LIBERALIZING FOREIGN-TRADE THROUGH ROSE-TINTED GLASSES

This World Bank organised study describes and evaluates 36 liberalisation episodes in 19 countries during the period 1950-1982. It is the most comprehensive cross-country analysis of liberalisation episodes undertaken. This article is an assessment of the contribution which this massive project has made. It is organised as follows. Section II outlines the issues addressed - the questions asked by the analysts, country coverage, methodology and so on and highlights the strengths of the study. Section III, which is the core of the article, offers a critique, with particular reference to the methodology used, the results reported and the interpretation of those results. Section IV assesses the research agenda which remains, having regard to questions which were unanswered or were not asked. Finally, Section V provides some concluding comments. -from Author