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This paper discusses the issue whether developing countries forego chances in world manufactured markets by protecting intermediate services against market entry of new suppliers. By scanning the empirical literature on effective rates of protection (ERP), the evidence is supportive. Yet, it...
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same country. Under the EMU, the elimination of nominal exchange rate volatility has largely reduced these border effects …, but distance and border still matter for intra-European relative price volatility. …
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volatility across emerging markets today is still significantly larger than a decade ago. …
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