controversy continues today, even as the world is experiencing an unprecedented period of trade liberalization, and in spite of … faster productivity growth. Although the use of instrumental variables goes a long way towards dealing with endogeneity …

controversy continues today, even as the world is experiencing an unprecedented period of trade liberalization, and in spite of … faster productivity growth. Although the use of instrumental variables goes a long way towards dealing with endogeneity …

productivity growth slowdown. Motivated by these facts, we provide a model connecting international financial integration and … global productivity growth. The key feature is that the tradable sector is the engine of growth of the economy. Capital flows … cut back investment in innovation. Since innovation in the United States determines the evolution of the world …

also because of potential second best world effects and the implied endogeneity of trade policy. Policy recommendations for …

the typical country in the world, new imported varieties account for 15 percent of its productivity growth. These effects … channels. First, trade raises productivity levels because producers gain access to new imported varieties. Second, increases in … that aggregates these micro gains to obtain an estimate of trade on productivity growth for each country. We find that in …

has led many economists to believe that productivity growth in these economies, particularly in their manufacturing … productivity) gains from an outward orientation. This view fails to take into account the equally unusual rapid growth of both … envelope calculations to show that, as regards productivity growth in the aggregate economy and in manufacturing in particular …

the typical country in the world, new imported varieties account for 15 percent of its productivity growth. These effects … channels. First, trade raises productivity levels because producers gain access to new imported varieties. Second, increases in … that aggregates these micro gains to obtain an estimate of trade on productivity growth for each country. We find that in …

has led many economists to believe that productivity growth in these economies, particularly in their manufacturing … productivity) gains from an outward orientation. This view fails to take into account the equally unusual rapid growth of both … envelope calculations to show that, as regards productivity growth in the aggregate economy and in manufacturing in particular …