内容正文:
Chapter 10
Trade Policy and Economic Development
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Learning target
After learning this chapter, you should be able to:
Understand the definition of trade policy, import-substitution policy, and export-oriented policy
Explain the theoretical basis and economic performance of import-substitution policy
Explain the theoretical basis and economic performance of export-oriented policy
Understand the theoretical framework and policy of new structural economics
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Main content
Definition and Type of Trade Policy
Import-substitution Policy and Economic Development
Export-oriented Policy and Economic Development
New Structural Economics and Economic Development
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Definition and Type of Trade Policy
1. Definition of trade policy
2. Type of trade policy
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1. Definition of trade policy
Trade policy, generally called trade development strategy, is a country or region’s policy arrangement influencing domestic resource allocation and competitive efficiency by choosing international division involvement and degree.
As a narrow sense industrial policy, trade policy is used to achieve industrialization in developing countries. In the field of development economics, trade policy is often regarded as one kind of industrialization strategy.
Influencing by various international and domestic factors, the choice of trade policy reflects a country’s attitude and pattern of participating in the international division.
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2. Type of trade policy
Chenery (1989) believed that trade policies can be classified into inward-oriented, primary outward-oriented, manufacturing outward-oriented, and neutral.
Krueger (1995) argued that there are three kinds of trade policies in developing countries such as export-oriented policy, import-substitution policy, and moderately import-substitution policy.
World Development Report 1987 pointed out that trade policy can be divided into four categories including strongly outward-oriented, moderately outward-oriented, strongly inward-oriented, and moderately inw