markets value institutions over and above the economic and fiscal outcomes these institutions shape. Democracy and …

This paper furnishes robust evidence that the GATT/WTO has had a powerful and positive impact on trade. The impact has …, however, been uneven. GATT/WTO membership for industrial countries has been associated with a large increase in imports … estimated at about 40 percent of world trade. The same has not been true for developing country members, although those that …

We revisit the question of the quantitative benefits of WTO trade agreements in a setup that is non-standard from the … traditional trade policy point of view. We show that in a New Keynesian model, unilateral trade liberalization reduces welfare due … to terms-of-trade deterioration, creating an incentive for a trade agreement. For realistic parameter values, the value …

International trade is vital for economic prosperity in Pacific island countries, but their trade performance has been … center presents Pacific island countries with an unprecedented opportunity to develop trade with Asia, particularly in …

With China's share in global trade increasing rapidly, some argued in 2002-03 that China was exporting deflation to …

This survey of the recent literature asks: how important is trade policy for poverty reduction? We consider the effects …-level research, and case studies) supports the view that trade openness contributes greatly to growth. Moreover, trade openness does … not have systematic effects on the poor beyond its effect on overall growth. Trade policy is only one of many determinants …

This paper examines different explanations-initial conditions, openness to trade and FDI, and institutions-of the … Mauritian growth experience since the mid-1970s. We show that arguments based on openness to trade and FDI are either misleading …

China's sectoral trade composition, product quality mix, and import content of processing exports have all changed … substantially during the past decade. This has rendered trade elasticities estimated using aggregate data highly unstable, with more …

This paper examines the empirical relationship between trade and total factor productivity (TFP) in South Africa. It … uses (i) a time series approach where trade is defined in terms of aggregate outcomes, i.e., as the share of imports plus … exports in GDP, and (ii) a cross sectional approach, where trade is defined in terms of trade policy, i.e., as actual trade …

these spillovers into trade, commodity price, and financial market channels. For Canada, a one percent shock to U.S. real … important than trade in recent decades. Thus, a large proportion of the reduction in Canadian output volatility since the 1980s ….S. shock-"when the U.S. sneezes, Mexico catches a cold". These spillovers are transmitted through both trade and financial …