Trade Liberalisation Schemes.

 Previous decades have been marked with an increase in the establishment of free trade areas, trade agreements and attempts to reach international treaties towards trade liberalization. Yet, trade was liberalized by fewer countries than had been expected, and more importantly, trade liberalization policies have been implemented partially or tentatively.

All three main constituents of national income: factor prices, factor quantities and production technology, are influenced by the trade liberalization process. An open international trade regime may contribute through better allocation of world resources, through expansion of consumption opportunities and through a rise in production efficiency. In the view of the World Bank, trade liberalization is a major factor of economic growth, provided that additional conditions, such as macroeconomic stability and good governance are met.

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The current body of research that examines the relationship between trade liberalization and economic growth points to rather different conclusions, suggesting that little can be deemed as clear regarding the precise effects of trade liberalization on economic growth and poverty alleviation.

Our research aims to determine how far trade liberalization schemes have been successful at promoting economic growth and what the implications have been for the relationship between developed and developing countries.

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