Arteta, Carlos Ó. (contributor); Hale, Galina (contributor) - 2006
trade openness —
the ratio of trade volume (sum of exports and imports) to GDP. Two principal components
are retained for … defaults (Martinez and
Sandleris, 2004), the decline in demand for the exports is less likely to occur. Rose (2005), on the …, because they represent exports for
some countries, but not for the others.
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We divide each amount by the U.S. consumer …