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WHAT'S IT WORTH? THE ECONOMIC VALIE OF COLLEGE MAJORS

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Experience seems to demonstrate that trade liberalisation and an increase in foreign trade do enable a better allocation of resources and more economic growth. Nevertheless, for that growth also to lead to more development, understood as poverty reduction in its different aspects, according to Steinberg there have to be additional conditions. Many of them are concerned with the existence of a national development strategy that facilitates a pro-poor distribution of growth. In this case, it would involve the transfer of income to the losing sectors in trade liberalisation, although other circumstances are connected with foreign trade integration

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