Policy Space: What, for What, and Where?

This article examines how developing countries can use, and enlarge, existing policy space, without opting out of international commitments. It argues that: (i) a meaningful context for policy space must extend beyond trade policy and include macroeconomic and exchange‐rate policies that will achiev...

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Bibliographic Details
Published inDevelopment policy review Vol. 27; no. 4; pp. 373 - 395
Main Author Mayer, Jörg
Format Journal Article
LanguageEnglish
Published Oxford, UK Blackwell Publishing Ltd 01.07.2009
Subjects
Developing countries
Development policy
development strategies
Development studies
Economic development
Exchange rates
LDCs
Macroeconomics
multilateral agreements
Multilateralism
Policy space
Policy studies
Studies
Trade policy
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Summary:This article examines how developing countries can use, and enlarge, existing policy space, without opting out of international commitments. It argues that: (i) a meaningful context for policy space must extend beyond trade policy and include macroeconomic and exchange‐rate policies that will achieve developmental goals more effectively; (ii) policy space depends not only on international rules but also on the impact of international market conditions and policy decisions taken in other countries on the effectiveness of national policy instruments; and (iii) international integration affects policy space through several factors that pull in opposite directions; whether it increases or reduces policy space differs by country and type of integration.
Bibliography:ark:/67375/WNG-MX68Z6JQ-2
istex:258000E2D76BAF7C3122C3FB610A54F9F2F5E4A3
ArticleID:DPR452
2006. He is grateful to Kevin Gallagher, Gerry Helleiner, Dieter Hesse, Detlef Kotte, Andrew Mold, Sheila Page, Ugo Panizza, Ken Shadlen, Adrian Wood, participants in a Geneva Trade and Development Workshop, and two anonymous referees for helpful comments on an earlier draft. The opinions expressed are solely those of the author and do not necessarily reflect the views of UNCTAD or its Member States.
The article draws on the author's contributions to UNCTAD's
Trade and Development Report
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ISSN:0950-6764
1467-7679
DOI:10.1111/j.1467-7679.2009.00452.x