Local content programs - especially in the auto industry - accompanied many import substitution policies during the 1960s and 1970s, but most were abandoned in countries that liberalized trade in the 1980s, and early 1990s. The high economic costs of these programs, and their inherent incompatibility with open, nondiscriminatory international trade, were recognized in the Uruguay Round Agreement on Trade-Related Investment Measures (the TRIMS agreement)...
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WPS2625
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1
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1
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2010/07/01
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Australia's experience with local content programs in the auto industry - lessons for India and other developing countries
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local content