First published in 1998, this volume focuses on the relationship between trade policy and economic growth, one of the most controversial questions in the emerging paradigm on "international trade and economic development". Authored by a senior monetary expert and a senior lecturer in finance, the question is explored through institutional and policy issues with examples from a sample of ten African countries, with special reference to Malawi and Zambia. Asking which trade regime is appropriate for promoting economic growth in developing countries, the book concludes by discussing the appropriate strategy for African countries.

1. Introduction. 2. Import Substitution Versus Export Promotion. 3. Critique of Empirical Literature. 4. Empirical Evidence on Ten African Economies. 5. The Experience of Zambia. 6. The Experience of Malawi. 7. Summary and Concluding Remarks.