Adjustment Costs and Trade Liberalization

Santiago Fernández Córdoba, Sam Laird, Jean-Christophe Maur and Jose Maria Serena Garralda

Chapter 3 in Coping with Trade Reforms, 2006, pp 66-85 from Palgrave Macmillan

Abstract: Abstract Trade-induced adjustment costs experienced by developing countries are a matter of growing concern within multilateral negotiations liberalization. While the longer-term benefits of trade liberalization are well accepted, the process of transition and associated costs are not as well understood. The challenge is to identify policies that help developing countries reallocate resources to more productive uses with minimal social disruption. In reviewing the literature on structural adjustment costs, we address questions of timing and sequencing, supporting policies and institutions, especially in developing country situations.

Keywords: Labour Market; Trade Liberalization; Adjustment Cost; Factor Market; Private Cost (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37780-6_4

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DOI: 10.1057/9780230377806_4

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