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Weeks, John (2007) 'Exports, foreign investment and growth in Latin America: scepticism by way of simulation.' In: Sheikh, Anwar, (ed.), Globalization and the Myths of Free Trade. New York: Routledge. (Routledge Frontiers of Political Economy)

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All decisions involving the allocation of resources have an opportunity cost, and this applies as much to export growth and foreign investment as to other economic variables. Rational policy involves maximization of both subject to relevant constraints. To foster export growth unconstrained by any objective function is mercantilism, discredited by Adam Smith over two centuries ago. Similarly, a policy regime that seeks to maximize foreign direct investment flows as if these were costless is non-rational. The basic strategy issue is what policy framework is likely to maximize the benefits of each.

Item Type: Book Chapters
SOAS Departments & Centres: Legacy Departments > Faculty of Law and Social Sciences > Department of Development Studies
ISBN: 9780415770477
DOI (Digital Object Identifier):
Date Deposited: 23 Feb 2009 15:04

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