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Surfing On The Tide? Least-Developed Countries Trade During The Great Global Transition

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Listed:
  • Hubert ESCAITH

    (World Trade Organization, Switzerland)

  • Bekele TAMENU

    (World Trade Organization, Switzerland)

Abstract

The rebalancing of global demand towards large emerging countries and the resulting long-lasting cycle of high international commodity prices had a profound impact on LDC trade. This process contributed to a wider geographical diversification of LDCs' exports but led also to a greater reliance on those highly priced commodities. LDCs remain particularly vulnerable to external shocks; the 2008-2009 global crisis and the bumpy transitional recovery that followed illustrate the fragility of the recent trends. A slowdown in the growth of large emerging countries may end the commodity "super-cycle", deepening LDCs' structural trade imbalances. In such a perspective, renewed efforts towards extensive product diversification are called for. Fostering diversification has been supported for many years by preferential market access to develop and --more recently-- to emerging countries. But preferences alone are not sufficient to improve the supply-side capabilities of most LDCs. The new business models related to global value chains offer new opportunities to LDCs for export diversification and trade facilitation is one of the key components of this diversification strategy.

Suggested Citation

  • Hubert ESCAITH & Bekele TAMENU, 2014. "Surfing On The Tide? Least-Developed Countries Trade During The Great Global Transition," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 5(1), pages 32-48.
    • Handle: RePEc:srs:jtpref:v:5:y:2014:i:1:p:32-48
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    Cited by:

    1. Stamule Tănase, 2017. "Trade comparative analysis: Republic of Moldova and other relevant countries," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 11(1), pages 569-576, July.
    2. Gnangnon, Sèna Kimm & Priyadarshi, Shishir, 2016. "Has the multilateral Hong Kong Ministerial decision on duty free quota free market access provided a breakthrough in the Least developed countries' export performance?," WTO Staff Working Papers ERSD-2016-06, World Trade Organization (WTO), Economic Research and Statistics Division.

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