€™ trade policies and their development strategies. However, although greater trade openness promises faster growth for poor …Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countriesâ …

This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are … during 1965-89. Favorable terms-of-trade shocks increase investment and (especially government) consumption, but reduce …, but Dutch Disease effects are strikingly absent. Investment, consumption, and nontradable output respond more to a terms-of-trade …

developed and the developing countries. Our analysis will evaluate how the presence of terms of trade adjustment and distorted … endogenous terms of trade adjustment, there are cases in which a competitive international banking system may not revitalize … appropriate conditionality, and the presence of endogenous terms of trade adjustment puts greater weight on investment …

a country's production and export structure. This can include diversification into new products and trading partners as …Diversification and structural transformation play important roles in influencing the macroeconomic performance of low …-income countries (LICs). Increases in income per capita at early stages of development are typically accompanied by a transformation in …

the benefits of trade liberalization as well as on the obstacles to trade-oriented development …