and Korea.
Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund. Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street, Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201 This compilation of summaries of Working Papers released during July-December 1994 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period.
International Monetary Fund. External Relations Dept.
This paper highlights that agreement on an important package of reforms of vital significance to the future of the international monetary system was reached at a meeting of the Interim Committee of the Board of Governors of the IMF on the International Monetary System in Kingston, Jamaica, on January 7–8, 1976. The reforms include a substantial quota increase for almost all members, as well as an increase in access to the IMF’s resources for all member countries in the period prior to implementation of the increase in their IMF quotas, and some other amendments.