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Trade, Development and Political Economy

This volume takes fundamental issues in trade and development policy and subjects them to economic analysis in a form that is easily accessible to the non-specialist. Distinguished contributors address some of the following questions: are critics of outward orientated development wrong; what caused the financial crisis of East Asia; who supports trade and aid in the US; and, what are the conditions needed to promote growth? They also look forward to what trade policies and agreements will be needed in the future.
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Table of Contents

List of Tables List of Figures List of Abbreviations List of Acronyms Acknowledgements Notes on the Contributors Introduction; D.Lal & R.H.Snape PART I: TRADE Outer-Orientation and Development: Are Revisionists Right?; T.N.Srinivasan & J.Bhagwati Trade Policy and the Exchange Rate Regime; W.M.Corden Some Insights from Real Exchange Rates Analysis; A.C.Harberger Limiting Moral Hazard and Reducing Risk in International Capital Flows: The Choice of an Exchange-Rate Regime; R.I.McKinnon Developing Countries Trade Policies in the 1990s: Back to the Future; S.Rajapatirana Developing Country Issues for WTO Multilateral Trade Negotiations; C.Michalopoulos Assessing the Promise of a Preferential Trade Agreement; M.Michaely Reciprocity in Trade Agreements; R.H.Snape PART II: DEVELOPMENT Economic Development from an Open Economy Perspective; R.Findlay & R.W.Jones War, Peace and Growth; S.Edwards Space and Growth: A Thunen-Schumpter Perspective; H.Giersch The Virtuous Circle: Savings, Distribution and Growth Interactions in India; D.Lal & I.Natarajan PART III: POLITICAL ECONOMY Congressional Voting on International Economic Bills in the 1990s; R.E.Baldwin & M.Crowley Financial Crisis in East Asia: Underlying and Precipitating Factors; M.Gillis The Evolution of Dual Economies in East Asia; H.Hughes Does the US Foreign Economic Assistance Program Have a Future?; V.W.Ruttan Index

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ROBERT E. BALDWIN Hilldale Professor of Economics, Emeritus University, Wisconsin-Madison JAGDISH N. BHAGWATI Arthur Lehman Professor of Economics and Professor of Political Science, Columbia University W.MAX CORDEN Chung Ju Yung Professor of International Economics, Paul H. Nitze School of Advanced International Studies, John Hopkins University MEREDITH CROWLEY Department of Economics, University of Wisconsin-Madison SEBASTIAN EDWARDS Henry Ford II Professor of International Economics, University of California, Los Angeles RONALD FINDLAY Professor of Economics, Columbia University HERBERT GIERSCH President, Kiel University MALCOLM GILLIS President, Rice University ARNOLD C. HARBERGER Swift Distinguished Service Professor Emeritus, University of Chicago HELEN HUGHES Professor Emeritus, Australian National University RONALD W. JONES Xerox Professor of Economics, University of Rochester RONALD I. MCKINNON William D. Eberle Professor of Economics, Stanford University MICHAEL MICHAELY Aron and Michael Chilewich Emeritus Professor of International Trade, Hebrew University of Jerusalem CONSTANTINE MICHALOPOULOS Senior Economic Advisor, World Bank I. NATARAJAN National Council of Applied Economic Research, New Delhi SARATH RAJAPATIRANA Visiting Scholar, American Enterprise Institute VERNON W. RUTTAN Regents Professor Emeritus, University of Minnesota T. N. SRINIVASAN Samuel C. Park Jr Professor of Economics, Yale University

About the Author

DEEPAK LAL is James S. Coleman Professor of International Development Studies, University of California at Los Angeles, Professor Emeritus of Political Economy, University College London, and co-director of the Trade and Development Unit at the Institute of Economic Affairs, London. Professor Lal is the author of numerous articles and books on economic development and public policy including Methods of Project Analysis, Men and Machines, Prices for Planning and The Poverty of 'Development Economics'. - RICHARD SNAPE is Deputy Chairman of the Australian Productivity Commission. He has published widely, including most recently (with Lisa Gropp and Tas Luttrell) Australian Trade Policy 1965-1997: A Documentary History and (with Jan Adams and David Morgan) Regional Trade Agreements: Implications and Options for Australia.

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