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Events • May 30, 2019 

# Free Trade and Prosperity: How Openness Helps Developing Countries Grow Richer and Combat Poverty 

Free trade provides enormous benefits to developing countries. Arvind Panagariya will describe its impressive record in promoting growth and reducing poverty at a time when some policymakers in rich and poor countries are turning toward protectionism. He will explain how openness was key to the economic success of countries like South Korea and Taiwan and will refute claims that industrial policy, infant industry protection, or measures that erected barriers to trade have worked better than free trade itself. Anne Krueger will comment on Panagariya’s full-scale defense of free trade and warn about threats to the liberal, global trade regime.

[![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) 
This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/). 

##### Featuring 

##### Anne Krueger 

##### Arvind Panagariya 

Professor of Economics and Indian Political Economy, Columbia University

[![Ian Vásquez](/sites/cato.org/files/styles/author_picture/public/2021-01/Ian%20Vasquez.jpg?itok=yBS_mzpm)](/people/ian-vasquez) 

##### [Ian Vásquez](/people/ian-vasquez)

Vice President for International Studies, Cato Institute

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](mailto:ivasquez@cato.org)