By Bela Balassa (auth.)

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J. de Melo, 'Estimating the Cost of Protection: A General Equilibrium Approach,' Quarterly Journal of Economics, XCII (1978) p. 217. The results 30 30. 31. 32. 33. 34. 35. 8 percent, respectively, postulating an optimal export tax for coffee, which is subject to an international agreement. W. Grais, J. de Melo, and S. Urata, 'A General Equilibrium Estimation of the Effects of Reductions in Tariffs and Quantitative Restrictions in Turkey in 1978,' in T. N. Srinivasan and J. : MIT Press, 1986) p.

During the period under consideration, the increased outward orientation of the Far Eastern NICs accounts for the acceleration of the growth of their manufactured exports while changes in the policies applied explain the reversal in manufactured export market shares in Latin America. These countries reformed their economic policies after the mid-1960s, involving a (partial) shift from inward to outward orientation but again turned inward after 1973, with Brazil providing a partial exception. 80 $bn ......

1. 54. J. B. Behrman, 'Country and Sectoral Variations in Manufacturing Elasticities of Substitution between Capital and Labor,' in A. 0. ), Trade and Employment in Developing Countries 2. Factor supply and Substitution (Chicago: University of Chicago Press, 1982) p. 186. 55. Fields further made comparisons with three small developing countries (Barbados, Jamaica, and Trinidad and Tobago) he considered as open economies albeit, given their high level of protection, they may better be classified as inward-oriented.

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