According to the Washington Consensus, developing countries' growth would benefit from reductions in barriers to trade. However, the empirical basis for judging trade reforms is weak. Econometrics are mostly ad hoc, results are typically not judged against models, policies are poorly measured,...

This book analyzes the role of trade as a central pillar of the structural reform process and a bridge to capturing the dynamic development forces of an increasingly globalized world economy.

According to the Washington Consensus, developing countries' growth would benefit from a reduction in tariffs and other barriers to trade. But a backlash against this view now suggests that trade policies have little or no impact on growth.

According to the Washington Consensus, developing countries' growth would benefit from a reduction in tariffs and other barriers to trade. But a backlash against this view now suggests that trade policies have little or no impact on growth.

This book analyzes the role of trade as a central pillar of the structural reform process and a bridge to capturing the dynamic development forces of an increasingly globalized world economy.

According to the Washington Consensus, developing countries' growth would benefit from reductions in barriers to trade. However, the empirical basis for judging trade reforms is weak. Econometrics are mostly ad hoc; results are typically not judged against models; policies are poorly measured; and...

In contemporary data, the measured factor content of trade is far smaller than its predicted magnitude in the pure Heckscher-Ohlin-Vanek framework, the so-called 'missing trade' mystery. We wonder if this problem has been there from the beginning: that is, we ask if the Heckscher-Ohlin theory...

Measured by the ratio of trade to output, the period 1870-1913 marked the birth of the first era of trade globalization and the period 1914-1939 its death. What caused the boom and bust? We use an augmented gravity model to examine the gold standard, tariffs, and transport costs as determinants...

An empirical tradition in international trade seeks to establish whether the predictions of factor abundance theory match present-day data. In the analysis of goods trade and factor endowments, mildly encouraging results were found by Leamer et al. But ever since the appearance of Leontief's...