Trade policy issues and developments

Trade policy issues and developments

164 Book reviews Shailendra J. Anjaria, Naheed Kirmani and Arne B. Petersen, Trade Policy Issues and Developments, IMF Occasional Paper No. 38 (Inte...

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164

Book reviews

Shailendra J. Anjaria, Naheed Kirmani and Arne B. Petersen, Trade Policy Issues and Developments, IMF Occasional Paper No. 38 (International Monetary Fund, Washington, DC, 1985) pp. 161. This volume reviews recent developments in trade and outlines the main issues facing governments in the international trade policy field with particular emphasis on policy developments in the major trading nations as they relate to trade in both industrial and agricultural products. In addition, this work includes a review of trade policies in developing countries and refers to available quantitative evidence on protectionism wherever possible. The material presented is divided into two parts. Part One draws together the salient features of recent developments and outlines the prospects for trade policy by highlighting the main issues that will determine the scope and timing of liberalization under a possible new GATT round of multilateral trade negotiations. Part Two provides extensive background analysis and statistical information. Section I of Part Two describes recent trade trends, briefly reviews the overall stance of trade policies in major industrial countries, discusses examples of recent trade legislation and presents quantitative estimates of the extent and costs of protection. Section II describes the recent evolution in the framework for international trade. Sections III and IV describe trade actions by major industrial countries in individual manufacturing and agricultural sectors respectively, including quantitative estimates of the costs of protection in individual sectors. The trade policies of developing countries, and the implications for them of trade restrictions in foreign markets, are reviewed in Section V. The role of the Fund in trade, and its collaboration with the GATT, is described in Section VI. Unless otherwise specified, trade data and the classifications of countries and regions used in this paper are those of the GATT and given in Appendix I. Statistical tables are included in appendix II. CERBAF Rome

Lloyd Bankson and Michael Lee, eds., Euronotes (Euromoney Publications, London, 1985)pp. 183. After the massive development of the FRN market which has taken place since 1983, the international financial market has witnessed the rapid rise of new types of 'composite' financial instruments which, in this specialized volume, are analysed under the collective name of Euronotes. The most important of these new financial instruments are known with the