This paper investigates the relationship between trade policy orientation and industrialization. Growth rates of manufacturing value added, rather than output growth rates, are related to index of real exchange rate distortion to establish the superiority of outward-oriented strategies in...

An increasingly important component of total world trade is intra-industry trade (IIT). The large volume of literature on IIT is reflective of this importance. However, this extensive literature has focused almost completely on explaining the causes of IIT. This focus has left a puzzling gap in...

The concept that the world economy is becoming more integrated is now common place. Terms such as “globalization” or “internationalization” have been integrated into our everyday vocabulary. Over the last several decades, globalization has become a twoway street as goods flow more freely...