The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past … exchange hedging instruments, may have reduced the impact of volatility on trade flows. Using recent advances in the economic … theories on trade and in statistical methodologies, this paper revisits this important issue by taking into account these new …

This paper reviews the economics of trade policy in financial services, highlighting differences between trade across … borders and through commercial presence. Trade liberalization could complement other financial reforms by enhancing the …. However, it raises sectoral, strategic, and cultural concerns. The design of trade policy should therefore emphasize the nexus …