Discussion of the Paper by Dr Havas

Michael Kaser and Richard Portes
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Michael Kaser: St Antony’s College
Richard Portes: Princeton University

A chapter in Planning and Market Relations, 1971, pp 153-157 from Palgrave Macmillan

Abstract: Abstract Dr Márquez believed that a contrast between the Hungarian and Latin American experiences in foreign trade could be instructive for both. Hungary seemed to face an easier balance of payments situation than most Latin American countries, whose development was so dependent on their capacity to import. But there were close parallels in the need to diversify exports and in the growing scepticism towards national import-substitution policies. Scope for the latter was limited in small countries, and the protection which it necessitated distorted the price system. He suggested that the solution might lie in import substitution and economic integration at the regional level, which would allow efficient, large-scale production. In this regional context, countries of relatively low levels of development should not necessarily be favoured by allowing them to reduce their tariffs more slowly than other countries, as is the case in Latin America, because this could perpetuate an irrational pattern of protection. Rather, they should receive capital inflows from other countries in the region, in order to enable them to develop production for export to these countries.

Keywords: Foreign Trade; Foreign Market; Socialist Country; Commodity Trade; State Monopoly (search for similar items in EconPapers)
Date: 1971
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-15410-4_13

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DOI: 10.1007/978-1-349-15410-4_13

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