International Trade, WTO and Economic Development

Kalim Siddiqui, null

doi:10.13169/worlrevipoliecon.7.4.0424

ScienceOpen: research and publishing network

For Publishers

For Researchers

Blog
About

Search
Advanced search

1,334

views

recommends

If you have found this article useful and you think it is important that researchers across the world have access, please consider donating, to ensure that this valuable collection remains Open Access.

The World Review of Political Economy is published by Pluto Journals, an Open Access publisher. This means that everyone has free and unlimited access to the full-text of all articles from our international collection of social science journals. Furthermore Pluto Journals authors don’t pay article processing charges (APCs).

scite_

World Review of Political Economy

Volume 7, Issue 4

Record: found
Abstract: found
Article: found

Is Open Access

International Trade, WTO and Economic Development

Published

research-article

Author(s): Kalim Siddiqui

Publication date (Print): Winter 2016

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: WTO, trade liberalisation, industrialisation, international financial institutions, developing countries

Abstract

This article examines the existing literature on trade liberalisation and its effect on the economies of developing countries. It will also briefly examine the theory of comparative advantage which is seen as justification for global trade liberalisation under the auspices of the World Trade Organization. This process is also associated with greater openness, economic interdependence and deepening economic integration with the world economy. The study is important because once again the international institutions strongly advocate trade and financial liberalisation in developing countries. The proponents of trade liberalisation argue that multilateral trade negotiations would achieve these goals, and poor countries particularly would benefit from it. However, such policies may increase vulnerability and make developing countries further hostages of international finance capital. Adoption of open market policies in agriculture would also mean the abandoning of self-reliance and food sovereignty, which may have wider consequences in terms of food shortages, food prices and rural employment.

Content

Author and article information

Journal

Journal ID (doi): 10.13169

Journal ID (publisher-id): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

ISSN (Electronic): 20428928

Publication date (Print): Winter 2016

Volume: 7

Issue: 4

Pages: 424-450

Article

Publisher ID: worlrevipoliecon.7.4.0424

DOI: 10.13169/worlrevipoliecon.7.4.0424

SO-VID: d621177b-f702-4d1d-9dd7-2b7552b189e1

License:

All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

History

References

Amsden, A. 2005. “Promoting Industry under WTO Law.” In Putting Development First: The Importance of Policy Space in the WTO and IFIs , edited by K. P. Gallagher, 216–32. London: Zed Books.
Anderson, K., and W. Martin, eds. 2005. Agriculture Trade Reform and the Doha Development Agenda . Washington, DC: World Bank.
Anievas, A., and K. Nisancioglu. 2015. How the West Came to Rule: The Geopolitical Origins of Capitalism . London: Pluto Press.
Bagchi, A. K. 2010. Colonialism and the Indian Economy . Delhi: Oxford University Press.
Barker, T. 1977. “International Trade and Economic Growth: An Alternative to Neo-classical Approach.” Cambridge Journal of Economics 1: 153–72.
Bhagwati, J., and A. Krueger. 2001. The Dangerous Drift to the Preferential Trade Agreements . Washington, DC: AEI Press.
Brailsford, H. N. 1998. The War of Steel and Gold . Bristol: Thoemmes Press.
Brown, M. B. 1993. Fair Trade . London: Zed Books.
Chang, H.-J. 2002. Kicking Away the Ladder: Development Strategy in Historical Perspective . London: Anthem Press.
Chang, H.-J. 2008. Bad Samaritans: The Myth of Free Trade and Secret History of Capitalism . New York: Bloomsbury Press.
Cornia, G. A. 1999. “Liberalisation, Globalisation and Income Distribution.” Working paper, no. 157, Helsinki: UNU-WIDER.
Engels, F. 1990. “Protection and Free Trade.” In Marx/Engels Collected Works , vol. 26, by K. Marx and F. Engels, 521–36. New York: International Publishers.
Gallagher, J., and R. Robinson. 1953. “The Imperialism of Free Trade.” The Economic History Review (Second Series) 5 (1): 1–15.
Gallagher, K. P., ed. 2005. Putting Development First . London: Zed Books.
Ghose, A. K. 2004. “Global Inequality and International Trade.” Cambridge Journal of Economics 28: 229–52.
Habib, I. 1995. “Colonisation of the Indian Economy.” In Essay in Indian History: Towards a Marxist Perception , edited by I. Habib, 304–46. New Delhi: Tulika.
Ho, P. S. 1996. “Reappraising Torrens Contribution to the Analysis of Trade, Growth and Colonisation.” Contribution to Political Economy 15: 1–31.
Kaldor, N. 1981. “The Role of Increasing Returns, Technical Progress and Cumulative Causation in the Theory of International Trade and Economic Growth.” Economic Applique 34 (4): 593–617.
Kiely, R. 2007. The New Political Economy of Development: Globalisation, Imperialism and Hegemony . Basingstoke: Palgrave Macmillan.
Krueger, A. 1996. The Political Economy of Trade Protection . Boston: National Bureau of Economic Research.
Krugman, P. 1987. “Is Free Trade Passé?” Journal of Economics Perspective 1 (2): 131–44.
Levkovsky, A. I. 1966. Capitalism in India: Basic Trends in Its Development . Delhi: Peoples Publishing House.
List, F. 1966. The National System of Political Economy . New York: Augustus Kelley.
Maddison, A. 2006a. “Asia in the World Economy 1500–2030 AD.” Asian Pacific Economic Literature 20 (2): 1–37.
Maddison, A. 2006b. The World Economy , vol. 1. Paris: Organisation for Economic Co-operation and Development.
Maneschi, A. 1992. “Ricardo's International Trade Theory: Beyond the Comparative Cost Example.” Cambridge Journal of Economics 16: 421–37.
Milberg, W. 2004. “The Changing Structure of Trade Linked to Global Production Systems: What Are the Policy Implications?” International Labour Review 143 (1–2): 45–90.
Nayyar, D. 2006. “Globalisation, History and Development: A Tale of Two Centuries.” Cambridge Journal of Economics 30: 137–59.
Owen, R. I. 2004. Lord Cromer: Victorian Imperialist . Oxford: Oxford University Press.
Perrotta, C., and C. Sunna, eds. 2013. Globalization and Economic Crisis . Rome: Universita del Salento.
Polaski, S. 2006. Winners and Losers: Impact of the Doha Round on the Developing Countries . Washington, DC: Carnegie Endowment for International Peace.
Reinert, E. 2007. How Rich Country Got Rich and Why Poor Countries Stay Poor . London: Constable & Robinson.
Rodrik, D. 2001. The Global Governance of Trade: As if Development Really Mattered . New York: United Nations Development Programme.
Rodrik, D. 2004. How to Make the Trade Regime Work for Development . Cambridge, MA: Harvard University Press.
Sachs, J., and A. Warner. 1995. Economic Reform and the Process of Global Economic Integration. Brooking Papers on Economic Activity , no. 1: 1–118.
Sen, S. 2005. “International Trade Theory and Policy: What Is Left of the Free Trade Paradigm?” Development and Change 36 (6): 1011–29.
Siddiqui, K. 1990. “Historical Roots of Mass Poverty in India.” In Trends and Strains , edited by C. A. Thayer, J. Camilleri, and K. Siddiqui, 59–76. Delhi: Peoples Publishing House.
Siddiqui, K. 1998. “The Export of Agricultural Commodities, Poverty and Ecological Crisis: A Case Study of Central American Countries.” Economic and Political Weekly 33 (39): A128–A137.
Siddiqui, K. 2009. “The Political Economy of Growth in China and India.” Journal of Asian Public Policy 1 (2): 17–35.
Siddiqui, K. 2012a. “Developing Countries' Experience with Neoliberalism and Globalisation.” Research in Applied Economics 4 (4): 12–37. doi:10.5296/rae.v4i4.2878.
Siddiqui, K. 2012b. “Malaysia's Socio-Economic Transformation in Historical Perspective.” International Journal of Business and General Management 1 (2): 21–50.
Siddiqui, K. 2013. “Experiences of Developmental State in India and Taiwan.” Think India Quarterly 16 (4): 91–121.
Siddiqui, K. 2014a. “Flows of Foreign Capital into Developing Countries: A Critical Review.” Journal of International Business & Economics 2 (1): 29–46.
Siddiqui, K. 2014b. “Growth and Crisis in India's Political Economy from 1991 to 2013.” International Journal of Social and Economic Research 4 (2): 84–99. doi:10.5958/2249-6270.2014.00487.5.
Siddiqui, K. 2014c. “Modernisation and Displacement of Rural Communities in India.” Journal of Social Business 4 (2–3): 3–27.
Siddiqui, K. 2015a. “Challenges for Industrialisation in India: State versus Market Policies.” Research in World Economy 6 (2): 85–98. doi:10.5430/rwe.v6n2p85.
Siddiqui, K. 2015b. “Foreign Capital Investment into Developing Countries: Some Economic Policy Issues.” Research in World Economy 6 (2): 14–29. doi:10.5430/rwe.v6n2p14.
Siddiqui, K. 2015c. “Trade Liberalisation and Economic Development: A Critical Review.” International Journal of Political Economy 44 (3): 228–47. doi:10.1080/08911916.2015.1095050.
Siddiqui, K. 2016. “A Study of Singapore as a Developmental State.” In Chinese Global Production Networks in ASEAN , edited by Y.-C. Kim, 157–88. London: Springer.
Siwach, G. 2016. “Trade Liberalisation and Income Convergence: Evidence from Developing Countries.” Economic and Political Weekly 51 (22): 115–20.
Solow, R. 1956. “A Contribution to the Theory of Economic Growth.” Quarterly Journal of Economics 70 (1): 65–94.
Stalker, P. 1994. The Work of Stranger: A Survey of International Labour Migration . Geneva: International Labour Organization.
Stiglitz, J. 2005. “Development Policies in a World of Globalisation.” In Putting Development First , edited by K. P. Gallagher, 15–32. London: Zed Books.
Stiglitz, J., and A. Charlton. 2006. Fair Trade for All . Oxford: Oxford University Press.
Tyabji, N. 2015. “The Politics of Industry in Nehru's India.” Economic and Political Weekly 50 (35): 97–103.
Wade, R. 2003. “What Strategies Are Viable for Developing Countries Today? The World Trade Organization and the Shrinking of ‘Development Space.’” Review of International Political Economy 10 (4): 621–44.
World Bank. 2014. The Development Report . Washington, DC: World Bank.
WTO (World Trade Organization). 2013. The Case for Open Trade . https://www.wto.org/english/thewto_e/whatis_e/tif_e/fact3_e.htm.

Comments

Comment on this article

[1] Amsden, A. 2005. “Promoting Industry under WTO Law.” In Putting Development First: The Importance of Policy Space in the WTO and IFIs , edited by K. P. Gallagher, 216–32. London: Zed Books.

[2] Anderson, K., and W. Martin, eds. 2005. Agriculture Trade Reform and the Doha Development Agenda . Washington, DC: World Bank.

[3] Anievas, A., and K. Nisancioglu. 2015. How the West Came to Rule: The Geopolitical Origins of Capitalism . London: Pluto Press.

[4] Bagchi, A. K. 2010. Colonialism and the Indian Economy . Delhi: Oxford University Press.

[5] Barker, T. 1977. “International Trade and Economic Growth: An Alternative to Neo-classical Approach.” Cambridge Journal of Economics 1: 153–72.

[6] Bhagwati, J., and A. Krueger. 2001. The Dangerous Drift to the Preferential Trade Agreements . Washington, DC: AEI Press.

[7] Brailsford, H. N. 1998. The War of Steel and Gold . Bristol: Thoemmes Press.

[8] Brown, M. B. 1993. Fair Trade . London: Zed Books.

[9] Chang, H.-J. 2002. Kicking Away the Ladder: Development Strategy in Historical Perspective . London: Anthem Press.

[10] Chang, H.-J. 2008. Bad Samaritans: The Myth of Free Trade and Secret History of Capitalism . New York: Bloomsbury Press.

[11] Cornia, G. A. 1999. “Liberalisation, Globalisation and Income Distribution.” Working paper, no. 157, Helsinki: UNU-WIDER.

[12] Engels, F. 1990. “Protection and Free Trade.” In Marx/Engels Collected Works , vol. 26, by K. Marx and F. Engels, 521–36. New York: International Publishers.

[13] Gallagher, J., and R. Robinson. 1953. “The Imperialism of Free Trade.” The Economic History Review (Second Series) 5 (1): 1–15.

[14] Gallagher, K. P., ed. 2005. Putting Development First . London: Zed Books.

[15] Ghose, A. K. 2004. “Global Inequality and International Trade.” Cambridge Journal of Economics 28: 229–52.

[16] Habib, I. 1995. “Colonisation of the Indian Economy.” In Essay in Indian History: Towards a Marxist Perception , edited by I. Habib, 304–46. New Delhi: Tulika.

[17] Ho, P. S. 1996. “Reappraising Torrens Contribution to the Analysis of Trade, Growth and Colonisation.” Contribution to Political Economy 15: 1–31.

[18] Kaldor, N. 1981. “The Role of Increasing Returns, Technical Progress and Cumulative Causation in the Theory of International Trade and Economic Growth.” Economic Applique 34 (4): 593–617.

[19] Kiely, R. 2007. The New Political Economy of Development: Globalisation, Imperialism and Hegemony . Basingstoke: Palgrave Macmillan.

[20] Krueger, A. 1996. The Political Economy of Trade Protection . Boston: National Bureau of Economic Research.

[21] Krugman, P. 1987. “Is Free Trade Passé?” Journal of Economics Perspective 1 (2): 131–44.

[22] Levkovsky, A. I. 1966. Capitalism in India: Basic Trends in Its Development . Delhi: Peoples Publishing House.

[23] List, F. 1966. The National System of Political Economy . New York: Augustus Kelley.

[24] Maddison, A. 2006a. “Asia in the World Economy 1500–2030 AD.” Asian Pacific Economic Literature 20 (2): 1–37.

[25] Maddison, A. 2006b. The World Economy , vol. 1. Paris: Organisation for Economic Co-operation and Development.

[26] Maneschi, A. 1992. “Ricardo's International Trade Theory: Beyond the Comparative Cost Example.” Cambridge Journal of Economics 16: 421–37.

[27] Milberg, W. 2004. “The Changing Structure of Trade Linked to Global Production Systems: What Are the Policy Implications?” International Labour Review 143 (1–2): 45–90.

[28] Nayyar, D. 2006. “Globalisation, History and Development: A Tale of Two Centuries.” Cambridge Journal of Economics 30: 137–59.

[29] Owen, R. I. 2004. Lord Cromer: Victorian Imperialist . Oxford: Oxford University Press.

[30] Perrotta, C., and C. Sunna, eds. 2013. Globalization and Economic Crisis . Rome: Universita del Salento.

[31] Polaski, S. 2006. Winners and Losers: Impact of the Doha Round on the Developing Countries . Washington, DC: Carnegie Endowment for International Peace.

[32] Reinert, E. 2007. How Rich Country Got Rich and Why Poor Countries Stay Poor . London: Constable & Robinson.

[33] Rodrik, D. 2001. The Global Governance of Trade: As if Development Really Mattered . New York: United Nations Development Programme.

[34] Rodrik, D. 2004. How to Make the Trade Regime Work for Development . Cambridge, MA: Harvard University Press.

[35] Sachs, J., and A. Warner. 1995. Economic Reform and the Process of Global Economic Integration. Brooking Papers on Economic Activity , no. 1: 1–118.

[36] Sen, S. 2005. “International Trade Theory and Policy: What Is Left of the Free Trade Paradigm?” Development and Change 36 (6): 1011–29.

[37] Siddiqui, K. 1990. “Historical Roots of Mass Poverty in India.” In Trends and Strains , edited by C. A. Thayer, J. Camilleri, and K. Siddiqui, 59–76. Delhi: Peoples Publishing House.

[38] Siddiqui, K. 1998. “The Export of Agricultural Commodities, Poverty and Ecological Crisis: A Case Study of Central American Countries.” Economic and Political Weekly 33 (39): A128–A137.

[39] Siddiqui, K. 2009. “The Political Economy of Growth in China and India.” Journal of Asian Public Policy 1 (2): 17–35.

[40] Siddiqui, K. 2012a. “Developing Countries' Experience with Neoliberalism and Globalisation.” Research in Applied Economics 4 (4): 12–37. doi:10.5296/rae.v4i4.2878.

[41] Siddiqui, K. 2012b. “Malaysia's Socio-Economic Transformation in Historical Perspective.” International Journal of Business and General Management 1 (2): 21–50.

[42] Siddiqui, K. 2013. “Experiences of Developmental State in India and Taiwan.” Think India Quarterly 16 (4): 91–121.

[43] Siddiqui, K. 2014a. “Flows of Foreign Capital into Developing Countries: A Critical Review.” Journal of International Business & Economics 2 (1): 29–46.

[44] Siddiqui, K. 2014b. “Growth and Crisis in India's Political Economy from 1991 to 2013.” International Journal of Social and Economic Research 4 (2): 84–99. doi:10.5958/2249-6270.2014.00487.5.

[45] Siddiqui, K. 2014c. “Modernisation and Displacement of Rural Communities in India.” Journal of Social Business 4 (2–3): 3–27.

[46] Siddiqui, K. 2015a. “Challenges for Industrialisation in India: State versus Market Policies.” Research in World Economy 6 (2): 85–98. doi:10.5430/rwe.v6n2p85.

[47] Siddiqui, K. 2015b. “Foreign Capital Investment into Developing Countries: Some Economic Policy Issues.” Research in World Economy 6 (2): 14–29. doi:10.5430/rwe.v6n2p14.

[48] Siddiqui, K. 2015c. “Trade Liberalisation and Economic Development: A Critical Review.” International Journal of Political Economy 44 (3): 228–47. doi:10.1080/08911916.2015.1095050.

[49] Siddiqui, K. 2016. “A Study of Singapore as a Developmental State.” In Chinese Global Production Networks in ASEAN , edited by Y.-C. Kim, 157–88. London: Springer.

[50] Siwach, G. 2016. “Trade Liberalisation and Income Convergence: Evidence from Developing Countries.” Economic and Political Weekly 51 (22): 115–20.

[51] Solow, R. 1956. “A Contribution to the Theory of Economic Growth.” Quarterly Journal of Economics 70 (1): 65–94.

[52] Stalker, P. 1994. The Work of Stranger: A Survey of International Labour Migration . Geneva: International Labour Organization.

[53] Stiglitz, J. 2005. “Development Policies in a World of Globalisation.” In Putting Development First , edited by K. P. Gallagher, 15–32. London: Zed Books.

[54] Stiglitz, J., and A. Charlton. 2006. Fair Trade for All . Oxford: Oxford University Press.

[55] Tyabji, N. 2015. “The Politics of Industry in Nehru's India.” Economic and Political Weekly 50 (35): 97–103.

[56] Wade, R. 2003. “What Strategies Are Viable for Developing Countries Today? The World Trade Organization and the Shrinking of ‘Development Space.’” Review of International Political Economy 10 (4): 621–44.

[57] World Bank. 2014. The Development Report . Washington, DC: World Bank.

[58] WTO (World Trade Organization). 2013. The Case for Open Trade . https://www.wto.org/english/thewto_e/whatis_e/tif_e/fact3_e.htm.

World Review of Political Economy

International Trade, WTO and Economic Development

Journal

Article

History

Categories

Comment on this article