In This Review

Managing International Markets: Developing Countries And The Commodity Trade Regime
Managing International Markets: Developing Countries And The Commodity Trade Regime
By Jock A. Finlayson and Mark W. Zacher
Columbia University Press, 1988, 348 pp.

International commodity agreements: Do they ever work? What effect do they really have on prices, production and trade? Who actually pays their costs? The issues have been discussed throughout the century; nevertheless, there is a place for another comprehensive book to take account of the extensive discussions of the experience since World War II, and this careful study by two Canadians fills the need admirably. It shows quite convincingly why, in spite of all the efforts and a great surge of interest in the subject in developing countries, the old arguments remain valid, few agreements have been adopted or have lasted, and not much change can be expected in the future. The condensed accounts of negotiations regarding major products make the book a useful reference as well.