The 1993 SNA represents a major advance in national accounting. While updating and clarifying the 1968 SNA, the 1993 SNA provides the basis for improving compilation of national accounts statistics, promoting integration of economic and related statistics, and enhancing analysis of economic...

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity...

The role of trade in the global economy is at a critical juncture. Increased trade integration helped to drive economic growth in advanced and developing economies in the latter part of the 20th century. Since the early 2000's, however, a slowdown in the pace of trade reform, a post-crisis...

This paper outlines the IMF's perspective on the economic impact of corrup-tion and experience in helping countries design and implement strategies to address it. Corruption has a broader corrosive impact on society. It undermines trust in government and erodes the ethical standards of private...

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We use the standard system GMM approach as well as...