While the financial crisis of 2008-2009 led to the great collapse of international trade, the European debt crisis in 2010-2013 did not have such a drastic impact on trade. The collapse has been studied a lot in recent empirical literature, but the European debt crisis has not been investigated...

Recent research has documented a U-shaped industrial concentration curve over an economy's development path. How far can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher-Ohlin model using industry data on 44 developed and developing...

This paper studies the patterns of trade and the incentives to innovate in an unequal global economy. We introduce non-homothetic preferences in a general-equilibrium model of endogenous growth and international trade between two countries, and argue that the effects of market integration on the...

This paper examines the effects of international trade in agricultural goods on structural transformation and economic growth. To do the analysis, I introduce international trade into a neoclassical growth model with two sectors, agriculture and non agriculture. A key feature of the model is the...

Purpose: The current paper assesses the effects of export product structure on the economic growth in transition economies.Design/methodology/approach: The preferred estimation methods are Pedroni/Kao panel cointegration, along with FMOLS and Granger causality tests. The employed dataset...

The paper develops a model of proportionate growth to describe the dynamics of the network of international trade flows. We show that a large number of the empirical regularities characterizing international trade - such as the fraction of zero trade flows across pairs of countries, the positive...

"Until 2014, demand for durable goods was at the heart of China's domestic market growth. This, combined with the expansion of global value chains(GVC), contributed significantly to the rise of Korea's key industries, particularly that of heavy and chemical products, including electrical and...

In the Belle Époque, Belgium recorded an unprecedented trade boom, but growth in output per capita was lackluster. We seek to reconcile this ostensible paradox. Because of the sharp decline in both fixed and variable trade costs, the trade boom was as much about the expansion in the number of...

In the Belle Époque, Belgium recorded an unprecedented trade boom, but growth in output per capita was lackluster. We seek to reconcile this ostensible paradox. Because of the sharp decline in both fixed and variable trade costs, the trade boom was as much about the expansion in the number of...