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Articles 181 - 182 of 182
Full-Text Articles in International Trade Law
Exchange Control, Liberalization, And Economic Development, Jagdish N. Bhagwati, Anne O. Krueger
Exchange Control, Liberalization, And Economic Development, Jagdish N. Bhagwati, Anne O. Krueger
Faculty Scholarship
This paper highlights results of the National Bureau of Economic Research's (NBER) research project on exchange control, liberalization and economic development from 1970-1973. Initial adoption of exchange controls was generally an ad hoc response to external events. The optimal resource allocation dictum – that the marginal cost of earning foreign exchange should be equated with the marginal cost of saving foreign exchange – was generally abandoned in favor of saving foreign exchange at all costs. An export-oriented development strategy generally entails relatively greater use of indirect, rather than direct, interventions. There is considerable evidence from the individual country studies that …
International Trade And Economic Expansion, Jagdish N. Bhagwati
International Trade And Economic Expansion, Jagdish N. Bhagwati
Faculty Scholarship
The recent literature on the effects of economic expansion on international trade has been concerned with two principal problems: the impact of the expansion on the terms of trade; and the resultant change in the welfare of the trading nations. The solutions offered, however, are not fully satisfactory. Thus H. G. Johnson [5) and W. M. Corden [3], who attempt to tackle the first problem, succeed only in establishing the direction, as distinct from the extent, of the consequential shift in the terms of trade. In so far as the full impact of the expansion on the terms of trade …