Trade adjustment costs in developing countries : impacts, determinants and policy responses

Abstract

This book summarizes the state of knowledge in the economic literature on trade and development regarding the costs of adjustment to trade openness and how adjustment takes place in developing countries. The contributions by leading experts look at: The magnitude of trade adjustment costs in the presence of frictions in factor markets; The impacts of trade shocks and greater trade openness; The factors that affect the way trade, especially exports, adjust; Trade adjustment assistance programs in the U.S. and compensation schemes for farmers in the EU.