Changing Dimensions of Malaysian Trade: Beyond Laissez Faire and Dirigiste Approaches
The debate on the role of trade in the process of industrial development in developing countries has a long history. For many years developing economies were faced with the grim prospect of facing continued economic stagnation as characterized by Africa and Latin America. It gave rise to a plethora...
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| Main Authors: | , , |
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| Format: | E-Article |
| Language: | English |
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Universiti Malaysia Sarawak, (UNIMAS)
2000
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| Online Access: | http://ir.unimas.my/id/eprint/9229/1/CHANGING%20DIMENSIONS%20OF%20MALAYSIAN%20TRADE%20BEYOND%20LAISSEZ%20FAIRE%20AND%20DIRIGISTE%20APPROACHES.pdf http://ir.unimas.my/id/eprint/9229/ http://www.ijbs.unimas.my |
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| Summary: | The debate on the role of trade in the process of industrial development in developing countries has a long history. For many years developing economies were faced with the grim prospect of facing continued economic stagnation as characterized by Africa and Latin America. It gave rise to a plethora of inward-oriented prescriptions from trade pessimists who have often argued that the capacity of developing economies to grow through export-orientation is limited because of the slow growth in world demand for their exports and the tendency of the terms of trade to disfavour them (Nurkse, 1959; Prebisch, 1959, 1983; Singer, 1950; Stewart, 1976; Lewis, 1980). Such a view was echoed by the Secretary General of the United Nations Committee for Trade and Development (UNCTAD) who maintained the developing countries did not share in three decades of post-war prosperity because of the “existence of basic weaknesses in the mechanisms that link the economies of the two groups of countries” (UNCTAD, 1977: 8-9) |
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