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    Are Special Economic Zones a Panacea for Developing Countries? Lessons for Developing Countries

    Jeong, Hyung-Gon | July 2016
    Abstract
    A special economic zone (SEZ) is an area of a country regulated specifically to attract foreign investment and spur economic development. It is separate from the rest of the country in the sense that the business activities it hosts are free from requirements such as commodity taxes, foreign currency exchanges and customs limitations. In addition, SEZs offer business incentives such as rent discounts and preferential tax structures. Both developing and advanced countries have established and utilized such zones to attract outsourced activities in industries such as manufacturing, distribution, logistics and trade. Over three thousand special economic zones now exist worldwide, and more countries have begun implementing or shown interest in using SEZs for their industrial development. The results so far have been quite mixed; SEZs have succeeded in countries such as China, Singapore and South Korea, while others are still struggling. Many scholars maintain the view that SEZs are not a panacea, and must be implemented properly and carefully aligned with a country’s specific circumstances.
    Citation
    Jeong, Hyung-Gon. 2016. Are Special Economic Zones a Panacea for Developing Countries? Lessons for Developing Countries. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/10546.
    Keywords
    Free Trade
    Trade Facilitation
    Trade
    Economic integration
    Regional Economic Integration
    Intraregional Trade
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade Regulations
    Exchange Rate
    Economic zones
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West
    Exchange rates
    Economic Zones
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/10546
    Metadata
    Show full item record
    Thumbnail
    KIEPopinions_no88.pdf (228.0Kb)
    Author
    Jeong, Hyung-Gon
    Theme
    Trade
    Economics

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise