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Economic Cooperation among Developing Countries

In: Trade and Development Policies

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  • Alexander J. Yeats

Abstract

A major element in the overall development strategy pursued by the United Nations Conference on Trade and Development is that LDCs should adopt policies aimed at promoting collective self-reliance. According to UNCTAD (May 1976), collective self-reliance embraces two essential elements: establishing common positions to increase the LDCs’ bargaining power vis-à-vis the industrialised countries, and promotion of trade, investment, technological, and other forms of economic cooperation. If the LDCs succeeded in pursuing such policies, it should loosen economic ties to industrial nations. This could lead to considerably more freedom to follow independent policies directly geared to national development objectives, or rectify institutional imbalances of the sort discussed in the preceding chapter.

Suggested Citation

  • Alexander J. Yeats, 1981. "Economic Cooperation among Developing Countries," Palgrave Macmillan Books, in: Trade and Development Policies, chapter 3, pages 32-61, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16585-8_3
    DOI: 10.1007/978-1-349-16585-8_3
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