Problems and potentials of south-south trade with special reference to the Islamic countries
Author
Source
International Economic Relations from Islamic Perspectives
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
1992-12-31
Country of Publication
Saudi Arabia
No. of Pages
28
Main Subjects
Economy and Commerce
Islamic Studies
English Abstract
This paper provides theoretical discussion on alternative path to industrialization, and development available to the South (developing) countries with regard to trade strategy.
The author argues both collective self-reliance strategy as well as trade expansion strategy do not provide adequate solution to the problem of economic development in the South by means of trade since such strategies do not serve the interests of the countries of the South whether they are outward oriented or inward oriented in their trade and development strategies because of several reasons he dwelt on in the first section of his section of the paper.
He argues that for both inward oriented, import substitute development strategy as well as for outward oriented export-based development strategy, liberalization of trade would provide better opportunity for industrialization and development, as it enhances transfer of technology, economics of scale, and better division of labour in both types of countries.
Lastly, the author tries to apply this theoretical framework to the member countries of the Organization of Islamic Conference (OIC) suggesting that both collective self-reliance as well as within member countries trade expansion strategies may not be suitable for these countries, because of disparities in their economic structures as well as geographical location.
Alternatively he suggests a collective effort by the OIC member countries to liberalize trade with the North, especially the Economic Community (EC) countries.
He argues that the OIC member countries would benefit economically and for improving their terms of trade.
For that, he argues that a collective political effort to obtain preferential treatment in EC countries may be not only desired but also feasible.
Language
English
American Psychological Association (APA)
Nienhaus, Volker. 1992-12-31. Problems and potentials of south-south trade with special reference to the Islamic countries. International Economic Relations from Islamic Perspectives. , pp.111-138.Jiddah Saudi Arabia : Islamic Research and Training Institute.
https://search.emarefa.net/detail/BIM-778242
Modern Language Association (MLA)
Nienhaus, Volker. Problems and potentials of south-south trade with special reference to the Islamic countries. International Economic Relations from Islamic Perspectives. Jiddah Saudi Arabia : Islamic Research and Training Institute. 1992-12-31. , pp.111-138.
https://search.emarefa.net/detail/BIM-778242
American Medical Association (AMA)
Nienhaus, Volker. Problems and potentials of south-south trade with special reference to the Islamic countries. International Economic Relations from Islamic Perspectives. Jiddah Saudi Arabia : Islamic Research and Training Institute. 1992-12-31. , pp.111-138.
https://search.emarefa.net/detail/BIM-778242
Data Type
Book chapters
Notes
Paper Presented at International Economic Relations from Islamic Perspectives, in Tübingen, West Germany from 28 August to 01 September 1988 / 16-20 Muharram 1409H.
Record ID
BIM-778242
