This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new … value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong … positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country …

€™s exports. Although rising trading links with China have allowed African countries to diversify their export base across … countries, away from advanced economies, they have also led SSA countries to become more susceptible to spillovers from China …

the RoW, but has also gradually drifted away from the G7 in favour of the BRICs. Trade with the BRICs turns out to be the … strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy …

the sample period. The Granger causality test suggests that private sector credit and world wheat prices are the leading …

private sector), the exchange rate, as well as the wheat support price as a supply-side factor that has received considerable …. Changes in the wheat support price influence inflation in the short run, but not in the long run. Furthermore, the wheat …

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 …

Preference erosion has become an obstacle to multilateral trade liberalization, as beneficiaries of trade preferences …

This paper examines the relationship between fixed exchange rate arrangements and trade using a gravity model of … international trade together with bilateral trade data from 24 countries from the Caribbean and Latin America for the period 1960 …-2001. The analysis indicates that a credible fixed peg has a positive impact on the value of bilateral trade. Moreover, the …