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 …

In this paper we estimate gravity models to see whether trade volumes of countries in the MENA region are significantly … show that the variables used in standard gravity models cannot explain a significant part of MENA's trade performance … inefficiencies in customs clearance processes, are important in explaining the MENA region's underperformance in trade. …

-industry trade (IIT). It is assumed that more IIT implies a smaller elasticity of substitution among differentiated products and vice … effectiveness of exchange rates in addressing trade imbalances will diminish as the extent of IIT increases. …

This paper analyzes developments in the structure of trade in the Commonwealth of Independent States (CIS) during the … transition decade, and finds that it changed less than in other transition economies. Trade openness of the CIS increased between … include slower progress in transition, geographic aspects, restrictions on trade, governance and corruption problems, weak …

.S.-Canada Free Trade Agreement, suggests. We find that exchange rate flexibility has not prevented economic integration between …

This paper examines the mechanisms through which output volatility is related to trade openness using an industry …-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to … international trade are more volatile. Second, trade is accompanied by increased specialization. Third, sectors that are more open …

This paper analyzes the impact of political instability in Côte d’Ivoire on WAEMU trade over 1990-2007, applying panel … econometric techniques to a gravity model of trade within WAEMU and between WAEMU and the rest of the world. The paper finds that … intra-regional trade represents a small share of total WAEMU trade and that Côte d’Ivoire accounts for around half of that …

We analyze trade dynamics following past episodes of financial crises. Using an augmented gravity model and 179 crisis …

The pace of trade reforms waned from the mid-2000s as protectionist sentiment began to increase. With the onset of the … global financial crisis, reform progress not only halted but began to reverse. As we show in this note, new trade … restrictions have had—in the limited products they targeted—a strong negative impact on trade. The aggregate impact of new …