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Trade and Development Report 1981

image of Trade and Development Report 1981

This publication identifies the key issues in the global economy and the design of development strategies addressed in the Trade and Development Report over the past three decades, tracing them through its various editions. It shows how ideas, opinions and proposals expressed in the Trade and Development Report, and the analytical approaches used, differed from those of “the mainstream” and their evolution in response to new challenges. This review revisits the concept of interdependence and explains the approach of the reports to macroeconomic and financial policies in both developed and developing countries. It also summarizes development policy failures and successes over the years.

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The internationalization of output and trade

The growth, nature and composition of world trade has been revolutionized in the third quarter of the 20th century. At the centre of this process has been the transnational corporation (TNC) whose activities now dominate industrial, trading, banking, service and retail sectors at the global level. In one manner or another, the influence of these corporations now extends over the major proportion of world trade (excluding the socialist countries). Moreover, approximately two-fifths of all international trade is carried out through intra-firm transfers of TNCs. These trading patterns are organically linked to recent corporate evolution in manufacturing and related service activities. They not only reflect the transition to oligopolistic structures in most major industrial sectors and the growing prevalence of control by conglomerates over wide areas of economic activity in developed market-economy countries but have also contributed to them.

English

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