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This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well. However, following a short-lived initial rebound in activity in 2010, the global economy and, especially, emerging market and...
Persistent link: https://www.econbiz.de/10012646707
Persistent link: https://www.econbiz.de/10012246104
How high were import tariffs when GATT participants began negotiations to reduce them in 1947? Establishing this starting point is key to determining how successful the GATT has been in bringing down trade barriers. If the average tariff level was about 40 percent, as commonly reported, the...
Persistent link: https://www.econbiz.de/10012246242
represented 83 percent of the world's population and 91 percent of the world's GDP in 2013. It addresses the following five … setting trade policy? Finally, how liberalized is world trade? The analysis documents the extent of cross … concludes that substantial trade policy barriers remain as an important feature of the world economy …
Persistent link: https://www.econbiz.de/10012246271
Suppose that when addressing the question of "what's left for the WTO?," tariff negotiators relied not on the agenda established in 2001 but instead on the terms-of-trade theory of trade agreements to identify negotiating priorities. This paper uses the lens of the terms-of-trade theory to...
Persistent link: https://www.econbiz.de/10012246611
Global outlook : a fragile recovery -- Special focus 1 : Debt dynamics in emerging market and developing economies : time to act? -- Special focus 2 : Arm's-length trade : a source of post-crisis trade weakness -- Regional outlooks.
Persistent link: https://www.econbiz.de/10012248634
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10012245802
Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of debt accumulation episodes in 100 emerging market and...
Persistent link: https://www.econbiz.de/10012228314
Although emerging market and developing economies (EMDEs) weathered the global recession a decade ago relatively well, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the room for monetary and fiscal policies to respond to...
Persistent link: https://www.econbiz.de/10012229095