Navigating Global Trade Policies and Developing Economies: Assessing Effects and Sustainable Strategies
Author(s): Mona Agarwal, Anurag Jhanwar
Publication #: 2312010
Date of Publication: 16.12.2023
Country: India
Pages: 1-7
Published In: Volume 9 Issue 6 December-2023
Abstract
This research paper examines the multifaceted impact of global trade policies on developing economies. Exploring historical perspectives, theoretical frameworks, effects, challenges, policy recommendations, and solutions, this study delves into the complex relationship between trade policies and the economic development of developing nations. Utilizing a wide array of scholarly sources, the paper presents a comprehensive analysis of the diverse effects of trade policies on economic growth, employment, income inequality, and structural transformation within developing economies. It further highlights the challenges faced by these nations, including structural limitations, dependency risks, market access barriers, and social disparities exacerbated by trade policies. Moreover, the paper provides policy recommendations focused on infrastructure development, diversification strategies, inclusive policies, and sustainable development initiatives to address these challenges and foster equitable and sustainable participation in the global trading system. Overall, this research contributes to a nuanced understanding of the intricate dynamics between global trade policies and the development paths of developing economies.
Keywords: Global Trade Policies, Developing Economies, Economic Development, Trade Effects, Challenges, Policy Recommendations, Sustainable Development
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