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This Working Paper relates to the 2014 OECD Economic Survey of India (http://www.oecd.org/eco/surveys/economic-survey-india.htm). But as Smith noted above, poor countries lose out when they export commodities (which are cheaper than finished products) are denied or effectively blocked from industrial capital and real technology transfer, and import finished products (which are more expensive due to the added labor to make the product from those commodities and other resources) This leads to less circulation of money in their own economy and a smaller multiplier effect.

Pages: 130

Publisher: Palgrave Pivot; 1st ed. 2015 edition (January 19, 2016)

ISBN: 1349506206

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