 Trade policies and the debt crisisSam Laird and Julio Nogues (noguesjuliojorge@gmail.com) No 99, Policy Research Working Paper Series from The World Bank Abstract: In the early 1980's, faced with a mounting debt crisis, most highly indebted developing countries increased trade barriers to generate more foreign exchange; but in the last three to four years, they have reversed course. Almost all highly indebted countries have undergone real devaluations and many have undertaken significant liberalizations. But industrial countries have imposed new non-tariff barriers against imports from highly indebted countries. Industrial countries'export subsidies have contributed to lower prices for beef, sugar and grains, which are important exports for some highly indebted countries. In general, highly indebted countries remain more protectionist than industrial nations. But growing protectionism in the industrial nations makes it more difficult for highly indebted countries to pay off their debts, and ultimately rebounds on creditor governments and banks. Keywords: TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT; Economic Theory&Research; Environmental Economics&Policies; Trade Policy; Trade and Regional Integration (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:99 Access Statistics for this paper More papers in Policy Research Working Paper Series from The World Bank 1818 H Street, N.W., Washington, DC 20433. Contact information at EDIRC. |
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