The Political Economy Of Trade Reform In Emerging Markets

. . . few if any other recent volumes offer a historical perspective on evolving trade policy in several countries, this well-written, well-edited volume. . . is suitable for graduate and research libraries. M. Larudee, Choice This book is a refreshing reminder of the benefits of unilateral trade liberalisation in countries whose leaders dare. An important story told with clarity and authority. Ross Garnaut, The Australian National University, Australia That trade liberalization is good for emerging market economies, and not just for the rich ones, is now widely accepted by both economists and policy-makers. But the question remains: how can these reforms be implemented in practice? The answer to that important question lies in understanding the political economy of each reforming country. This book makes a splendid contribution to our understanding of this issue by examining the experience of several countries. It is therefore an important book to be read by, not just students and researchers, but also policy-makers worldwide. Jagdish Bhagwati, Columbia University, US This timely book brings fresh analysis to the important issue of trade policy reform in emerging markets. The subject matter and its significance are comprehensively introduced with a review of developing country liberalization since the 1980s providing an analytical framework for the seven country case studies that follow. The case studies (Australia, Brazil, Chile, India, Malaysia, New Zealand, and South Africa) cover a wide variety of political, historical and economic issues, but all make clear the important role that crisis, or the threat of it, plays in meaningful trade policy reform. This is of particular relevance in the current global financial crisis. These studies, together with the conclusions which are drawn from them, show how important the trade liberalization agenda remains in the 21st century. Written by a combination of both experts and practitioners, this highly topical book will make productive reading for policy makers concerned with trade policy in developed and developing countries, as well as scholars working in trade policy. Postgraduate students studying international business, international relations, economics, politics, and international law should not be without this book.

Given the widely-accepted premise that free trade is the best means of maximising overall societal welfare, why has it proven so difficult to achieve in certain industries? This book tackles arguably the most perennial and deep-rooted of all questions in political economy, and questions the incumbent orthodox liberal theories of collective action. Using a historical institutionalist framework to explore and explain the political economy of trade protectionism and liberalization, this book is based on detailed case studies of the textiles and clothing sector in the EU, United States, China, Caribbean Basin and sub-Saharan Africa. From this, the book expands to discuss the origins of trade protectionism and examine the wider political effects of liberalization, offering an explanation of why a successful conclusion to the WTO ‘Doha’ round has proven to be so elusive. The book argues that the regulation of global trade - and the economic consequences that this has for both developed and developing countries - has been the result of the particular way in which trade preferences are mediated through political institutions. The Global Political Economy of Trade Protectionism and Liberalization will be of interest to those studying and researching international and comparative political economy, developing area studies, economics, law and geography.

This accessible, comprehensive and pertinent Handbook will be of interest to academics, researchers and students working in the fields of international politics, in particular political economy and foreign policy, and the economics of trade.¾ Practitio

This volume is the continuation of our research on economic and developmental policy-making in the global semi-periphery in the post-crisis cycle (see our two recently published volumes titled ‘Market-Liberalism and Economic Patriotism in Capitalist Systems’ edited by Gerőcs and Szanyi, 2019, Palgrave Macmillan and ‘The Post-Crisis Developmental State – Perspectives from the Global Periphery’ edited by Gerőcs and Ricz, 2021). Our new volume aims to be a contribution to the analysis of emerging market economies’ alternative development trajectories, as we explore the new perspectives on semi-peripheral dependent development since the Global Financial Crisis and especially amidst the new global pandemic, the COVID-19. The scope of comparative capitalism research has also been altered accordingly to include the analysis of emerging economies outside the core of the world system, and to make intertemporal comparisons possible (such as to define and characterise historical waves of state capitalism). Still, we are convinced that to better understand the current wave of state capitalism and to explore its national varieties there is a need to critically reconsider existing theoretical approaches and methodologies, and to search for new ones, if necessary. This book aims to be a contribution to the analysis of emerging market economies' alternative development trajectories and explores new perspectives on semi-peripheral dependent development, especially amidst COVID-19.

Given the widely-accepted premise that free trade is the best means of maximising overall societal welfare, why has it proven so difficult to achieve in certain industries? This book tackles arguably the most perennial and deep-rooted of all questions in political economy, and questions the incumbent orthodox liberal theories of collective action. Using a historical institutionalist framework to explore and explain the political economy of trade protectionism and liberalization, this book is based on detailed case studies of the textiles and clothing sector in the EU, United States, China, Caribbean Basin and sub-Saharan Africa. From this, the book expands to discuss the origins of trade protectionism and examine the wider political effects of liberalization, offering an explanation of why a successful conclusion to the WTO ‘Doha’ round has proven to be so elusive. The book argues that the regulation of global trade - and the economic consequences that this has for both developed and developing countries - has been the result of the particular way in which trade preferences are mediated through political institutions. The Global Political Economy of Trade Protectionism and Liberalization will be of interest to those studying and researching international and comparative political economy, developing area studies, economics, law and geography.

There are many textbooks devoted to international trade but few volumes that survey trade theory, policy, and negotiations in a concise, up-to-date manner from an interdisciplinary perspective. This book provides a comprehensive overview of the issues that dominate both academic discourse and the policymaking arena in the field of international trade, bringing to bear the insights of economics, law, and political science. It also stands out by virtue of its emphasis on the development implications of trade, an increasingly useful perspective given the deepening liberalization of developing and emerging market economies and their growing importance in the world economy. The volume examines the full range of trade policy topics that dominate contemporary debates, such as rules of origin, trade in services, competition, public procurement, and trade facilitation, plus emergent controversial topics like trade-related labour standards and environmental issues. It analyses the international trade architecture and the institutional and practical aspects of policymaking and negotiations at the unilateral, multilateral, and regional level, as well as the effects of trade on economic growth, inequality, and poverty. It also explores the sharp increase in the number of preferential trade agreements and their significance for the global trade system. The treatment of each issue is rigorous, yet highly accessible to anyone with a basic background in economics, law, and international political economy.

The Move to the Market? brings together recent contributions that critically review and examine the role that trade and industry policy reforms have played in the transitional economies. It relates trade and industry policy to the wider set of reforms being implemented as part of the process of moving from a predominantly centrally planned to a more market-oriented economy. The book highlights the different and complex patterns of development that are emerging between the transitional economies of Europe, Africa and Asia.

A re-examination of the role of trade policy in development strategies through analyses and five country studies of semi-industrialized economies, this book shows that sustained growth performance is associated with policies geared to the creation of competitiveness in new sectors, rather than to the exploitation of current comparative advantages. This has required selectivity in trade policy and an activist exchange rate policy. The book also places the current trade policy debates in the context of the international policy environment that is emerging in an increasingly globalized world economy.