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| 001 | w3947 | ||
| 003 | NBER | ||
| 005 | 20211020114608.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s1992 mau fo 000 0 eng d | ||
| 100 | 1 |
_aRodrik, Dani. _919546 |
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| 245 | 1 | 4 |
_aThe Rush to Free Trade in the Developing World: _bWhy So Late? Why Now? Will it Last? / _cDani Rodrik. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c1992. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w3947 |
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| 500 | _aJanuary 1992. | ||
| 520 | 3 | _aThis paper asks why developing country policymakers have been so reluctant to undertake trade reform until the 1980s, and why many of them have embraced open trade policies so wholeheartedly since then. To answer these questions, the paper develops a heuristic index of the "political cost-benefit ratio" (PCBR) of policy reform. The PCBR is a measure of the amount of redistribution of income generated for every dollar of efficiency gain achieved by reform. Judged by this index, trade reform performs very poorly: liberalization typically leads to five dollars of income being reshuffled within the economy for every dollar of net efficiency gain. However, when the liberalization is undertaken at a point of deep macroeconomic crisis and in conjunction with stabilization policies, the value of the PCBR index falls dramatically. This explains why trade reform is politically so difficult in normal times, and why times of crisis provide an opportune moment for undertaking structural reforms. The paper concludes by evaluating the sustainability of the reforms of the 1980s. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aF13 - Trade Policy • International Trade Organizations _2Journal of Economic Literature class. |
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| 690 | 7 |
_aO10 - General _2Journal of Economic Literature class. |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
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_aWorking Paper Series (National Bureau of Economic Research) _vno. w3947. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w3947 |
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_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w3947 |
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_2ddc _cW-PAPER |
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_c344511 _d303073 |
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