5.1 The development model should determine the optimal trade policy: Economic Report on Africa 2007
5.1 The development model should determine the optimal trade policy: Economic Report on Africa 2007
in open and closed economies. The difference between the two is that the turning
point after reasonable and sustainable development has been achieved occurs at a
much earlier point for open economies compared to the case for closed economies.
In fact, countries that went through a minimum level of specialization relatively
early tended to be substantially more open to trade, on average by 15 percentage
points (Imbs and Wacziarg 2003). They showed that the turning point occurred at
a per capita income level of $5,405 for an average openness of 78 per cent for open
economies while it occurs much later in the development process at a per capita
income of $9,161 for an average openness of 47.4 per cent for closed economies.
Thus, depending on which development model a country pursues, it can remain less
open and still diversify with the turning point occurring much later in the development
path. Alternatively, a country could consider a much earlier diversification
turning point more optimal and as such be comfortable with an aggressive tradeopenness
policy.
Hence, these results simply add weight to the arguments made by proponents of
gradualism in trade liberalization, especially for developing countries. Proponents of
a gradual approach to trade liberalization point out that there are inherent constraints
in countries that limit their ability to build a competitive advantage to export new
products in a short period of time. As such, they argue for policy space that would
allow them to pursue policies conducive to diversification through industrialization.
This argument is even more relevant for those economies that are commoditiesdependent
in their export base. These results reinforce to some extent the argument
that calling for policy space is a good approach. Calls for such space from multilaterally
imposed policies are not misplaced when viewed in the context of strategic trade
policy.
51 The development model should determine the optimal trade policy Economic Report on Africa 2007 - To learn more about this author, visit United Nations Economic Commission for Africa's Website.
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The two-stage diversification process from economic history has been registered both
in open and closed economies. The difference between the two is that the turning
point after reasonable and sustainable development has been achieved occurs at a
much earlier point for open economies compared to the case for closed economies.
In fact, countries that went through a minimum level of specialization relatively
early tended to be substantially more open to trade, on average by 15 percentage
points (Imbs and Wacziarg 2003). They showed that the turning point occurred at
a per capita income level of $5,405 for an average openness of 78 per cent for open
economies while it occurs much later in the development process at a per capita
income of $9,161 for an average openness of 47.4 per cent for closed economies.
Thus, depending on which development model a country pursues, it can remain less
open and still diversify with the turning point occurring much later in the development
path. Alternatively, a country could consider a much earlier diversification
turning point more optimal and as such be comfortable with an aggressive tradeopenness
policy.
Hence, these results simply add weight to the arguments made by proponents of
gradualism in trade liberalization, especially for developing countries. Proponents of
a gradual approach to trade liberalization point out that there are inherent constraints
in countries that limit their ability to build a competitive advantage to export new
products in a short period of time. As such, they argue for policy space that would
allow them to pursue policies conducive to diversification through industrialization.
This argument is even more relevant for those economies that are commoditiesdependent
in their export base. These results reinforce to some extent the argument
that calling for policy space is a good approach. Calls for such space from multilaterally
imposed policies are not misplaced when viewed in the context of strategic trade
policy.
51 The development model should determine the optimal trade policy Economic Report on Africa 2007 - To learn more about this author, visit United Nations Economic Commission for Africa's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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