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This paper provides new evidence of the effects of road construction on both domestic and international trade flows in … those supported by multilateral development banks. We find that road construction helped to reduce trade costs significantly … internal trade costs decreases by 20%, and the ad valorem rate of international trade costs decreases, on average, by 15 …
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the lens of a general-equilibrium, two-country, overlapping generations model with international capital markets and trade …
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