Trade Liberialisation

Ayman Shaukat
Mind Map by Ayman Shaukat, updated more than 1 year ago
Ayman Shaukat
Created by Ayman Shaukat about 4 years ago
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How it affects development and growth
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Trade Liberialisation
1 Reduced trade barriers
1.1 Increase levels of trade and competitiveness
1.1.1 Forces domestic efficiency of firms to increase as lower import prices (reduced protection) has meant it must increase so that firms maintain profits. Increases international competitiveness and net exports. Also increases productive capacity of the economy by effieintly using capital.
1.1.1.1 Allows for increases in exports, human and physical capital through competition
1.1.1.1.1 Allows for increases in AD, AS and GNI/capita
1.1.1.1.1.1 Allows for increases in growth, development and standards of living as a result (more variety of goods and services available at lower prices).
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