Economic Policies at Cross-Purposes: The United States and Developing Countries

Economic Policies at Cross-Purposes: The United States and Developing Countries

Economic Policies at Cross-Purposes: The United States and Developing Countries

Economic Policies at Cross-Purposes: The United States and Developing Countries

Synopsis

The purposes of this book are to aid in the development of sound public policies and to promote public understanding of issues of national importance.

Excerpt

In the early postwar years, U.S. economic policy toward developing countries consisted almost entirely of foreign aid. Over time developing countries have become increasingly differentiated. As that has happened, U.S. policies regarding international trade, capital flows, debt forgiveness, and the multilateral institutions have assumed growing importance. Unfortunately each set of policies has operated largely independently of the others. Indeed, in some instances, they have offset one another.

In this book, Anne Krueger analyzes the development of these American policies, showing how they have evolved at cross-purposes. She then illustrates her analysis by considering U.S. international economic policies for the Caribbean Basin Initiative and Korea. in each instance, domestic concerns--mostly over sugar and textiles in the case of the Caribbean, and over import competition and the trade balance in the case of Korea--have offset measures designed to support those countries' economic growth. Finally, the author uses these examples to illustrate the urgent need for greater consistency and coordination of American international economic policies.

Anne O. Krueger is Arts and Sciences Professor of Economics at Duke University and a nonresident senior fellow in the Economic Studies program at Brookings. Much of the research for this study was undertaken while she was at Brookings on leave from Duke. She is grateful to Henry J. Aaron and Charles L. Schultze of Brookings for their support of the project.

The author benefited greatly from the comments and suggestions of a number of people. They include David Finch, Stanley Fischer, Robert Z. Lawrence, Constantine Michalopoulos, and Ernest Stern, who read and made valuable comments on the entire manuscript; Rosalinda Quintanilla, who was very helpful in commenting on and suggesting additional sources for chapter 6; and James Fox, who was . . .

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