sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth …-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased … frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking …

one or more aspects of international trade and factor movements, including trade in goods, trade in value added …, international movement of labor and capital, and trade in risk. All chapters aim to contribute to our understanding of the economic … of the pattern of trade, factor flows, and production, as well as the role of barriers to the international exchange of …

markets, taxes, infrastructure, skills, innovation, trade policy, rule of law and financial markets. Beyond changing the rules … to exploit synergies across different areas, to manage trade-offs and to protect the vulnerable from the costs of …

We build upon new developments in the international trade literature to isolate and quantify the long-run economic … impacts of tariff changes on the United States and the global economy. In particular, we apply the most recent data and trade … and proposed tariff changes, including the U.S. tariffs on steel and aluminum imports and the rounds of additional tariffs …

Africa is one of the most economic-integrated continents by a number of regional trade agreements in the continent …. There are about 30 bilateral and multilateral trade agreements within the continents so that each African country is a … member of at least one regional trade agreement. Trade between African countries, however, barely exceeds 10% of the total …

This paper analyses the short- and long-run effects of trade openness on financial development in a panel including … financial development level of the countries considered. In particular, it appears that in the middle-income countries trade … openness tends to strengthen financial development in the long run but to have an adverse effect in the short run. By contrast …