PSCI 152 Lecture Notes - Lecture 7: Limited Voting, Periphery Countries, Investment Policy
12 Dec 2016
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Document Summary
Chapter six: trade and development i import substitution industrialization. Today, mexico is one of the most open developing countries in the world: sold state-owned enterprises, liberalized wide variety of market restricting regulations. After wwii, many governments opted out of the global trading system: convinced gatt was biased against their interests, government intervention to promote rapid industrialization. Used power of the state to pull resources out of agriculture and push them into manufacturing. Until wwi, even developing countries adopted liberal trade policies: because export-oriented agricultural interests dominated politics (abundantly endowed with land, by 1950s, replaced by protectionist policies until 1980s. Trade and development policies in developing countries have been strongly shaped by political competition between rural based agriculture and urban based manufacturing. 1960 1/3 to of economic activity in developing nations was based in agriculture and less than 15% in manufacturing: exports heavily concentrated in primary commodities (agricultural products, minerals, and other raw materials)
