Desarrollo energético en América Latina y la economía mundial

Wílliam Loehr 1 POST 1973 ADJUSTMENT PROBLEMS ÓF OIL-IMPORTING••• and Murrar 1977} When one looks at export growth in countries of different development leveIs, it is cIear that the main deve!oping country beneficiaI'ies of the economic order of the 1960's and 70's have been countries of the intermediate income range. lt has also become cIear that export expansion is dependent upon continued economic prosperity in the MDCs. Thus, given an even greater need to expand exports in the late 1970's, the IDC's are finding it in their interests to support the oId internationaI economíc oruer and to reject steps whích couId further depress MDC economies. The so called "New Protectionism" in MDCs (Balassa, 1978; Hellei. ner, 1979) is particularly bothersome given a tendency to split deve– loping countries into various interest groups. lt tends to not only sIow export growth, but is likely to be most bothersome to LDe's. The latter in most cases have not yet entered MDC markets, and so when MDCs take steps to limit imports, they have no current market share to cut back on. IDCs freguently aIready have some share of lhe market and may be forced to cut back. In the event oI some market expansion the IDC's have the advantage of an already installed and sometimes excess capacity. Thus, even potential competitíon among devéloping countíes is lhnited and opportunities for LDCs to enter some markets beconies almost impossible. A strategy a.imed at alleviating the burdens oí deveIopment, should now more than ever, distinguish beween countries of different income levels. Some oI the world's poorest countries have been hurt badly by increased energy prices (Sankar, 1975) and have few avenues of adjustment open to them. Higher income countries have been injured too, but posess much greater flexibility and ability to pursue adequate adjustment policies. Private capital markets have proven surprisingly flexible in financing oi! deficits, but are not designed to accomodate countries at different income leveIs. Measures should be taken to help that market opedate more efficiently so that it best serves the coun· tries who are most abIe and may prefer private financing. (Fried mann, 1976). Mea.sures should be taken to keep developing country exports expanding. The means to do this i5 quite cleady through generalized tariff reductions and, perhaps most importantly, through reductions in non·tariff barriers in MDCS. Given the economic problerns oE the MDCs, systems of trade preferences or measures to increase (not just stabilize) raw materials will have little chance of success. In any event general trade liberalizatíon has been shown to be of greater benefit