Trade-led Growth
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Trade-led Growth

A Sound Strategy for Asia

The global economic crisis triggered changes in real economies and trade in all countries, including those in Asia, which adopted the so-called export-led growth model. With these drastic changes in trade flows, and the need to counteract potential adverse effects, the old debate on the advantages and flaws of the export-led model has re-opened. It aims to provide some theoretical and empirical reasons towards an argument that for developing Asian economies, export-led growth is still a valid model of stable, equitable and sustainable growth. It also combines local research with that of established ones. While there is extensive literature focusing on the role of openness and trade in a country’s development, much of it dates to before the most recent global crisis. Volumes that were recently published argue against an export-led growth strategy, while this volume argues in defence of trade-led growth for the Asian region.
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Scope for world trade reform to ease Asian poverty and inequality You do not have access to this content

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Author(s):
Kym Anderson

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For decades, earnings from farming in many Asian and other developing countries have been depressed by a pro-urban, anti-agricultural bias in own-country sectoral and trade policies as well as by governments of richer countries favouring their farmers with import barriers and subsidies. Both sets of policies reduced national and global economic welfare, inhibited economic growth, and added to inequality and poverty because no fewer than three-quarters of the world’s billion poorest people still depend directly or indirectly on farming for their livelihood (World Bank, 2007).