Search

Discusses the contribution of trade and of industrialization to the development of newly industrialized countries in Asia. Characteristics of trade; Composition of exports by areas and markets; Concentration of principal exports.

Utilizes the classification of developing countries according to their trade orientation that has been made available by the World Bank. Relationship between international trade and economic development; Composition of trade-orientation country groups from 1963 to 1985; Time series results for all the countries used for the entire given period.

Examines the history of industrialization in less developed countries (LDC) of the capitalist world under import-substituting industrialization and export-oriented industrialization. Reasons for the inefficient allocation of resources; Intrinsic problem of government interference; Static inefficiency of industry in LDC; Ways to achieve import-substitution of capital goods.