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Trade and Development Report 2003

Capital Accumulation, Growth and Structural Change

image of Trade and Development Report 2003

Trade and Development Report 2003 offers a distinct perspective on global economic trends and prospects and raises some disturbing questions about the frail state of the trade-development nexus - particularly critical in the aftermath of Cancún. It traces the difficulties back to the surges in global trade and financial flows in the 1990s and warns that pushing liberalization at a time of sluggish global growth and unemployment runs the danger of rekindling mercantilist reactions in advanced countries and false expectations in developing countries.

English

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Overview

The past two decades have been shaped by a radical shift in development thinking and practice. In the wake of the debt and development crisis of the 1980s, a new policy approach looked to liberate enterprise from state intervention, deferring to the invisible touch of global market forces. The promise was for an end to macroeconomic chaos, stop-go development cycles and debilitating levels of debt, ushering in an era of sustained growth and poverty reduction. The collapse of the Berlin Wall gave this agenda global reach.

English

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