Developing countries have had an ambivalent attitude toward international trade as a means of stimulating economic growth and development. On the one hand, their policymakers have been skeptical of a trade-oriented strategy because it appears to be associated historically with colonialist domination, unstable export prices, dualistic patterns of economic growth, and an emphasis on nonindustrial production. On the other hand, developing countries wishing to become less dependent on the developed countries still have a need for foreign exchange to finance the importation of industrial raw materials, intermediate goods, and capital goods not available locally. When prices for their exports are favorable and world market demand is strong, trade seems clearly beneficial to growth and development. Accordingly, developing countries are motivated to seek ways of keeping export prices high and expanding the market for their products.
Unable to display preview. Download preview PDF.
- Bath, C. Richard, and Dilmus D. James. “Dependency Analysis of Latin America.” Latin American Research Review, 11 (1976/3) , 3–54.Google Scholar
- Cohen, Benjamin. The Question of Imperialism: The Political Economy of Dominance and Dependence. New York: Basic Books, 1973.Google Scholar
- Frank André Gunder. Latin America: Underdevelopment or Revolution. New York: Monthly Review Press, 1969.Google Scholar
- Furtado, Celso. Development and Underdevelopment. Berkeley: University of California Press, 1964. (Original Portuguese edition, 1961.)Google Scholar
- Kenen, Peter B., and Raymond Lubitz. International Economics, 3rd ed. Englewood Cliffs, N.J.: Prentice-Hall, Inc., 1971.Google Scholar
- MacBean, Alasdair J. Export Instability and Economic Development. Foreword by Edward S. Mason. Cambridge, Mass.: Harvard University Press, 1966.Google Scholar
- Prebisch, Raul. The Economic Development of Latin America and Its Principal Problems. New York: United Nations Economic Commission for Latin America, 1950.Google Scholar
- Prebisch, Raul. Reprinted in Economic Bulletin for Latin America, 7 (February 1962) , 1–22.Google Scholar
- Singer, Hans B. “The Distribution of Gains between Borrowing and Investing Countries.” American Economic Review, 40 (May 1950) , 473–485.Google Scholar