Abstract

The sustained recovery in economic growth following the 1981–82 recession was accompanied by a rapid expansion of trade (Chart 1) and a further integration of the world economy; for the 1980s as a whole, the growth of world trade exceeded output by 50 percent. Economic performance varied among the major groups of countries: Asia experienced the most rapid growth of output and exports since 1983, followed by North America, and Western Europe; the other developing countries fared less well. The Asian region also experienced the most rapid growth of intraregional trade in recent years (Table 1). The growth of output and trade slowed in 1990–91, in part reflecting the recession in North America and the United Kingdom; however, in contrast to 1981–82, demand pressures remained strong in Germany and Japan. Among the major industrial countries, a notable development was the rapid growth of U.S. export volumes after 1985 and the slower growth in Japan’s export volumes, owing to exchange rate movements and shifts in relative cyclical positions (Table A1).

Output, Trade, and Foreign Investment

The sustained recovery in economic growth following the 1981–82 recession was accompanied by a rapid expansion of trade (Chart 1) and a further integration of the world economy; for the 1980s as a whole, the growth of world trade exceeded output by 50 percent. Economic performance varied among the major groups of countries: Asia experienced the most rapid growth of output and exports since 1983, followed by North America, and Western Europe; the other developing countries fared less well. The Asian region also experienced the most rapid growth of intraregional trade in recent years (Table 1). The growth of output and trade slowed in 1990–91, in part reflecting the recession in North America and the United Kingdom; however, in contrast to 1981–82, demand pressures remained strong in Germany and Japan. Among the major industrial countries, a notable development was the rapid growth of U.S. export volumes after 1985 and the slower growth in Japan’s export volumes, owing to exchange rate movements and shifts in relative cyclical positions (Table A1).

Chart 1.
Chart 1.

Real Trade and GDP Growth, 1960–90

(Annual changes, in percent)

Sources: General Agreement on Tarriffs and Trade; and International Monetary Fund, World Economic Outlook, various issues.
Table 1.

Developments in Regional Trade Flows, 1980–89

(Average annual percentage change in value)

article image
Source: General Agreement on Tariffs and Trade, International Trade, 1989–90.

The postrecession period also witnessed a rapid expansion of foreign direct investment (FDI). Between 1983 and 1989, it is estimated that FDI flows expanded at an annual rate of nearly 30 percent, or three times faster than merchandise trade flows. FDI, which is highly cyclical, was boosted by the sustained economic expansion during this period as well as institutional and structural factors, including the deregulation and liberalization of financial markets, shifts in comparative advantage, technological advances in international communication and transportation, and efforts to circumvent protection in major world markets. The share of services in the outward stock of FDI increased significantly during the 1980s, reflecting the growing importance of trade in services, particularly financial, retail, and professional services, which often require the establishment of overseas facilities to conduct business.18 Overall, the developing countries received a declining share of FDI flows, although investment in developing Asia, China, and Mexico grew substantially.

Adjustment pressures in the industrial countries continued during the 1980s as the fast-growing Asian and other developing countries gained market shares in exports of manufactures (Table A2). The share of industrial countries in world trade in manufactures has declined steadily during the past two decades, reflecting longer-term shifts in comparative advantage. In traditional industries with standardized technologies, such as textiles and clothing, footwear, steel, auto parts, and consumer electronics, comparative advantage has shifted to lower-wage countries. The globalization of investment and production has facilitated the transfer of technology and industry to developing countries, a process that increases the trade and welfare gains from specialization provided that countries adapt to the ongoing structural changes in the world economy.

During the 1980s, these longer-term adjustment pressures were intensified by the global recession in 1981–82 and the large swings in exchange rates and external imbalances resulting in part from the stance of macroeconomic policies in major industrial countries. Progress in addressing macro-economic imbalances has helped to alleviate pressures for protection, but trade friction remains high among the industrial countries and, with slower growth in some of the major countries, pressures for protection have recently re-emerged in sectors with excess capacity, for example, the automobile sector.

To some extent trade friction is a natural outcome of the growing importance of the external sector in industrial country economies (Table 2) and the closer integration of their economies through trade and investment flows. The industrial countries remain both the largest source and destination of foreign direct investment. While greater economic interdependence conveys many benefits, the “spider’s web” of cross-investments has intensified competition in domestic and third markets, created disputes in areas where GATT rules are nonexistent or unclear, and raised questions concerning the relevance of existing trade rules.19 It has also increased awareness of the effects of domestic policies on trade, investment, and international competition. A notable example is the U.S.-Japan Structural Impediments Initiative, which seeks to address domestic policies that are considered impediments to external adjustment, market access, and competition.

Table 2.

Merchandise Trade

(In percent of GDP)

article image
Source: General Agreement on Tariffs and Trade, International Trade, various issues.

Trade Trends in Developing Countries

For developing countries as a group the volume of trade increased significantly in the latter part of the 1980s. The growth of export volumes increased to an annual average of 6 percent in 1987–90, compared with 5 percent in 1983–86 and stagnant levels in the 1970s (Table 3). Excluding the developing countries in Europe, which include countries of Eastern Europe and the Commonwealth of Independent States, export volumes grew by over 8 percent in 1987–90, up from about 4 percent in 1983–86. The impact of liberalization measures and adjustment policies is likely to have made an important contribution to this turnaround. The rebound in import volumes was even more marked, changing from a decline in 1983–86 to an annual average growth rate of more than 6 percent in 1987–90. This compares with the real GDP growth of the developing countries of about 3 percent in 1987–90.

Table 3.

Developing Countries: Export Volumes, 1973–90

(In annual average percent changes)

article image
Source: International Monetary Fund (1991b).

Includes Eastern European countries and the former Soviet Union.

The four newly industrializing economies (NIEs) are Hong Kong, Korea, Singapore, and Taiwan Province of China.

Regional developments in the growth of export volumes have varied significantly. Export volumes of African countries increased by an average of about 3 percent a year in the 1980s, compared with declines of about 2 percent annually in 1973–82, but the turnaround in export volume growth was much weaker for sub-Saharan Africa. In Western Hemisphere countries, export volumes have increased substantially since 1987, growing at an average rate of 7 percent as their far-reaching reforms have taken hold. The growth of exports from Asia since the start of the 1970s has been dramatic; up to 1988, the newly industrializing economies (NIEs)20 have had very high growth rates of exports, but subsequently this growth has slowed and has been outpaced by the growth of exports from other open Southeast Asian countries. The only group that experienced an appreciable slowdown in export growth in the recent period was the developing countries of Europe, where trade has been disrupted by developments in the former U.S.S.R. and the transition away from regional trading arrangements.21

With respect to imports, Asian countries had the highest growth in imports in real terms among the developing regions, at 13 percent a year in 1987–90, reflecting their reliance on imported raw materials and components, the strong growth of domestic demand, and import liberalization measures. The growth rate of import volumes in Western Hemisphere countries has also increased, to 5 percent, as their economies have opened up and access to financial markets has improved. Continued economic problems in sub-Saharan Africa have resulted in little respite from the declining volume of imports. Imports of the developing countries in Europe grew steadily from the 1970s up to the end of the 1980s at 3–4 percent a year, but have fallen sharply in 1990–91.

Developing country exports of manufactured goods, which increased by 14 percent a year during the eight years to 1988, grew much more rapidly than exports of primary products (Table A3) and, by 1988, manufactures accounted for more than half of total exports. Machinery and transport equipment displayed the fastest growth at 18 percent a year; this product group is now the largest product group and about the same magnitude as consumer goods exports, the main product group in 1980. Between 1973 and 1988, the developing countries’ share of world exports of manufactured goods doubled and this was reflected across most manufactured products (Table A4); an exception is textiles and clothing where trade is controlled under the Multifiber Arrangement. Over the same period, the importance of developing countries as a market for traded goods increased substantially from 18 percent of total non-oil imports in 1973 to 30 percent in 1988. The growing importance of developing countries in world trade has been reflected in their greater role in the Uruguay Round trade negotiations. For the first time they have been asked to make concessions in the “new” areas of interest to industrial countries (services, investment, and intellectual property) in exchange for improved market access in areas where they have a comparative advantage (agriculture, textiles, and clothing).

Issues & Development in intl. Trade
  • View in gallery

    Real Trade and GDP Growth, 1960–90

    (Annual changes, in percent)

  • Anderson, Kym,The International Dimension of the Political Economy of Agricultural Policy,paper presented at a conference on International Dimensions to Structural Adjustment: Implications for Developing Country Agriculture (Paris, 1991).

    • Search Google Scholar
    • Export Citation
  • Anderson, Kym, and Rod Tyers,How Developing Countries Could Gain from Agricultural Trade Liberalization in the Uruguay Round,in Agricultural Trade Liberalization: Implications for Developing Countries, ed. by Ian Goldin and Odin Knudsen (Paris: OECD Development Center, 1990), pp. 4775.

    • Search Google Scholar
    • Export Citation
  • Australian Industry Commission, Strategic Trade Theory: The East Asian Experience (Canberra: Industry Commission, November 1990).

  • Balassa, Bela,Comparative Advantage in Manufactured Goods: A Reappraisal,Review of Economics and Statistics (May 1986), No. 68, pp. 31519.

    • Search Google Scholar
    • Export Citation
  • Balassa, Bela, and M. Noland, Japan in the World Economy (Washington: Institute for International Economics, 1988).

  • Banks, Gary, Australia’s Antidumping Experience, PRE Working Paper No. 551 (Washington: World Bank, December 1990).

  • Barton, John H., “Toward an International Antitrust Code” (mimeograph, Stanford, California: Stanford International Center for Law and High Technology, July 1, 1990).

    • Search Google Scholar
    • Export Citation
  • Baumol, William J., and Kyu Sik Lee,Contestable Markets, Trade, and Development,in World Bank Research Observer (Washington), Vol. 6, (January 1991), pp. 117.

    • Search Google Scholar
    • Export Citation
  • Bell, A.,Antidumping Practice of the EEC: The Japanese Dimension,Legal Issues of European Integration (Deventer, Netherlands: Kluwer Law and Taxation Publishers, 1987), pp. 131.

    • Search Google Scholar
    • Export Citation
  • Bergsten, C. Fred, and William R. Cline, The United States-Japan Economic Problem, Policy Analysis in International Economics 13 (Washington: Institute for International Economics, 1987).

    • Search Google Scholar
    • Export Citation
  • Bhagwati, Jagdish,Export-Promoting Strategy: Issues and Evidence,World Bank Research Observer (Washington), Vol. 3 (1988), pp. 2756.

    • Search Google Scholar
    • Export Citation
  • Bhagwati, Jagdish, The World Trading System at Risk (Hamel Hempstead, England: Harvester Wheatsheaf, 1991).

  • Blejer, M., and A. Cheasty, “Fiscal Implications of Trade Liberalization,” in Fiscal Policy in Open Developing Economies, ed. by V. Tanzi (Washington: International Monetary Fund, 1990).

    • Search Google Scholar
    • Export Citation
  • Boote, Anthony R., and Janos Somogyi, “Economic Reform in Hungary Since 1968,” IMF Occasional Paper, No. 83 (Washington: International Monetary Fund, July 1987).

    • Search Google Scholar
    • Export Citation
  • Brander, James A., and Barbara J. Spencer,Export Subsidies and International Market Share Rivalry,Journal of International Economics (Amsterdam), Vol. 18 (February 1985), pp. 83100.

    • Search Google Scholar
    • Export Citation
  • Broome, John,Recent Developments in Trans-Tasman Business Law,paper prepared for the 17th International Trade Law Conference (September 1990).

    • Search Google Scholar
    • Export Citation
  • Burniaux, Jean Marc, Dominique van der Mensbrugghe, and Jean Waelbroeck, “Economy-Wide Effects of Agricultural Policies in OECD Countries: A GE Approach Using the WALRAS Model,” in Agricultural Trade Liberalization: Implications for Developing Countries, ed. by Ian Goldin and Odin Knudsen (Paris: OECD Development Center, 1990).

    • Search Google Scholar
    • Export Citation
  • Calvo, Guillermo A., and Jacob A. Frenkel,From Centrally Planned to Market Economy,Staff Papers, International Monetary Fund (Washington), Vol. 38 (June 1991), pp. 26899.

    • Search Google Scholar
    • Export Citation
  • Canada, Bureau of Competition Policy, Europe 1992, Working Group Report on Competition Policy (Ottawa, January 1991).

  • Centre for Economic Policy Research, Monitoring European Integration: The Impact of Eastern Europe, CEPR Annual Report (London: CEPR, October 1990).

    • Search Google Scholar
    • Export Citation
  • Citrin, Daniel A., “Agricultural Policies in Japan and Their Economic Consequences,” in Staff Studies for the World Economic Outlook, World Economic and Financial Surveys (Washington: International Monetary Fund, September 1990).

    • Search Google Scholar
    • Export Citation
  • Cline, William, The Future of World Trade in Textiles and Apparel (Washington: Institute for International Economics, rev. ed., 1990).

  • Cline, William, and S. Weintraub, eds., Economic Stabilization in Developing Countries (Washington: The Brookings Institution, 1981).

  • Collins, Susan M., and Dan T. Rodrik, Eastern Europe and the Soviet Union in the World Economy, Policy Analysis in International Economics 32 (Washington: Institute for International Economics, May 1991).

    • Search Google Scholar
    • Export Citation
  • Collyns, Charles, and Steven Dunaway,The Cost of Trade Restraints: The Case of Japanese Automobile Exports to the United States,Staff Papers, International Monetary Fund (Washington), Vol. 34 (March 1987), pp. 15075.

    • Search Google Scholar
    • Export Citation
  • Corbo, Vittorio, Morris Goldstein, and Mohsin Khan, eds., Growth-Oriented Adjustment Programs (Washington: International Monetary Fund and The World Bank, 1987).

    • Search Google Scholar
    • Export Citation
  • Corden, W.M., Protection and Liberalization: A Review of Analytical Issues, IMF Occasional Paper, No. 54 (Washington: International Monetary Fund, 1987).

    • Search Google Scholar
    • Export Citation
  • Corker, Robert,The Changing Structure of Japanese Trade Flows,IMF Working Paper, WP/90/107 (Washington: International Monetary Fund, 1990).

    • Search Google Scholar
    • Export Citation
  • Deardorff, Alan V.,Should Patent Protection Be Extended to All Developing Countries?in The World Economy, Vol. 13 (Oxford: Basil Blackwell Ltd., 1990), pp. 497507.

    • Search Google Scholar
    • Export Citation
  • Deardorff, Alan V., and Robert Stern, Computational Analysis of Global Trading Arrangements (Ann Arbor, Michigan: The University of Michigan Press, 1990).

    • Search Google Scholar
    • Export Citation
  • de C. Grey, Rodney,The Conflict between Trade Policy and Competition Policy: A Comment,in Studies in Transnational Economic Law, The New GATT Round of Multilateral Trade Negotiations, Legal and Economic Problems, ed. by Ernst-Ulrich Petersmann and Meinhard Hilf, Vol. 5 (Deventer, Netherlands: Kluwer Law and Taxation Publishers, 1988), pp. 44753.

    • Search Google Scholar
    • Export Citation
  • de la Torre, Augusto, and Margaret R. Kelly, Regional Trade Arrangements, IMF Occasional Paper, No. 93 (Washington: International Monetary Fund, 1992).

    • Search Google Scholar
    • Export Citation
  • de Melo, Jaime, and David Tarr, Welfare Costs of U.S. Quotas on Textiles, Steel and Autos, PPR Working Paper, No. 83 (Washington: The World Bank, 1988).

    • Search Google Scholar
    • Export Citation
  • “Economic Declaration of the London Summit,” International Trade Reporter (Washington), Vol. 8 (July 24, 1991), p. 1128.

  • European Report, No. 1704 (1991).

  • Farhadian-Lorie, Z., and M. Katz, “Fiscal Dimensions of Trade Policy,” in Fiscal Policy, Stabilization and Growth in Developing Countries, ed. by M. Blejer and Ke-Young Chu (Washington: International Monetary Fund, 1989).

    • Search Google Scholar
    • Export Citation
  • Feenstra, R.,Automobile Prices and Protection: The U.S.-Japan Trade Restraint,Journal of Policy Modelling, Vol. 7 (Spring 1985), pp. 4968.

    • Search Google Scholar
    • Export Citation
  • Feketekuty, Geza (1991a), “Changes in the World Economy and Implications for the World Trading System” (mimeograph, Washington: Office of U.S. Trade Representative, June 1991).

    • Search Google Scholar
    • Export Citation
  • Feketekuty, Geza (1991b), “Beyond the Uruguay Round,IMF Survey (Washington), Vol. 20, (July 15, 1991), pp. 209.

  • Finger, J. Michael, “Antidumping and Antisubsidy Measures,” in The Uruguay Round: A Handbook on the Multilateral Trade Negotiations, ed. by J. Michael Finger and Andrzej Olechowski (Washington: The World Bank, 1987).

    • Search Google Scholar
    • Export Citation
  • Finger, J. Michael, and Patrick A. Messerlin, The Effects of Industrial Countries’ Policies on Developing Countries, Policy and Research Series (Washington: The World Bank, 1989).

    • Search Google Scholar
    • Export Citation
  • Finger, J. Michael, and Julio Nogues,International Control of Subsidies and Countervailing Duties,World Bank Economic Review (Washington), Vol. 1 (September 1987), pp. 70725.

    • Search Google Scholar
    • Export Citation
  • Fischer, Stanley,Issues in Medium-Term Macroeconomic Adjustment,World Bank Research Observer (Washington), Vol. 1 (July 1986), pp. 16382.

    • Search Google Scholar
    • Export Citation
  • Fischer, Stanley,Economic Growth and Economic Policy,in Growth-Oriented Adjustment Programs, ed. by Vittorio Corbo and others (Washington: International Monetary Fund and The World Bank, 1987).

    • Search Google Scholar
    • Export Citation
  • Fischer, Stanley,Comments on Lipton and Sachs,Brookings Papers on Economic Activity I (1990), p. 147.

  • Ford, Robert, and Wim Suyker,Industrial Subsidies in the OECD Economies,OECD Economic Studies (Paris), No. 15 (Autumn 1990), pp. 3781.

    • Search Google Scholar
    • Export Citation
  • Frohberg, Klaus, G. Fischer, and K.S. Parikh, “World Developing Countries Benefit from Agricultural Trade Liberalization in OECD Countries,” in Agricultural Trade Liberalization: Implications for Developing Countries, ed. by Ian Goldin and Odin Knudsen (Paris: OECD Development Center, 1990).

    • Search Google Scholar
    • Export Citation
  • Gelb, Alan H., and Cheryl W. Gray, “The Transformation of Economies in Central and Eastern Europe: Issues, Progress, and Prospects” (mimeograph, Washington: The World Bank, Country Economics Department, 1991).

    • Search Google Scholar
    • Export Citation
  • Genberg, Hans,On Sequencing Reforms in Eastern Europe,IMF Working Paper, WP/91/13 (Washington: International Monetary Fund, February 1991).

    • Search Google Scholar
    • Export Citation
  • General Agreement on Tariffs and Trade (1989a), Council Overview of Developments in the International Trading Environment, Annual Report by the Director General, C/RM/OV/1 (Geneva: GATT, 1989).

    • Search Google Scholar
    • Export Citation
  • General Agreement on Tariffs and Trade (1989b), Trade Policy Review, Australia 1989 (Geneva: GATT, March 1989).

  • General Agreement on Tariffs and Trade (1989c), Trade Policy Review, United States 1989 (Geneva: GATT, November 1989).

  • General Agreement on Tariffs and Trade (1990a), International Trade 89–90, Vols. I and II (Geneva: GATT, 1990).

  • General Agreement on Tariffs and Trade (1990b), Trade Policy Review, Sweden 1990 (Geneva: GATT, August 1990).

  • General Agreement on Tariffs and Trade (1990c), Trade Policy Review, Canada 1990 (Geneva: GATT, November 1990).

  • General Agreement on Tariffs and Trade (1990d), Trade Policy Review, Japan 1990 (Geneva: GATT, November 1990).

  • General Agreement on Tariffs and Trade (1990e), Trade Policy Review, New Zealand 1990 (Geneva: GATT, November 1990).

  • General Agreement on Tariffs and Trade (1991a), Council Overview of Developments in International Trade and the Trading System, Annual Report by the Director General, C/RM/OV/1 (Geneva: GATT, June 1991).

    • Search Google Scholar
    • Export Citation
  • General Agreement on Tariffs and Trade (1991b), Trade Policy Review, European Communities 1991 (Geneva: GATT, March 1991).

  • General Agreement on Tariffs and Trade (1991c), Council Overview of Developments in International Trade and the Trading System, Annual Report by the Director General, C/RM/OV/2 (Geneva: GATT, April 1991).

    • Search Google Scholar
    • Export Citation
  • General Agreement on Tariffs and Trade (1991d), Council Overview of Developments in International Trade and the Trading System, Annual Report by the Director General, C/RM/OV/1 (Geneva: GATT, June 1991).

    • Search Google Scholar
    • Export Citation
  • Goldberg, Linda, and Janusz Ordover, Nontariff Barriers and Trade and Competition: Theory and Evidence, Note for the Secretariat (Paris: OECD, 1991).

    • Search Google Scholar
    • Export Citation
  • Goldin, Ian, and Odin Knudsen, eds., Agricultural Trade Liberalization: Implications for Developing Countries (Paris: OECD Development Center, 1990).

    • Search Google Scholar
    • Export Citation
  • Graham, Edward M., and J. David Richardson,Global Competition Policies” (Washington: Institute for International Economics, forthcoming).

    • Search Google Scholar
    • Export Citation
  • Greer, Douglas F., Efficiency and Competition: Alternative, Complementary or Conflicting Objectives, Research Monograph 47 (Wellington, New Zealand: Institute of Economic Research Inc., March 1989).

    • Search Google Scholar
    • Export Citation
  • Grossman, Gene M., Promoting New Industrial Activities: A Survey of Recent Arguments and Evidence, OECD Economic Studies (Paris), No. 14 (Spring 1990), pp. 87125.

    • Search Google Scholar
    • Export Citation
  • Gruen, Fred Henry, Review of the Customs Tariff (Anti-Dumping) Act 1975 (Canberra, Australia: Canberra Publishing & Printing Co., March 1986).

    • Search Google Scholar
    • Export Citation
  • Harris, D., and others, Effects of the Liberalization of North Asian Beef Import Policies, ABARE, Discussion Paper No. 90.11 (Canberra, 1990).

    • Search Google Scholar
    • Export Citation
  • Havrylyshyn, Oleh, and Lanit Pritchett,Direction of Trade After Transition in East Europe: Predictions from a Gravity Model,draft (May 1991).

    • Search Google Scholar
    • Export Citation
  • Havrylyshyn, Oleh, and David G. Tarr, Trade Liberalization and the Transition to Market Economy (Washington: The World Bank, 1991).

  • Hufbauer, Gary C., Diane Berliner, and Kimberly Ann Elliott, Trade Protection in the United States: 31 Case Studies (Washington: Institute for International Economics, 1986).

    • Search Google Scholar
    • Export Citation
  • Hufbauer, Gary C., Jeffrey J. Schott, and Kimberly A. Elliott, Economic Sanctions Reconsidered: Historical Current Policy (Washington: Institute of International Economics, 2d ed., 1990).

    • Search Google Scholar
    • Export Citation
  • Huff, H. Bruce, and Catherine Moreddu,The Ministerial Trade Mandate Model,OECD Economic Studies, No. 13 (Winter 1989–90), pp. 4567.

    • Search Google Scholar
    • Export Citation
  • International Monetary Fund, “The Role of Structural Policies in Industrial Countries,” in Staff Studies for the World Economic Outlook, World Economic and Financial Surveys (Washington: International Monetary Fund, August 1989).

    • Search Google Scholar
    • Export Citation
  • International Monetary Fund, (1990a), World Economic Outlook (Washington: International Monetary Fund, May 1990).

  • International Monetary Fund, (1990b), World Economic Outlook, Staff Studies (Washington: International Monetary Fund, August 1990).

  • International Monetary Fund, (1990c), World Economic Outlook (Washington: International Monetary Fund, October 1990).

  • International Monetary Fund, (1991a), World Economic Outlook (Washington: International Monetary Fund, May 1991).

  • International Monetary Fund, (1991b), World Economic Outlook (Washington: International Monetary Fund, October 1991).

  • International Monetary Fund, The World Bank, Organization for Economic Cooperation and Development, and European Bank for Reconstruction Development, The Economy of USSR, a study undertaken in response to a request by the Houston Summit (1990).

    • Search Google Scholar
    • Export Citation
  • International Trade Reporter (Washington), Vol. 8 (October 2, 1991) and (July 17, 1991).

  • Jackson, John H., World Trade and the Law of GATT (Indianapolis: Bobbs-Merrill, 1969).

  • Jackson, John H., The World Trading System: Law and Policy of International Economic Relations (Cambridge, Massachusetts: The MIT Press, 1989).

    • Search Google Scholar
    • Export Citation
  • Jacquemin, Alexis, and others, Merger and Competition Policy in the European Community, ed. by P.H. Admiral (Oxford: Basil Blackwell, Inc., 1990).

    • Search Google Scholar
    • Export Citation
  • Japan Economic Institute, “The Structure of Japan’s Imports: Causes and Consequences,JEI Report, No. 22A (Washington, June 14, 1991).

    • Search Google Scholar
    • Export Citation
  • Japan, Ministry of Agriculture, Forestry, and Fishing, “Basic Direction of Japan’s Agricultural Policy Toward the 21st Century,Agricultural Review, Vol. 15 (1987).

    • Search Google Scholar
    • Export Citation
  • Julius, DeAnne S., Foreign Direct Investment: The Neglected Twin of Trade, Occasional Papers 33 (Washington: Group of Thirty, 1991).

  • Junz, Helen B.,Integration of Eastern Europe into the World Trading System,The American Economic Review, Papers and Proceedings, Vol. 81 (May 1991), pp. 17680.

    • Search Google Scholar
    • Export Citation
  • Kelly, Margaret, and others, Issues and Developments in International Trade Policy, IMF Occasional Paper, No. 63 (Washington: International Monetary Fund, 1988).

    • Search Google Scholar
    • Export Citation
  • Kenen, Peter B.,Transitional Arrangements for Trade and Payments Among the CMEA Countries,Staff Papers, International Monetary Fund (Washington), Vol. 38 (June 1991), pp. 23567.

    • Search Google Scholar
    • Export Citation
  • Koulen, Mark,Potential Anti-Trust Liability of Exporters Participating in Various Forms of Export Restraint Arrangements,in Studies in Transnational Economic Law, The New GATT Round of Multilateral Trade Negotiations, Legal and Economic Problems, ed. by Ernst-Ulrich Petersmann and Meinhard Hilf, Vol. 5 (Deventer, Netherlands: Kluwer Law and Taxation Publishers, 1988), pp. 43746.

    • Search Google Scholar
    • Export Citation
  • Krissoff, Barry, John Sullivan, and John Wainio,Developing Countries in an Open Economy: The Case of Agriculture,in Agricultural Trade Liberalization: Implications for Developing Countries, ed. by Ian Goldin and Odin Knudsen (Paris: OECD Development Center, 1990), pp. 15979.

    • Search Google Scholar
    • Export Citation
  • Krueger, Anne, Foreign Trade Regimes and Economic Development: Liberalization Attempts and Consequences (Cambridge, Massachusetts: Ballinger Publishing Company, 1978).

    • Search Google Scholar
    • Export Citation
  • Krueger, Anne, “Interactions Between Inflation and Trade-Regime Objectives in Stabilization Programs,” in Economic Stabilization in Developing Countries, ed. by W.R. Cline and S. Weintraub (Washington: The Brookings Institution, 1981).

    • Search Google Scholar
    • Export Citation
  • Krueger, Anne, “Problems of Liberalization,” in World Economic Growth, ed. by A. Harberger (San Francisco, California: ICS Press, 1984).

    • Search Google Scholar
    • Export Citation
  • Krueger, Anne, Maurice Schiff, and Antonio Valdés,Agricultural Incentives in Developing Countries: Measuring the Effect of Sectoral and Economy Wide Policies,in World Bank Review (Washington), Vol. 2 (September 1988) pp. 25571.

    • Search Google Scholar
    • Export Citation
  • Krugman, Paul R.,Is Free Trade Passé?Journal of Economic Perspectives, Vol. 1 (Fall 1987), pp. 13144.

  • Laird, S., and R. Vossenaar,Why We Should Be Worried About Non-Tariff Measures,Special Issue on Non-Tariff Measures (Madrid: Información Comercial Española, 1991).

    • Search Google Scholar
    • Export Citation
  • Laird, S., and Alexander J. Yeats, Quantitative Methods for Trade Barrier Analysis (New York: New York University Press, 1990).

  • Lane, Timothy D., and Elias Dinopoulos, Fiscal Constraints on Market-Oriented Reform in a Socialist Economy, IMF Working Paper, WP/91/75 (Washington: International Monetary Fund, August 1991).

    • Search Google Scholar
    • Export Citation
  • Lawrence, Robert Z.,Imports in Japan: Closed Markets or Minds?Brookings Papers on Economic Activity (U.S.), No. 2 (1987), pp. 51754.

    • Search Google Scholar
    • Export Citation
  • Lawrence, Robert Z.,Efficient or Exclusionist? The Import Behavior of Japanese Corporate Groups: Comments and Discussion,Brookings Papers on Economic Activity (U.S.), No. 1 (1991).

    • Search Google Scholar
    • Export Citation
  • Lawrence, Robert Z., and Charles L. Schultze, eds., An American Trade Strategy: Options for the 1990s (Washington: The Brookings Institution, 1990).

    • Search Google Scholar
    • Export Citation
  • Lexeconomics, Inc., The Relationship Between Competition Policy and Anti-Dumping Laws, The Canadian Experience (Ottawa, January 1990).

  • Lincoln, Edward J., Japan’s Unequal Trade (Washington: The Brookings Institution, 1990).

  • Lipton, D., and Jeffrey Sachs,Creating Market Economy in Eastern Europe: The Case of Poland,Brookings Papers on Economic Activity (U.S.), No. 1 (1990), pp. 75147.

    • Search Google Scholar
    • Export Citation
  • Low, Patrick, and Raed Safadi,Trade Policy and Pollution,World Bank Discussion Paper, No. 159 (Washington: The World Bank, May 1991).

    • Search Google Scholar
    • Export Citation
  • Marin, D.,Tying in International Trade: Evidence on Countertrade,in World Economy, Vol. 13 (September 1990), pp. 44562.

  • Matsushita, Mitsuo,Coordinating International Trade with Competition Policies,in Studies in Transnational Economic Law, The New GATT Round of Multilateral Trade Negotiations, Legal and Economic Problems, ed. by Ernst-Ulrich Petersmann and Meinhard Hilf, Vol. 5 (Deventer, Netherlands: Kluwer Law and Taxation Publishers, 1988), pp. 395432.

    • Search Google Scholar
    • Export Citation
  • McCulloch, Rachel,Investment Policies in the GATT,NBER Working Paper Series, No. 3672 (Cambridge, Massachusetts: National Bureau of Economic Research, 1991).

    • Search Google Scholar
    • Export Citation
  • McKinnon, Ronald I.,Liberalizing Foreign Trade in a Socialist Economy: The Problem of Negative Value Added,Rivista di Politica Economía (Italy), Vol. 81 (June 1991), pp. 85120.

    • Search Google Scholar
    • Export Citation
  • McKinnon, Ronald I., and D. J. Mathieson, How to Manage a Repressed Economy, Princeton Essays in International Finance, No. 145 (Princeton, New Jersey: Princeton University Press, December 1981).

    • Search Google Scholar
    • Export Citation
  • Messerlin, Patrick A.,Antidumping Regulations or Pro-Cartel Law? The EC Chemical Cases,in The World Economy, ed. by David Greenaway and John Whalley, Vol. 13, No. 4 (Oxford: Basil Blackwell Ltd., 1990), pp. 46592.

    • Search Google Scholar
    • Export Citation
  • Messerlin, Patrick A.,The Uruguay Negotiations on Subsidies and Countervailing Measures: Past and Future Constraints” (Washington: The World Bank, International Economics Department, 1989).

    • Search Google Scholar
    • Export Citation
  • Messerlin, Patrick A.,The EC Antidumping Enforcement: The Procedures,paper prepared for seminars organized by the University of Wisconsin and Free University of BrusselsAre the Fair Trade and Safeguard Laws Operating as Intended?” (Paris, May 1991).

    • Search Google Scholar
    • Export Citation
  • Michaely, M.,Trade Liberalization Policies: Lessons of Experience,paper presented at the conferenceFor a New Policy Towards Foreign Trade” (Brazil, April 1987).

    • Search Google Scholar
    • Export Citation
  • Michaely, M., D. Papageorgiou, and A. Choksi, Liberalizing Foreign Trade: Lessons and Experience in the Developing World, Vol. 7 (Oxford: Basil Blackwell Ltd., 1989).

    • Search Google Scholar
    • Export Citation
  • Michalopoulos, Constantine, and David Tarr,Trade and Payments Arrangements in Post-CMEA Eastern and Central Europe,Working Paper WPS 644 (Washington: The World Bank, April 1991).

    • Search Google Scholar
    • Export Citation
  • National Consumer Council, Trade and Competition Policy: The Consumer Interest, International Trade and the Consumer, National Consumer Council, Working Paper No. 5 (London: National Consumer Council, March 1991).

    • Search Google Scholar
    • Export Citation
  • Nicolaides, Phedon,EC Antidumping Policy,in Tokyo Club Papers, No. 4 (London: The Royal Institute of International Affairs, 1991).

    • Search Google Scholar
    • Export Citation
  • Office of the United States Trade Representative, 1991 Trade Policy Agenda and 1990 Annual Report of the President of the United States on the Trade Agreements Program (Washington: U.S. Government Printing Office, 1990).

    • Search Google Scholar
    • Export Citation
  • Organization for Economic Cooperation and Development, Competition and Trade Policies: Their Interaction (Paris: OECD, 1984).

  • Organization for Economic Cooperation and Development, The Costs of Restricting Imports: The Automobile Industry (Paris: OECD, 1987).

  • Organization for Economic Cooperation and Development, (1990a), Industrial Policy in OECD Countries, Annual Review 1990 (Paris: OECD, 1990).

    • Search Google Scholar
    • Export Citation
  • Organization for Economic Cooperation and Development, (1990b), Reforming Agricultural Policies: Quantitative Restrictions on Production and Direct Income Support (Paris: OECD, 1990).

    • Search Google Scholar
    • Export Citation
  • Organization for Economic Cooperation and Development, Agricultural Policies, Markets and Trade: Monitoring and Outlook 1991 (Paris: OECD, 1991).

    • Search Google Scholar
    • Export Citation
  • Ostrom, Douglas,The Structure of Japan’s Imports: Causes and Consequences,JEI Report, No. 22A (Washington, June 14, 1991).

  • Ostry, Jonathan D.,Trade Liberalization in Developing Countries: Initial Trade Distortions and Imported Intermediate Inputs,in Staff Papers, International Monetary Fund (Washington), Vol. 38 (September 1991), pp. 44779.

    • Search Google Scholar
    • Export Citation
  • Ostry, Sylvia, Governments and Corporations in a Shrinking World: Trade and Innovation Policies in the United States, Europe, and Japan (New York: Council on Foreign Relations Press, 1990).

    • Search Google Scholar
    • Export Citation
  • Papageorgiou, D., A. Choksi, and M. Michaely, Liberalizing Foreign Trade in Developing Countries: Lessons of Experience (Washington: The World Bank, 1990).

    • Search Google Scholar
    • Export Citation
  • Richardson, J. David,Empirical Research on Trade Liberalization with Imperfect Competition: A Survey.OECD Economic Studies, No. 12 (Spring 1989), pp. 750.

    • Search Google Scholar
    • Export Citation
  • Roningen, Vernon O., and Praveen Dixit,Assessing the Implications of Freer Agricultural Trade,Food Policy (U.K.), Vol. 15 (February 1990), pp. 6775.

    • Search Google Scholar
    • Export Citation
  • Roningen, Vernon O., and Alexander J. Yeats,Nontariff Distortions of International Trade: Some Preliminary Empirical Evidence,Weltwirtschaftliches Archiv (Kiel), Vol. 112, No. 4 (1976).

    • Search Google Scholar
    • Export Citation
  • Royal Institute of International Affairs, “Anti-Competitive Effects of Trade Policy” (London: Royal Institute of International Affairs, 1991).

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey D.,Trade and Exchange Rate Policies in Growth-Oriented Adjustment Programs,in Growth-Oriented Adjustment Programs, ed. by Vittorio Corbo, Morris Goldstein, and Mohsin Khan (Washington: International Monetary Fund and The World Bank, 1987), pp. 291325.

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey D.,Conditionality, Debt Relief, and the Developing Country Debt Crisis,NBER Working Paper, No. 2644 (Cambridge, Massachusetts: National Bureau of Economic Research, 1988).

    • Search Google Scholar
    • Export Citation
  • Sandrey, R., and R. Reynolds, eds., Farming Without Subsidies, New Zealand’s Recent Experience (Wellington: New Zealand Ministry of Agriculture and Fisheries, 1990).

    • Search Google Scholar
    • Export Citation
  • Saxonhouse, Gary R.,The Micro- and Macroeconomics of Foreign Sales to Japan,in Trade Policy in the 1980s, ed. by William R. Cline (Washington: Institute for International Economics, 1983), pp. 259304.

    • Search Google Scholar
    • Export Citation
  • Saxonhouse, Gary R.,What’s Wrong with Japanese Trade Structure?Seminar Discussion Paper 166, Research Seminar in International Economics (Ann Arbor, Michigan: University of Michigan, 1985).

    • Search Google Scholar
    • Export Citation
  • Singer, H.W., and Parvin Alizadeh,Import Substitution Revisited in a Darkening External Environment,in Policies for Development: Essays in Honor of Gamani Corea, ed. by S. Dell (London: MacMillan Press, 1988), pp. 6086.

    • Search Google Scholar
    • Export Citation
  • Smith, A.,The Market for Cars in the Enlarged European Community,CEPR Discussion Paper Series (U.K.), No. 360 (December 1989).

  • Smith, Murray G.,Antidumping and Countervailing Duty Laws in North America: Negotiating Multilaterally, Trilaterally and Bilaterally” (mimeographed, Ottawa, Canada: University of Ottawa, Faculty of Law, May 11, 1991).

    • Search Google Scholar
    • Export Citation
  • Starrels, John M., Assisting Reform in Central and Eastern Europe (Washington: International Monetary Fund, 1991).

  • Stoeckel, Andrew, David Pearce, and Gary Banks, Western Trade Blocs: Game, Set or Match for Asia-Pacific and the World Economy? (Canberra, Australia: Centre for International Economics, 1990).

    • Search Google Scholar
    • Export Citation
  • Stern, Robert M.,Symposium on TRIPs and TRIMs in the Uruguay Round: Analytical and Negotiating Issues: Introduction and Overview,in The World Economy, ed. by David Greenaway and John Whalley, Vol. 13, No. 4 (Oxford: Basil Blackwell Ltd., 1990), pp. 49396.

    • Search Google Scholar
    • Export Citation
  • Strategico, Inc., “Year Two of the Canada-U.S. Free Trade Agreement—Making It Work” (Ottawa, December 1990).

  • Stubbs, K.,Industry Needs a Strong Anti-Dumping Safety Net,Topic Paper 6 (Melbourne: Australian Chamber of Manufactures, 1989).

  • Subramanian, Arvind,TRIPs and the Paradigm of the GATT: A Tropical, Temperate View,in The World Economy, ed. by David Greenaway and John Whalley, Vol. 13, No. 4 (Oxford: Basil Blackwell Ltd., 1990), pp. 50921.

    • Search Google Scholar
    • Export Citation
  • Tarr, David G., A General Equilibrium Analysis of the Welfare and Employment Effects of U.S. Quotas in Textiles, Autos, and Steel (Washington: U.S. Federal Trade Commission, 1989).

    • Search Google Scholar
    • Export Citation
  • Tarr, David G.,The Demise of the CMEA: Implications for Eastern Europe” (mimeograph, Washington: The World Bank, July 1991).

  • Tarr, David G., and Morris E. Morkre, Aggregate Costs to the United States of Tariffs and Quotas on Imports: General Tariff Cuts and Removal of Quotas on Automobiles, Steel, Sugar, and Textiles (Washington: U.S. Federal Trade Commission, 1984).

    • Search Google Scholar
    • Export Citation
  • Thomas, Vinod, K. Matin, and John Nash, Lessons in Trade Policy Reform (Washington: The World Bank, 1990).

  • Trela, Irene, and John Whalley,Global Effects of Developed Country Trade Restrictions on Textiles and Apparel,Economic Journal (December 1990), pp. 11901205.

    • Search Google Scholar
    • Export Citation
  • Tyers, Rod, and Kym Anderson, Disarray in World Food Markets (Cambridge and New York: Cambridge University Press, 1992).

  • United Nations Conference on Trade and Development, Handbook of Trade Control Measures of Developing Countries, 1987 (Geneva: UNCTAD, 1987).