1945

A large number of developing countries liberalized their trade regimes in the late 1980s and early 1990s. These reforms were generally part of a more comprehensive set of structural adjustment measures aimed at accelerating economic growth. The measures, in turn, were a response both to the economic crisis which many developing countries faced in the past decade and to a general disenchantment with excessive State intervention in economic affairs. As a result of these reforms, the number of developing countries with fairly free trade regimes (and, indeed, fairly liberal overall economic environments) has increased markedly over the past few years.

Related Subject(s): International Trade and Finance
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