Trade policies and the debt crisis
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.
|Date of creation:||30 Sep 1988|
|Date of revision:|
|Contact details of provider:|| Postal: 1818 H Street, N.W., Washington, DC 20433|
Phone: (202) 477-1234
Web page: http://www.worldbank.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- André Sapir & Sam Laird, 1987. "Tariff preference," ULB Institutional Repository 2013/8248, ULB -- Universite Libre de Bruxelles.
When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:99. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi)
If references are entirely missing, you can add them using this form.