Oxford Review of Economic Policy volume 23, issue 3, P415-439 2007 DOI: 10.1093/oxrep/grm018 View full text
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C. P. Bown, R. McCulloch

Abstract: For countries to engage successfully in the international trading system, their industries, firms, and workers must respond continually to new conditions of competition. The continuing need to adjust arises both from policy changes approved in multilateral negotiations -e.g., implementation of trade liberalization commitments, preference erosion, or adverse terms-of-trade consequences of export subsidy elimination -and from ongoing changes in competitive pressures inherent in a liberal trading system -e.g., ef…

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