This paper examines the mechanisms through which output volatility is related to trade openness using an industry … appreciable impact on aggregate volatility. Added together they imply that the relationship between trade openness and overall …-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to …

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. …

and began to integrate rapidly with the world economy. With the country’s recent accession to the World Trade Organization …

This paper analyzes the effects of trade openness on budget balances by distinguishing the effects of natural openness … from those of trade-policy induced openness. Using the GMMsystem estimator, the econometric analysis focuses on 66 … developing countries during 1974-98. The results show that trade openness increases a country's exposure to external shocks …

volatility. Compared to the benchmark specification with stochastic aid flows, indexation of aid flows to terms of trade sh … with shortfalls in GDP and government revenues. This increases the consumption volatility in aid dependent countries … terms of trade can significantly improve the welfare of aid-dependent country by lowering its output and consumption …

account more vulnerable, penalizing exports and making imports dearer. After reviewing the "old" and "new" view on current … deficits; (ii) they run budget surpluses; (iii) the terms of trade improve; (iv) they are less open; and (v) GDP growth … declines. Monetary policy, financial development, per capita GDP, and the de jure exchange rate classification matter less …

This paper reviews major issues involved in achieving the objectives of the New Partnership for Africa's Development … areas of poverty reduction, macroeconomic policies, trade promotion, attracting capital flows, and governance and …