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The new liberalism: Trade policy developments in emerging markets

Zdenek Drabek and Sam Laird

No ERAD-97-07, WTO Staff Working Papers from World Trade Organization (WTO), Economic Research and Statistics Division

Abstract: In the last ten years, there has been a sea change in trade and related policies in emerging markets. This results from autonomous reforms undertaken in conjunction with macro-economic stabilization programmes. Many non-tariff measures have been eliminated and tariffs, now the principal trade instrument, have been rationalized and reduced. Considerable increases in security of market access result from increased membership of the GATT/WTO system, which itself underwent important changes as a result of the Uruguay Round, further developed in the first Ministerial Meeting of the WTO in Singapore in December 1996. The systemic changes and the expansion of WTO membership to the transition and other economies mark a dramatic change in international economic relations.

Keywords: trade liberalization; WTO; GATT; emerging markets (search for similar items in EconPapers)
JEL-codes: F01 F02 F13 (search for similar items in EconPapers)
Date: 1997
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