severely regulated. We identify the latter two groups as falling in "liberalization traps". Institutional quality interacts …

of worker. Our analysis reveals that the effects of a liberalization on human capital accumulation, income and inequality … are gradual and cumulative. In case of a complete liberalization, the world average level of GDP per worker increases by … and the liberalization path has stochastic dominance over the Baseline-As-Usual. These results are very robust to our …

This paper explores the dynamic effects of trade liberalization on tax revenue using a worldwide panel dataset. Results … point to statistically significant negative effect of liberalization on (non- resource) tax revenues in the short term and … no significant effect in the medium term. Liberalization also alter the tax structure tilting revenues toward indirect …