Openness, Trade Liberalization and Growth in Developing Countries

摘要

The paper critically reviews the literature on the relationship between tradeorientation and economic growth in the developing countries. The paper is divided into three main parts. Part I deals with large multicountry studies, and analyzes the methodology used in these works, as well as the results obtained. In discussing these issues the author emphasizes the role of exchange rate policy during the transition from protected to liberalized economies. The analysis tackles the effectiveness of devaluation in Africa. The author argues that there is increasingly abundant evidence suggesting that the historical 'devaluation pessimism' in Africa is unwarranted.