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| Author: | Hare, P. |
| Title: | Trade Policy During the Transition: Lessons from the 1990s |
| Journal: | World Economy
2001 : APR, VOL. 24:4, p. 483-512 |
| Index terms: | TRADE POLICY TRANSITION ECONOMIES EXCHANGE RATES |
| Language: | eng |
| Abstract: | This paper reviews the trade policies pursued by transition economies during the 1990s, looking separately at trade in goods and services, foreign exchange market liberalisation and the exchange rate, and foreign direct investment. Then the author presents a brief statistical overview of what actually happened in the region in regard to the direction, composition and scale of trade. The author also outlines theoretical approaches to projecting trade flows, considers how far the region has moved towards a new equilibrium configuration of trade, and examines issues of competitiveness. Based on the previous results, the concluding section of this paper sketches what ideal trade policies might look like under a variety of transition conditions and draws out relevant lessons from the 1990s experience of trade policy. |
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