This survey of the recent literature asks: how important is trade policy for poverty reduction? We consider the effects …-level research, and case studies) supports the view that trade openness contributes greatly to growth. Moreover, trade openness does … not have systematic effects on the poor beyond its effect on overall growth. Trade policy is only one of many determinants …

This paper examines different explanations-initial conditions, openness to trade and FDI, and institutions-of the … Mauritian growth experience since the mid-1970s. We show that arguments based on openness to trade and FDI are either misleading …

(notably, sudden stops in financial flows) for emerging markets, and with real external shocks (in particular, terms-of-trade …

if China's relative presence continues to rise in the regional trade. …

This paper examines the persistence of shocks to the terms of trade, using annual data on 42 Sub-Saharan African … countries between 1960-96. We find that the persistence of terms of trade shocks varies widely—for about half the countries such …-lived terms of trade shocks are typically those that have large shares of petroleum imports in total imports, small shares of …

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 …