We find that Chinese trade flows respond to economic activity and relative prices - as represented by a trade weighted … sensitive to the treatment of time trends. Estimates of aggregate imports are more problematic. In many cases, Chinese aggregate … imports actually rise in response to a RMB depreciation and decline with Chinese GDP. This is true even after accounting for …

This paper examines the stability of import and export demand functions for the United States over the 1975q1-2001q2 … period. Using the Johansen maximum likelihood approach, an export demand function is readily identified. In contrast, there … typically found in other studies of aggregate U.S. trade flows …

investment or trade channel depending on the openness of the economies. While a higher degree of exchange rate stability could … three policy goals in the trilemma--monetary independence, exchange rate stability, and financial openness--we examine how … choices matter for output volatility and the medium-term level of inflation. Greater monetary independence is associated with …

, measures of financial deepening are positively associated with current account balances while indicators of openness to … international trade are negatively correlated with current account balances …

, telephone density, legal quality and banking sector development are associated with technology penetration rates. Overall, the … reversion for computer use, particularly in developed economies. Financial development, either measured as bank lending or the …

economic environmental factors that we consider are the degree of financial openness and the extent of legal development. We … institutional development, with a goal of informing the recent debate over the existence and relevance of the "savings glut." The … reverse correlation; greater financial development leads to higher savings. Furthermore, there is no evidence of "excess …

, monetary, trade and financial linkages with the CEs, the levels of institutional development, and international reserves …

and financial linkages with the center economies, and the level of institutional development. In the last two decades, for …, the arrangement of open macro policies such as the exchange rate regime and financial openness are also found to have … financial openness faces a stronger link with the center economies through policy interest rates and real effective exchange …