The Uruguay Round and Developing Countries

An Assessment

image of The Uruguay Round and Developing Countries

This study provides an overall assessment of the implications of the Uruguay Round for a broad crosssection of developing Commonwealth countries. It also makes recommendations on policy options open to them. It is hoped that the study will provide a good basis for member governments in assessing the policy implications of the impending changes in the international trading system in the context of their economies, and in formulating appropriate responses.



Adjustment Issues and Transitional Arrangements

Improvements in market access generally lead to potential for trade expansion. In turn, trade expansion results in changes in the allocation and utilisation of society's factors of production and results in trade expansion. In a smoothly functioning economic system, with markets which clear quickly, resource reallocation occurs smoothly and with little by way of transitional adjustment costs.


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