ERIC Number: ED244866
Record Type: RIE
Publication Date: 1984-May-23
Reference Count: 0
International Trade and Global Economic Growth: The Critical Relationship.
Clausen, A. W.
In this address, the president of the World Bank and the International Finance Corporation indicates that all countries, industrial and developing, have a stake in an open international trading system. The experience of the World Bank in working closely with its developing member countries has demonstrated that healthy and sustained economic growth goes hand in hand with a rapid expansion of exports. The export prospects of developing countries depend on internal domestic policies and on external conditions such as the growth rate of the GNP in the industrial countries and the degree to which their markets are open to the developing countries' products. The developed and developing nations are economically interdependent. For example, industrial nations constitute almost two-thirds of the world market for Third World exports; developing countries take 40 percent of all U.S. exports. The World Bank plays a vital role in the trade field by providing information and analyses on the links between trade and development, by promoting the greater integration of Third World countries into the international trading system, and by supporting efforts which foster an open-trading system. (RM)
Publication Type: Opinion Papers; Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: World Bank, Washington, DC.
Identifiers: Economic Growth; Imports; Interdependence; Recession; Third World; Trade Protectionism; World Bank
Note: Address delivered before the Detroit Economics Club (Detroit, MI, May 23, 1984).