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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.

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Trade, Growth and Poverty Reduction

‘Globalisation’ is now the widely-used word to describe the process over time of the integration of individual economies with the world economy, through international trade in goods and services, international flows of capital, finance and knowledge (including technology). It is widely, though not universally agreed, that there were two waves of globalisation, “the first ended with World War I and the second started at the end of World War II, while the years in between were ones of anti-global backlash” (Williamson, 2002).

English

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