TY - JOUR
T1 - Trade Liberalisation and Economic Development
T2 - A Critical Review
AU - Siddiqui, Kalim
PY - 2015/11/5
Y1 - 2015/11/5
N2 - This article examines the literature on trade liberalization and economic development. It also briefly looks at the theory of comparative advantage which is seen as justification for global trade liberalization under the auspices of the World Trade Organization. The study is important because once again the international institutions strongly advocate trade liberalization in the developing countries. Such policies may increase vulnerability and make the developing countries further hostages to international finance capital. It seems that trade liberalization is being presented as a suitable developmental strategy for developing countries despite weak empirical findings. It appears that with the current agenda of universal trade liberalization, not only will development space shrink but also self-determination and economic sovereignty will be undermined.
AB - This article examines the literature on trade liberalization and economic development. It also briefly looks at the theory of comparative advantage which is seen as justification for global trade liberalization under the auspices of the World Trade Organization. The study is important because once again the international institutions strongly advocate trade liberalization in the developing countries. Such policies may increase vulnerability and make the developing countries further hostages to international finance capital. It seems that trade liberalization is being presented as a suitable developmental strategy for developing countries despite weak empirical findings. It appears that with the current agenda of universal trade liberalization, not only will development space shrink but also self-determination and economic sovereignty will be undermined.
KW - Trade liberalization
KW - Economic development
KW - Developing countries
U2 - 10.1080/08911916.2015.1095050
DO - 10.1080/08911916.2015.1095050
M3 - Article
VL - 44
SP - 228
EP - 247
JO - International Journal of Political Economy
JF - International Journal of Political Economy
SN - 0891-1916
IS - 3
ER -