Trade Liberalization And The Manufacturing Sector: The Case Of The Small Developing Country
AbstractHistorically, the lack of competition in developing countries has resulted in highly concentrated domestic industries that suffer from diseconomies of scale but prosper behind high walls of protection. Liberalization is expected to reverse this trend but at what cost? This article utilizes an import demand framework to examine the potential impact of trade liberalization on the manufacturing sector in the Caribbean using the case of Barbados. The results indicate that the manufacturing industry could encounter tremendous price competition, which could compromise the future survival of these industries. The study recommends that industries reorganize production processes to increase efficiency, which will allow them to compete effectively in the new global trading environment. These results may also be applicable to the wider Caribbean. Copyright 2002 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Contemporary Economic Policy.
Volume (Year): 20 (2002)
Issue (Month): 3 (07)
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- Syed Abdul Sattar SHAH & Anwar Ali Shah G. SYED & Faiz M. SHAIKH, 2013. "Effects Of Wto On The Textile Industry On Developing Countries," Romanian Statistical Review, Romanian Statistical Review, vol. 61(6), pages 60-77, July.
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