This paper examines the construction of the index and its use over the past seven years, identifies its limitations, examines several alternative measures of trade policy, and highlights some options for improving the Fund's use of trade policy indicators

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...