chapter whatever

Is it true that developed nations are limiting market access to developing countries' goods and services, and if so what are various ways that developed economies have limited market access?

I do not think they are not

Describe the strategy that East Asia used from the 1970s to the 1990s to achieve high rates of economic growth. Can the Asian miracle continue in the new millennium?

East Asian economies have achieved high rates of growth from the 1970s to the 1990s as a result of high rates of invest increasing endowments of an educated workforce and the use of export-promotion policies. The East Asian countries included Taiwan, South Korea, Indonesia, Malaysia, Thailand, Hong Kong, and Singapore. These countries first enacted policies of import substitution to promote economic growth by encouraging domestic industries to produce goods that were formerly imported, although this led to increased domestic production however the east Asian economies have suffered large trade deficits because of import substitution policies.

Discuss whether commodity terms of trade deteriorated for the developing countries. Provide reasons if that is the case. Does empirical evidence support or negate it?

From what I have discovered, there is empirical evidence that supports the statement above because, according to economicsonline.co.uk that in the prebisch- singer hypothesis, it is said that in many developing countries, given the general decline in commodity prices in relation to the amount of manufactured goods tend to deteriorate. the reason I think this is accurate is that in the long term, it declines in real commodity prices. Therefore, it worsens the terms for primary exporters, then to better off focusing on import substitution policies.

How are import substitution and export promotion policies used to aid in the industrialization of developing nations

Import substitution is the act of a country establishing and developing a domestic industry to produce goods that are typically imported, and it pushes the nation toward self-sufficiency. It is easier for developing nations to protect its manufacturers against foreign competitors. Overall these actions/policies are used to aid developing nations in the process of industrialization

compare and contrast the world bank and international monetary fund.

In how these organizations are the same is that they are based in Washington, D.C, and were both established by the Bretton Woods Agreement in 1945. They both lend money to other countries as well. The world bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid in their economic advancement while the international monetary fund tries to maintain the global financial system.

Explain import substitution led to growth and export-led growth. List the advantages and disadvantages to each of these strategies and provide examples of countries that have succeeded in using these independent strategies.

One of the advantages of export-led growth is because of the increase in efficiency due to export-oriented growth; moreover it more efficient with innovative technologies. Both exporting in an economy and the economy The disadvantage of export-led growth dependence on foreign markets the export0led growth of the economy of an economy is almost entirely dependent on foreign markets. Moreover, there is a little bit of imbalance in the foreign market that can lead to decrease in growth in the home country. The advantage of consumption-led growth means consumption is the primary source of increasing aggregate demand and economic growth. It also requires spending a good income on use, so they must earn more in order to consume more. The disadvantage of consumption-led growth can lead to high current account deficit in the short run because of an increase in demand for exports.

The generalized system of preferences is intended to help developing nations gain access to world markets. Explain.

The generalized system of preferences is a program adopted by advanced nations to give developing nations access to their markets in hopes of promoting economic development. The program does so by temporarily reducing tariffs on designated manufactured imports from evelo9ping nations below the levels applied to imports from other industrialized nations because the volume of trade barriers is reduced by gsp program.