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.
|Number of pages||20|
|Journal||International Journal of Political Economy|
|Publication status||Published - 5 Nov 2015|
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- Department of Accounting, Finance and Economics - Senior Lecturer in Economics
- Huddersfield Business School
- Northern Productivity Hub - Member