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This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is...
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UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and …The present paper investigates whether tourism specialization is a viable strategy for development. We estimate … standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques …
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