This paper traces the rise of export-led growth as a development paradigm and argues that it is exhausted owing to changed conditions in emerging market (EM) and developed economies. The global economy needs a recalibration that facilitates a new paradigm of domestic demand-led growth....

More than 170 years ago, Frédéric Bastiat noted in his masterly work Economic Sophisms that the “opposition to free trade rests upon errors, or, if you prefer, upon half-truths.”1 Ever since Adam Smith successfully replaced mercantilist orthodoxy with free trade doctrine in his celebrated...

On September 1, 2010, the Central Bank of Ethiopia announced a devaluation of the birr by 20%. With this devaluation measure, the value of the birr has declined by at least 45% since 2008. It is to be recalled that the birr was devalued by at least 10% in October 2008, by 9.9% in July 2009, and...

The purpose of this paper is to update the information on net food importing countries, using different definitions of food, separating countries by their level of income, whether they are in conflict and whether they are significant oil exporters. The study also estimates the changes in net...

Is the variation in bilateral trade flows across countries primarily due to differences in the number of exporting firms (the extensive margin) or in the average size of an exporter (the intensive margin)? And how does this affect the estimation and quantitative implications of the Melitz (2003)...

The Melitz model highlights the importance of the extensive margin (the number of firms exporting) for trade flows. Using the World Bank's Exporter Dynamics Database (EDD) featuring firm-level exports from 50 countries, we find that around 50 percent of variation in exports is along the...

Is the variation in bilateral trade flows across countries primarily due to differences in the number of exporting firms (the extensive margin) or in the average size of an exporter (the intensive margin)? And how does this affect the estimation and quantitative implications of the Melitz (2003)...

Trade facilitation measures improve the trading environment by reducing transaction costs and thereby increasing the gains from trade. Although the use of trade facilitation measures for tackling trade bottlenecks has gained traction in recent times, one aspect which remains largely unexplored...

Developing country delegates in multilateral trade negotiations have become quite active in forming bargaining coalitions. But there has been little research concerning how this has been done, what the results have been, or what influences these results.1 In tackling these questions, this paper...