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Does trade performance say anything about efficient industrialization policies? Some evidence from Pacific Rim Countries

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  • Spinanger, Dean

Abstract

Throughout mainstream economic development literature and, in particular, the analysis of international trade performance, references to the importance of allowing factor prices in a given land to reflect the relative scarcity of its factors of production abound. The consequences for developing countries (DCs) of specialization in the production of goods using more of the factors of production, with which they are better endowed, are stated to be a more efficient economy, which provides the basis for faster growth and a higher degree of competitiveness in world markets. That is to say, in countries with highly distorted factor (and product) markets economic development will be hampered or rather the degree of competitiveness in world markets will be negatively influenced. Notwithstanding the fundamental implications of the impact of domestic market distortions on performance in world trade for development policy recommendations, Krueger (1984, p. 555) notes that relatively little empirical work has been undertaken to estimate their magnitude or their affects. It is the latter aspect which is dealt with in this paper, namely the impact of distortions on the performance of countries in world trade with particular reference paid to Pacific Rim (PACRIM) Countries. Specifically, it intends to yield evidence on the relevance of ensuring that, in particular, domestic factor markets are relatively free from those influences (i.e. policy measures) which cause production to be shifted out of areas of comparative advantage.

Suggested Citation

  • Spinanger, Dean, 1987. "Does trade performance say anything about efficient industrialization policies? Some evidence from Pacific Rim Countries," Kiel Working Papers 302, Kiel Institute for the World Economy (IfW Kiel).
  • Handle: RePEc:zbw:ifwkwp:302
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    References listed on IDEAS

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    1. Krueger, Anne O., 1984. "Trade policies in developing countries," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 11, pages 519-569, Elsevier.
    2. Agarwal, Jamuna Prasad & Dippl, Martin & Langhammer, Rolf J., 1985. "EC trade policies towards associated developing countries: barriers to success," Open Access Publications from Kiel Institute for the World Economy 440, Kiel Institute for the World Economy (IfW Kiel).
    3. Spinanger, Dean, 1984. "The labor market in Panama: An analysis of the employment impact of the labor code," Kiel Working Papers 221, Kiel Institute for the World Economy (IfW Kiel).
    4. Lawrence Krause, 1987. "The Structure of Trade in Manufactured Goods in the East and Southeast Asian Region," NBER Chapters, in: Trade and Structural Change in Pacific Asia, pages 205-226, National Bureau of Economic Research, Inc.
    5. Laurence J. Kotlikoff & Edward E. Leamer, 1987. "Empirical Tests of Alternative Models of International Growth," NBER Chapters, in: Trade and Structural Change in Pacific Asia, pages 227-270, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Corsepius, Uwe, 1988. "Government regulations, external financing and economic performance: The case of Mexico," Kiel Working Papers 345, Kiel Institute for the World Economy (IfW Kiel).
    2. Nunnenkamp, Peter, 1989. "The structure of external financing in Malaysia: the policy framework for foreign direct investment and debt inflows," Kiel Working Papers 368, Kiel Institute for the World Economy (IfW Kiel).
    3. Corsepius, Uwe, 1988. "Government regulations, external financing, and economic performance: The case of Chile," Kiel Working Papers 336, Kiel Institute for the World Economy (IfW Kiel).

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