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9780190914493

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In this important book, Arvind Panagariya shows-in a clear and accessible way-how freer trade in developing countries has helped them to flourish. Wading into controversial territory in dealing with the Asian Tigers and others, Panagariya takes on critics and makes the case that trade, not industrial policy, is responsible for their success. Highly recommended! -Douglas Irwin, Dartmouth College, author of Clashing over Commerce: A History of U.S. Trade Policy As protectionism is becoming fashionable again, the battles that were waged successfully by free traders against the protectionists of yesterday must be fought again. Panagariya's brilliant book does precisely that. It shows up the intellectual bankruptcy of the new protectionists' myriad assaults on free trade, using impeccable logic and convincing evidence. It is a tour d'horizon and a tour de force. -Jagdish Bhagwati, author of In Defense of Globalization This authoritative book brilliantly combines theoretical arguments with a thorough reading of the historical experience to argue the merits of a unilaterally liberal trade regime for developing countries, as a driver of growth and poverty reduction. It is essential reading, especially in these uncertain times when ill-guided populism and anti-trade sentiment threaten to derail globalization altogether (rather than to improve upon it) and forfeit its many gains. -Pravin Krishna, Chung Ju Yung Distinguished Professor of International Economics, Johns Hopkins University Professor Panagariya has produced an extremely thorough and comprehensive treatment of the role of trade in developing countries. In addition to showing that low and declining protection is conducive to growth and poverty reduction, he also addresses critics of this conclusion and counters their arguments. I expect he will convince many people with this eminently readable book. -Alan Deardorff, University of Michigan

Professor Panagariya has produced an extremely thorough and comprehensive treatment of the role of trade in developing countries. In addition to showing that low and declining protection is conducive to growth and poverty reduction, he also addresses critics of this conclusion and counters their arguments. I expect he will convince many people with this eminently readable book. * Alan Deardorff, University of Michigan * This authoritative book brilliantly combines theoretical arguments with a thorough reading of the historical experience to argue the merits of a unilaterally liberal trade regime for developing countries, as a driver of growth and poverty reduction. It is essential reading, especially in these uncertain times when ill-guided populism and anti-trade sentiment threaten to derail globalization altogether (rather than to improve upon it) and forfeit its many gains. * Pravin Krishna, Chung Ju Yung Distinguished Professor of International Economics, Johns Hopkins University * As protectionism is becoming fashionable again, the battles that were waged successfully by free traders against the protectionists of yesterday must be fought again. Panagariya's brilliant book does precisely that. It shows up the intellectual bankruptcy of the new protectionists' myriad assaults on free trade, using impeccable logic and convincing evidence. It is a tour d'horizon and a tour de force. * Jagdish Bhagwati, author of In Defense of Globalization * In this important book, Arvind Panagariya shows-in a clear and accessible way-how freer trade in developing countries has helped them to flourish. Wading into controversial territory in dealing with the Asian Tigers and others, Panagariya takes on critics and makes the case that trade, not industrial policy, is responsible for their success. Highly recommended! * Douglas Irwin, Dartmouth College, author of Clashing over Commerce: A History of U.S. Trade Policy *

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Arvind Panagariya is Professor of Economics and the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University. From January 2015 to August 2017, he served as the first Vice Chairman of the NITI Aayog, Government of India in the rank of a Cabinet Minister. Previously he was Chief Economist of the Asian Development Bank. He is the author of India: The Emerging Giant (2008, OUP) and his columns have appeared in the Financial Times, Wall Street Journal and India Today.

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