In the last ten years, there has been a sea change in trade and related policies in emerging markets. This results from autonomous reforms undertaken in conjunction with macroeconomic stabilization programmes. Many non-tariff measures have been eliminated and tariffs, now the principal trade...

This paper examines the interplay between exchange rate regimes and policies and commercial policy in six transition economies. In all these economies the rate of protection afforded domestic industry by the exchange rate has been eroded by high rates of inflation and insufficient growth in...

This book brings together contributions from the 14 WTO chair-holders of the first phase of the WTO Chairs Programme (2010-2014). The volume is divided into four sections, focusing on export diversification, the role of non-tariff measures, the rule of law in connecting to global markets, and...

The textiles and clothing sector has been a key driver of export growth in least-developed countries (LDCs) that are on the path of graduation, especially from Asia. Graduation from LDC status would imply loss of LDC trade preferences. This report, a product of inter-agency collaboration,...

The paper studies empirically fiscal policies around elections in 25 developing countries as affected by the exchange regime. It is argued that countries with flexible exchange regimes are less likely to engage in expansionary fiscal policies before elections because such policies can result in...

The paper studies empirically the fiscal policy instruments by which governments try to influence election outcomes in 24 developing countries for the 1973-1992 period. The study finds that the main vehicle for expansionary fiscal policies around elections is increasing public expenditure rather...

Management of capital inflows has unexpectedly become a major challenge in transition economies. These countries were expected to have an insatiable demand for foreign capital, and an excess demand for capital inflows was, therefore, predicted by most observers. Foreign investors are also known...