Trade Liberalization Sequence for Sustained Economic Growth

Mo, Pak Hung (2011): Trade Liberalization Sequence for Sustained Economic Growth.

Abstract

This paper delivers a simple model to generalize the successful trade liberalization experiences in East Asian countries as a strategy for attaining inclusive and sustained economic growth. The sequential approach, based on preserving existing production units while liberalizing export-oriented sectors, can be understood as a way to promote international interactions and learning by practice, to extend the limit of market and to introduce market incentive and pressure on all related agents for attaining dynamic efficiency. It provides a regular liberalization sequence to ignite and sustain economic growth for most lagged economies.

• Item Type: MPRA Paper
• Language: English
• Keywords: Trade liberalization, Sustained economic growth
• Subjects: F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; F - International Economics > F3 - International Finance; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity

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