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Trade reform and external adjustment : the experience of Hungary, Poland, Portugal, Turkey, and Yugoslavia (Inglês)

This seminar brought together ministers and other senior officials of five middle-income countries form Eastern and Southern Europe which form a part of the World Bank's Europe, Middle East, and North Africa region. One of the major points of interest in the seminar was to establish the sense in which centrally planned economies face a fundamentally different set of problems when trying to reform trade policies than do market economies. This summary paper attempts to synthesize the major issues which arose from the seven presentations as well as from the lively discussion from the floor of the seminar which characterized each of its sessions. This is done by reference to the following broad themes: the origins of the need for adjustment; the nature of the necessary adjustments; the role of trade reform in the adjustment process; the special trade reform problems in socialist countries; the policy content of adjustment and the role of devaluation; sequencing and the characteristics of successful trade liberalization; and the international environment for trade reform. On some of these themes there was considerable unanimity of view across the very diverse set of countries whose experiences were recounted. On others, such as whether trade reform is a substantively different problem in socialist as compared to capitalist systems, there were a number of different perspectives which were not reconciled by discussion.


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    Roe, Alan Roy, Jayanta

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    Europa e Ásia Central,

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    Europa e Ásia Central,

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    Trade reform and external adjustment : the experience of Hungary, Poland, Portugal, Turkey, and Yugoslavia

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