Trade, Growth and Poverty Reduction

Least Developed Countries, Landlocked Developing Countries and Small States in the Global Economic System

image of Trade, Growth and Poverty Reduction
Why have the least developed countries, and other poorer countries, failed to grow as fast as other economies during the recent period of globalisation?

Professor Srinivasan explores the broad links between growth in income, globalisation, and poverty reduction. He argues that past domestic and international policies have failed to serve the interests of the poorest countries, and suggests that the current array of international institutions, in their unreformed state, are ill-suited to bring about the changes required.

Finally he makes recommendations on needed reforms to the institutions that manage the global economic system.




The global economic system—consisting of international trade in goods and services, flows of capital, finance, ideas, labour and technology—is becoming increasingly integrated, with more and more nations participating in the system. However, in the integration process, developing countries in general and groups of developing countries in particular—such as leastdeveloped countries (LDCs), landlocked developing countries (LLDCs), small island developing states (SIDS) and small vulnerable states (SVS)— are widely presumed to face special challenges and problems to varying degrees. Work programmes and operational documents of the World Bank, WTO and others describe their proposed actions in support of LDCs...


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