Timing and Sequencing of Trade Liberalization in the Least Developed Countries: Does Foreign Aid Play a Role?
On the basis of new hand-gathered information on the trade policy changes that have occurred in 27 least developed countries (LDCs), this paper presents new fi ndings on the timing, speed and chronological sequencing of the liberalization effort in the LDCs. Periods, rather than single years, were selected for the identifi cation of the timing of trade openness. Seven LDCs have liberalized their economies at an equal pace or faster than those countries often used as models for fast liberalization reform. A probit model shows that international per capita aid fl ows have increased the likelihood of having fast trade liberalization.
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Volume (Year): 60 (2007)
Issue (Month): 1 ()
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