Developing-countries’ trade policies in the 1990s owe much to the events of the 1980s. Many events had helped to shape trade policies of developing countries in the 1980s. Of these, the economic crises of that decade, which led some to condemn it as the ‘lost decade’, spawned unprecedented policy reforms.2 The reforms that began in the 1980s continued in the 1990s. Despite the East Asian crisis that began at the end of 1997, the 1990s were less turbulent than the 1980s. However, the participation of developing countries as full members in the Uruguay Round (UR) negotiations was a decisive factor in their 1990s liberalizations.
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