ON SOME ISSUES RELATED TO TRADE STRATEGIES OF DEVELOPING COUNTRIES

Mykhaylo Kunychka ()
Additional contact information
Mykhaylo Kunychka: Fakulta medzinárodných vzťahov, Ekonomická univerzita v Bratislave

Almanach (Actual Issues in World Economics and Politics), 2022, vol. 17, issue 1, 34-51

Abstract: Over the last few decades, the individual economies of the world have become increasingly interconnected through investment, migration, and international trade that has affected the dynamics of their economic development. The purpose of the paper is to analyse positive and negative aspects of foreign trade policies in the context of the economic development of developing countries regarding their internal economic, political, or institutional specifics. We argue theoretically and analyze the basic strategies of foreign trade – outward-looking policy and inward-looking policy. We use available theoretical knowledge from the field of international economic relations and developing economics. In conclusion, we state that the mentioned foreign trade strategies are often used gradually, and their implementation is related to the specific characteristics of developing countries. Factors influencing the choice between strategies are the size of the market, the availability of financial resources, the degree of state autonomy, or international attractiveness.

Keywords: economic development; international trade; foreign trade strategies; subsidy; tariff; developing countries (search for similar items in EconPapers)
JEL-codes: F13 F63 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://fmv.euba.sk/RePEc/brv/almnch/A2022-1.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:brv:almnch:v:17:y:2022:i:1:p:34-51

Access Statistics for this article

More articles in Almanach (Actual Issues in World Economics and Politics) from Ekonomická univerzita, Fakulta medzinárodných vzťahov Contact information at EDIRC.
Bibliographic data for series maintained by Eva Vlkova ().