The purpose of this study is to clarify some confusion surrounding the infant industry argument presented by Frederick List. Its main contribution is to show that List recommended selective, rather than across-the-board, protection of infant industries and that he was against neither...

This paper assesses the extent to which foreign direct investment in developing countries crowds in or crowds out domestic investment. We develop a theoretical model of investment that includes an FDI variable and we proceed to test it with panel data for the period 1970–1996 and the two...

This paper briefly surveys the progress made in various areas of reform of the international financial architecture since the outbreak of the East Asian crisis, and explains the principal technical and political obstacles encountered in carrying out fundamental changes capable of dealing with...

The Gramm-Leach-Bliley Financial Modernization Act went into effect in the United States in1999. The Act establishes a new framework for affiliations among commercial banks, insurance companies and securities firms through "financial holding companies" and "financial subsidiaries", and...

The economic importance of copyright industries in developed market economies has been well documented. Although less important in developing countries, this is likely to change with the growing weight of the service sector in these economies and its importance for their closer integration into...

This paper examines the implications of some of the main features of the globalization process for developing countries. It also makes several proposals for developing countries in considering national-level policies to face the globalization challenge, as well as coordination among developing...

This study summarizes the findings of the technical assistance provided jointly by UNCTAD and the Trade and Industrial Policy Secretariat (TIPS) to the Department of Trade and Industry of South Africa during its negotiations with the European Union for a Free Trade Area (FTA) Agreement. The...

Using a monopolistic pricing model as benchmark, this paper develops a dynamic framework within which issues concerning the role of export-processing zones in promoting economic openness and transition is assessed. Technological learning and adaptation contribute profoundly to economic...

In this paper we take a look at the empirical relationship between the level of financial development and socio-economic variables reflecting different levels of development in the light of the recent literature on the role of human capital in economic development. The empirical results, based...

Recent financial crises, whose effects have been particularly severe in developing countries, have led to a wide-ranging debate on international financial reform. This debate has had to confront the implications of the huge growth of international capital movements, one of whose consequences has...