1945

Fostering coherence between the international trading, monetary and financial systems

Developing countries depend on a favourable international trading environment to reap the full benefits of their integration into the world economy. Equally important for their successful integration is the creation of strong supply capacities. An essential lesson from the experiences of countries that combined successful integration into the world economy with sustained growth is the critical role of active and well sequenced policies to augment the existing stock of physical and human capital, enable the use of more efficient technologies, and shift resources from traditional, lowproductivity activities towards activities that offer a high potential for productivity growth.

Related Subject(s): International Trade and Finance
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