Skip to main content
Article thumbnail
Location of Repository

Developing countries in the global economy: a forward looking view

By John Whalley


This paper discusses what the next few decades could bring for the developing countries in terms of the size and composition of their trade and inward investment flows, as well as a possibly changing policy framework within the global economy in which they have to operate. Both the prospects and implications are clearly different from country to country, but given the breadth of the paper the focus is more on impacts on groups of countries rather than on specific countries.\ud \ud The bottom line of the paper, is a cautious one. Three nagging questions are repeatedly re-emphasized. Can trade growth really be high enough on the import side in the OECD if now 100 or more developing countries see globalization and increased exports as their primary route to growth, industrialization, and development. Can barrier reductions in OECD markets and future WTO negotiations be relied on to fuel this, as in the past; and is there a more sinister scenario that new barrier increases could even choke off some of the trade growth? And what is to happen to development strategies if this course fails, as it seemingly has done so already for the low income countries? Having posed these questions, there are bright spots; the more rapid growth of South-South trade, even more rapid growth of least-developed to mid-developed country trade; higher growth rates of FDI than trade, and more and more developing country trade being investment driven. The papers’ overriding message is perhaps that the world is not static, and country strategies toward the global economy need to reflect this

Topics: HF, JZ
Publisher: University of Warwick. Centre for the Study of Globalisation and Regionalisation
Year: 1999
OAI identifier:

Suggested articles


  1. (1994). A Quantitative Assessment of the Uruguay Round’s Effects and Their Implications for Developing Countries”,
  2. (1998). Africa and the World Trading System: A Case Study of Kenya”, paper presented to an AERC Workshop,
  3. (1998). Argentina and the WTO: As Good As It Gets”, paper presented at a meeting of an
  4. (1998). Background Statistics of Anti Dumping Measures”, paper presented at a meeting of an Ad Hoc Expert Group of the Secretary General of UNCTAD on Preparing for Future Multilateral Negotiations,
  5. (1998). Electronic Commerce and the Role of the WTO, doi
  6. (1997). Environmental Issues in the New World Trading System,
  7. (1998). Globalization, Social Conflict and Economic Growth”, The World Economy,
  8. (1998). Launching New Global Trade Talks: An Action Agenda,
  9. (1992). Linkages and Carbon Reduction Initiatives" doi
  10. (1998). Multilateral Approaches to Market Access Negotiations”, paper prepared for a conference on Multilateral and Regional Trade Agreements: An Analysis of Current Trade Policy Issues, organized by the OAS, WTO, and Georgetown University, and held in
  11. (1994). News of the Uruguay Round of Multilateral Trade Negotiations”, Information and Media Relations Division of GATT, doi
  12. (1997). Open Regionalism”, The World Economy, doi
  13. (1998). Textiles Beyond the MFA Phase Out”, paper presented to a conference in honour of the 50 th Anniversary of GATT/WTO,
  14. (1998). The Architecture of a New Millennium Round” Paper presented to a conference on the 50 th Anniversary of the GATT/WTO at
  15. (1998). The New Regionalism: Trade Liberalization or Insurance?”, doi
  16. (1998). The Regionalization of the World Economy, doi
  17. (1996). The Trading System After the Uruguay Round, The Institute of International Economics,
  18. (1989). The Uruguay Round and Beyond: Developing Countries in the Global Trading System, doi
  19. (1995). The Uruguay Round and The Developing Countries, World Bank Discussion Paper No. 307, doi
  20. (1997). The WTO and The Global Economy”, The World doi
  21. (1996). Trade and Environment Beyond Singapore”, doi
  22. (1998). Trade and Growth in Small States: The Impact of Global Trade Liberalization”, The World Economy, doi
  23. (1998). Uruguay Round Results and the Emerging Trade Agenda,
  24. (1998). Whither the World Bank and the IMF?”
  25. (1997). World Investment Report, doi
  26. (1996). World Tourism Organization doi
  27. (1998). World Trade Organization Annual Report, doi

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.