"This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of...

This report reviews the status of Mashreq countries' economic integration with the world, with the Arab world, and within the Mashreq sub-region itself. It examines the drivers of progress to date and barriers to further integration. It focuses on Mashreq countries' participation in integration...

Bulgaria's financial integration with Europe has been essential in financing economic transition and spurring economic growth. As the sovereign debt turmoil in Europe casts a cloud over the financial sector, the development of capital markets over the medium term may offer a beneficial...

"This is an empirical paper seeking to identify the mode of Turkey's integration into global markets in general, and pan-European markets in particular, as revealed in its trade performance. The analysis provides empirical support to the following observations. First, thanks to steady expansion...

"Regional agreements on standards have been largely ignored by economists and unconditionally blessed by multilateral trade rules. Chen and Mattoo find, theoretically and empirically, that such agreements increase trade between participating countries but not necessarily with the rest of the...

"Greater trade integration has often been viewed as requiring greater standardization in institutions, without which the benefits of trade do not materialize. There are many current debates concerning the degree and area of standardization needed and these debates are likely to continue for the...

"Based on static analysis, a number of studies argue that forming a regional trade agreement is more likely to raise welfare if member countries are "natural trading partners," while other studies claim that the opposite is true. Schiff and Wang look at the argument from a dynamic viewpoint by...

The proliferation of regional trade agreements is fundamentally altering the world trade landscape. The number of agreements in force surpasses 200 and has risen eight-fold in two decades. Today as much as 40 percent of global trade takes place among countries that have some form of reciprocal...