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The Least Developed Countries Report 1996

image of The Least Developed Countries Report 1996

Reviews recent socio-economic development in the least developed countries (LDCs) and the progress in the implementation of support measures. Chapters deal with such issues as possibilities of further debt-relief, role of micro-enterprises and the role of women and environmental problems in the LDCs. The main theme of the 1996 Report is the impact of globalization and liberalization on the LDCs.

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Globalization and liberalization: Implications for LDCs

Globalization has become an increasingly dominant feature of the world economy over the last decade. It is a multifaceted phenomenon, salient characteristics of which include rapid growth of international trade and capital flows, the increasing importance of services in both trade and foreign direct investment (FDI), the global integration of production processes, and institutional harmonization among countries with regard to trade, tax and investment policies, and other regulations (Sachs and Warner, 1995, pp.1-2). Economic relations between nations are increasingly conditioned by the disciplines of multilateral institutions such as the World Trade Organization (WTO) and regional groupings.

English

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