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Quality of public institutions has been recognized as a crucial determinant of macroeconomic outcomes. We propose that a country's intrinsic level of openness (due to population size, geography, or exogenous trade opportunities) affects its incentives in investing in better institutions. We...
Persistent link: https://www.econbiz.de/10012453661
Contrary to the recent literature that concludes that the GATT/WTO has been completely ineffective in promoting world … imports estimated at about 44 percent of world trade. The same has not been true for developing country members, although …
Persistent link: https://www.econbiz.de/10012468674
Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to … reduction of trade barriers against non-member countries. That may not be politically feasible. On the other hand, in a world of …
Persistent link: https://www.econbiz.de/10012473603