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Catching Up

What LDCs can do, and how others can help

image of Catching Up
Despite solid gains made during the last decade, the Least Developed Countries (LDCs) are not keeping pace with other countries and the gap between them and the rest of the developing world has in fact widened. This means that LDCs will have to progress even faster to avoid being left further behind.



In this publication, economist and award-winning author of The Bottom Billion, Paul Collier, suggests a menu of strategic policies around which governments might rally that could help LDCs to reduce this differentiation. He argues that the only actors who can lead this process are the governments of LDCs themselves working together towards clear and well-founded goals.



He emphasises the need for effective change and highlights potential future problems associated with the management of natural resources and the threat of climate change. Implementing the right policies, he argues, is essential if LDCs are to catch up and not become detached from the rest of mankind.

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Using Trade Preferences to Help LDCs Break into Global Manufacturing

Trade preferences for LDCs continue to be part of the world trading system.Under theGeneralised Systemof Preferences (GSP), LDCs have access to most OECD markets and historical ties have been recognised in schemes such as the European Union’s Lomé and Cotonou agreements. Recent years have seen several major extensions of preference schemes. The EU’s Everything butArms scheme, initiated in 2001, gave duty free access to LDCs in almost all products. TheUSAintroduced theAfricanGrowth andOpportunities Act (AGOA) in 2000, improving market access for eligible sub-Saharan African countries. The USA also operates the Caribbean Basin Initiative (CBI) and the Andean Trade Promotion Act.

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