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Trade Liberalization

In: Palgrave Dictionary of Emerging Markets and Transition Economics

Author

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  • Sanjaya Acharya

Abstract

Trade liberalization is the removal of tariff and non-tariff barriers in trade, basically international. This has significant macroeconomic and distributional effects. The Heckscher-Ohlin Trade Theorem is the basic theoretical foundation of trade liberalization. The Stolper-Samuelson Theorem, Factor Price Equalization Theorem, and Rybczynski Theorem also have made contribution in the theory of trade openness. Several studies exist in analysing distributional impacts of trade openness. These studies have cross-country comparisons, country-specific partial analysis, and general equilibrium analysis. Although it does not have any robust conclusion, general system approach is more comprehensive in studying different facets of trade integration. More recent studies reveal that trade liberalization of the developing world is growth enhancing; however, economic restructuring is deemed essential in making the impacts pro-poor.

Suggested Citation

  • Sanjaya Acharya, 2015. "Trade Liberalization," Palgrave Macmillan Books, in: Jens Hölscher & Horst Tomann (ed.), Palgrave Dictionary of Emerging Markets and Transition Economics, chapter 20, pages 393-412, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37138-6_21
    DOI: 10.1007/978-1-137-37138-6_21
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    Cited by:

    1. Shabd S. Acharya, 2006. "National Food Policies Impacting on Food Security: The Experience of India, a Large Populated Country," WIDER Working Paper Series RP2006-70, World Institute for Development Economic Research (UNU-WIDER).
    2. Ramesh Chand, 2006. "International Trade, Food Security and the Response to the WTO in South Asian Countries," WIDER Working Paper Series RP2006-124, World Institute for Development Economic Research (UNU-WIDER).
    3. A. Ganesh-Kumar & Manoj K. Panda & Mary E. Burfisher, 2006. "Reforms in Indian agro-processing and agriculture sectors in the context of unilateral and multilateral trade agreements," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2006-011, Indira Gandhi Institute of Development Research, Mumbai, India.
    4. Dipak Basu & Victoria Miroshnik, 2013. "A Critical Analysis of the Structural Adjustments and Economic Reform in India," India Quarterly: A Journal of International Affairs, , vol. 69(2), pages 159-177, June.

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