Journals Higher Education



Published: 01 May 2019

384 Pages

6-1/8 x 9-1/4 inches

ISBN: 9780190914493

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Bookseller Code (1A)

Free Trade and Prosperity

How Openness Helps the Developing Countries Grow Richer and Combat Poverty

Arvind Panagariya

  • First book-length defense of free trade with the developing countries at its center
  • Shows how openness has been critical to growth and poverty reduction
  • A systematic critique of import substitution industrialization and infant industry protection
  • Exposes the myths of growth through industrial policy and protection by free trade critics
  • Documents compelling empirical evidence linking the volume of trade causally to high per capita income
  • A detailed examination of the experience of Singapore, Taiwan, South Korea, China and India demonstrating that trade openness has been a central element in their rapid growth and success in poverty alleviation

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