The president of Suldinia,a developing country,proposes that his country needs to help domestic firms by reducing trade restrictions.

Question

Quizplus · Accepted Answer

Outward-oriented policies, such as reducing trade restrictions, are generally believed to have beneficial effects on growth as they promote competition, increase efficiency, and allow firms to access larger markets. This would be especially beneficial for a developing country like Suldinia that may not have access to advanced technology or large markets.

The President of Suldinia,a Developing Country,proposes That His Country Needs