This paper examines the extent to which the meetings of the United Nations Conference on Trade and Development (UNCTAD) serve India's self-interest. The first part studies the reasons behind the establishment of UNCTAD and the main issues discussed at the Conferences. The second part analyzes the problems of the Indian economy and the extent to which the issues discussed at UNCTAD would help in overcoming these problems. The final conclusion is that even acceptance and implementation of the proposals put forth by the developing countries (LDCs) would make only a small contribution towards resolving Indian economic problems.
Get full access to this article
View all access options for this article.
References
1.
1 KeynesJ.M., General Theory of Employment: Interest and Money (London, 1945). For an evaluation of the effect of Keynes on policy-making see P.A. Samuelson, “The General Theory” and “A Brief Survey of Post-Keynesian Developments,” in R. Lekachman, Keynes' General Theory: Reports of Three Decades (London, 1964).
2.
2 NurkseR., Problems of Capital Formation in Underdeveloped Countries (Oxford, 1953); American Economic Review (Wisconsin), Vol. 40, May 1950.
3.
3 For an analysis of such policies see Joan Robinson, “Beggar-My—Neighbour Remedies for Unemployment” In her Essays on the Theory of Employment (Oxford1947).
4.
4 For an analysis of GATT activities see, A.I. MacBean and P.N. Snowden, International Institutions in Trade and Finance (London, 1981).
5.
5 PrebischR.NurkseR., Patterns of Trade and Development, Wicksell Lectures, Stockhom, 1959. For a criticism of Nurkse's ideas see—A Cairncross, “International Trade and Economic Development,” Kyklos, (Basel Switzerland), Vol. XIII, 1960, reprinted in A. Cairncross, Factors in Economic Development (London, 1962).
6.
6 The analysis of the equalizing effects of international trade was originally analysed by P.A. Samuelson in the articles, “International Trade and Equalization of Factor Prices Economic Journal, Vol. 58, 1948, and “International Factor-Price Equalization Once Again,” Ibid., Vol. 59, June 1949. For the disequalizing effects see Myrdal, Singer and Prebisch, n. 2.
7.
7 For the history of the establishment of UNCTAD seeA.I. MacBean and P.N. Snowden, International Institutions in Trade and Finance, n. 4.
8.
8 See Proceedings of the UNCTAD, Vol. I, United Nations, New York, 1964.
9.
9 Economist (London), 11 April 1964.
10.
10 Economist, 5 May 1964.
11.
11 See Proceedings of the UNCTAD, Second Session, Vol. I, United Nations, New York, 1968.
12.
12 For a discussion on restrictions on exports of LDCs see R.H. Green, Access for Exports: The New Protectionism and Notes Towards Negotiable Proposals, “Industrial Policies of Rich Countries and Market Access for LDC Manufactures,” both in ArjunSengupta (Ed.), Commodities, Finance and Trade (London, 1980).
13.
14 The Cotton Textile Agreements are discussed in D.B. Keesing and M. Wolf. Textile Quotas Against Developing Countries, Thames Essay No. 23, London, 1980.
14.
15 SrinivasanT.N., “Why Developing Countries Should Participate in the GATT,” The Third Harry G. Johnson Memorial Lecture, The World Economy (Amsterdam), Vol. V, no. 1, March 1982, pp. 85–104.
15.
16 For a discussion of the international economic situation see International Monetary Fund, Annual Report various issues.
16.
17 The effect of the oil price rise on LDCs is discussed inHelleinerG. K. (Ed.), A World Divided: the LDCs in the International Economy, (Cambridge, U.K.1976).
17.
18 See Proceedings of the UNCTAD, Fourth Session, New York, 1977 and Proceedings of the UNCTAD, Fifth Session, New York, 1980.
18.
19 DiazAlejandro, “The Post-1971 International Financial System and the Less Developed Countries,” in HelleinerG. K. (Ed.), n. 16. It contains an analysis of the effect of fluctuating exchange rates on LDCs and what the appropriate response of the LDCs would be.
19.
20 WilliamsonJ., Failure of International Monetary Reform, 1971–74 (London, 1977).
20.
21 For a comparison of benefits of the GSP, with tariff reductions, see WilliamR. Chineet. al, Trade Negotiations in the Tokyo Round (Washington D.C., 1978).
21.
22 The speech by Kissinger, American Secretary of State at the United Nations, seemed to herald the acceptance of commodity schemes by the United States which had been a major and strong critic of such schemes.
22.
23 For an analysis of the Common Fund see AvramovicD., “Common Fund: Why and of What Kind,” in ArjunSengupta (Ed), International Commodity Agreements: An Evaluation of the UNCTAD Integrated Commodity Programme, Overseas Development Council, Washington, D. C., 1977.
23.
24 The problems of pricing of mineral resources are discussed in N. Girvan, Corporate Imperialism: Conflict and Expropriation (White Plains, N.Y., 1976).
24.
25 The general problem of intra-firm trade is discussed in G.K. Helleiner, Intra-Firm Trade and the Developing Countries (London, 1981).
25.
26 The difficulties that Guyana faced after nationalizing the bauxite mines are discussed in N. Girvan, n. 23.
26.
27 ChudsonW.A.WellsL.T., Acquisition of Technology from Multinational Corporations by Developing Countries, UN Doc. ST/ESA/12, New York, 1974.
27.
28 Some of the problems of development of technology are discussed inHelleinerG.K., “International Technology Issues: Southern Needs and Northern Responses,” in BhagwatiJ. (Ed.) New International Economic Order: The North-South Dialogue (Cambridge, Mass., 1977).
28.
29 Brandt Commission, North-South: A Programme for Survival (London, 1980).
29.
30 See the papers presented at the conference on Rethinking Global Negotiations, sponsored by The Indian Council for International Economic Relations and the International Economic Research Centre, Columbia University, at New Delhi, 6–8 January 1983.
30.
31 The controversy is discussed in A.M. Okun, Prices and Quantities (Oxford, 1981); SteinJ. L. (Ed.), The Crisis in Keynesian Economics (Oxford, 1975).
31.
32 The Communique of the Wiliamsburg Conference of Heads of Western Nations held in 1983 suggests this.
32.
33 J.R. Behrman, n. 22.
33.
34 SavisA.H.TaylorL., “Cereal Stocks: Food aid and Food Security for the Poor,” in BhagwatiJ. (Ed), New International Economic Order: The North-South Dialogue.
34.
35 The fears of a widespread food shortage are analysed inHillmanSchmitz (Eds.), International Trade and Agricultural Problems and Policies, (Lincoln, 1978).
35.
36 The effect of agricultural output in the Indian economy is examined in John W. Mellor, The New Economics of Growth (Ithaca, New York, 1976).
36.
37 Some of the problems of the agricultural sector are discussed in Economic Survey 1982–83, Controller of Publications, Government of India, 1983.
37.
38 For an analysis of India's trade policy see, J. Bhagwati and T.N. Srinivasan, Foreign Trade Regimes and Economic Development: India (Delhi, 1976).
38.
39 The problems of restrictive trade practices are discussed in BhagwatiJ., “Market Disruption, Export Market Description, Compensation and GATT Reform,” in BhagwatiJ. (Ed.), n. 27.
39.
40 Effect of uncertainty on export performance is analysed in BhagwatiJ.SrinivasanT.N., “Optional Trade Policy and Compensation under Endogenous Uncertainty: The Phenomenon of Market Disruption,” Journal of International Economics, (Amsterdam), November 1976.
40.
41 BaransonJ., North-South Technology Transfer (Maryland, 1981).
41.
42 Success in the areas of space and nuclear research, however, suggest that when clear goals are established the Indian scientific establishment can deliver the goods.
42.
43 The different factors which influence the decision of TNCs as to where to locate research activity are discussed in Jack N. Behrman and William A. Fischer, Science and Technology for 1980's (Cambridge, Mass., 1982).
43.
44 For an analysis of such proposals see article byBhagwatiJ. (Ed.), n. 27.
