Trade and Development Report; 2005 (Trade and Development Report)

Contents......Page 6
Foreword......Page 4
Explanatory notes......Page 14
Abbreviations......Page 15
Overview......Page 18
A. Introduction......Page 28
1. Economic activity in developed countries......Page 29
2. Economic activity in developing countries......Page 31
3. Recent developments in world trade and finance......Page 37
C. The global imbalances and the United States current-account deficit......Page 39
1. Twenty-five years of deficits in the United States......Page 41
2. The surplus regions......Page 45
3. Tailoring policy measures......Page 46
1. The impact of an oil price shock on prices and economic activity......Page 47
2. The 1973–1974 and 1979–1980 oil price shocks: putting current events in perspective......Page 49
3. The impact on oil-importing developing economies......Page 52
E. Rapid growth in China and India and the profit-investment nexus......Page 55
1. The sectors driving economic growth......Page 57
2. Stable and balanced demand growth as a condition for sustained rapid growth......Page 60
3. Policy conditions underlying the Asian catching up processes......Page 62
4. Challenges for sustained growth in China and India......Page 65
Notes......Page 66
A. Introduction......Page 68
1. Changing patterns of food consumption......Page 71
2. Intensity of metal and energy use......Page 73
C. Domestic resource constraints and the balance-of-payments constraint......Page 78
1. Relative resource constraints and country size......Page 79
2. Shifts in trade composition: experiences of Asian industrialization......Page 81
1. The growing impact of China and India on global primary commodity markets......Page 97
2. The role of textile and clothing exports......Page 104
Notes......Page 109
A. Introduction......Page 112
B. The terms-of-trade problem revisited......Page 114
C. Recent trends in the terms of trade......Page 119
D. Effects of terms-of-trade changes on domestic income......Page 128
E. The distribution of gains or losses from terms of trade......Page 130
F. The distribution of export income and rent from extractive industries......Page 135
Notes......Page 141
Annex to chapter III. Distribution of Oil and Mining Rent: Some Evidence from Latin America, 1999–2004......Page 144
A. Introduction......Page 156
B. The growing importance of developing countries in global markets......Page 159
C. Shifts in the composition of developing-country exports......Page 173
D. What has changed? An assessment......Page 180
E. Policies for managing the new forms of global interdependence......Page 182
Notes......Page 187
References......Page 190