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policy regime, as represented by the WTO (World Trade Organization). Environmentalists fear that international trade will … a symbol of globalization, and their fears attach also to that larger phenomenon. The first part of this paper discusses …
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Openness to trade is one factor that has been identified as determining whether a country is prone to sudden stops in capital inflows, crashes in currencies, or severe recessions. Some believe that openness raises vulnerability to foreign shocks, while others believe that it makes adjustment to...
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