A Study of Trade Among Developing Countries, 1950-1980: An Appraisal of the Emerging Pattern
The accelerated growth of trade among developing countries during the 1970s has attracted both policy and analytical interest. While the latter interest is concerned to explain this phenomenon either in relation to existing theories of trade or through new or special theories, the former interest is concerned with the implications of this trade for global economic welfare and in particular, for the income growth and development prospects of the poorer, underdeveloped regions of the world. This study is an attempt to shed some light, both analytical and empirical, on the emerging pattern of trade among developing countries. The study is divided into two parts. The first examines theories of the pattern of trade, and discusses the main insights regarding the underlying determinants of the pattern of trade among developing countries; while the second assesses empirically the pattern of trade among developing countries in the period since the Second World War, as well as the role of income/output growth and relative prices in the expansion of this trade.
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Trade Theory and the Pattern of Trade
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Africa aggregate analysis Argentina assumptions bilateral Brazil capital cent chapter Chile Colombia commodity class comparative advantage comparative cost competition Costa Rica cross-section demand determine devel developing regions developing world differences domestic Egypt equation equilibrium estimates exports to developing factors of production fuels Guatemala Heckscher-Ohlin implies imports from developing income elasticities income growth India Indonesia industrial inter-regional International Trade intra regional intra-DC intra-trade Iran Ivory Coast Korea Kuwait Latin America major Malaysia Mexico Nigeria non-fuel exports non-price number of developing oping countries output growth Pakistan pattern of trade price ratio product categories production functions production possibility frontier proportion relative price Salvador Saudi Arabia sector share Singapore SITC South and South-East South-East Asia standard trade substitution suppliers supply technological Thailand total imports trade among developing trade flows trade in manufactures trade models trade theory trading partners transport costs trend variables Venezuela West Asia Yugoslavia