There has been a long-held belief that there is an association between economic growth and increased levels of international trade. However, more recent work has questioned this hypothesis and the re-opening of the debate has identified two key areas of contention. One is the extent to which the...

Emerging market crises have suggested that a national benefit-cost assessment of external financial liberalisation could well prove unfavourable. This paper re-examines the principle of comparative advantage in its application to financial trade to seek guidance on measures that might permit a...

NAMA liberalisation alone will not be sufficient to achieve the development goals of the Doha Round. The structure of developing countries' economies and weaknesses in their infrastructure and institutions mean that adjustment to liberalisation is often costly and export responses slow. To make...