This work draws on a unique body of evidence from developing countries in the 1980s to assess how much trade liberalization has really taken place, what economic gains were expected and realized, and why the outcomes have varied from one country to another. Using a variety of data, the authors examine the political economy of trade liberalization and the interaction among trade and domestic reform, macroeconomic stability, and export development.

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Vinod Thomas and John Nash are both economists on the staff of the World Bank.

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