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Small, open developing economies in general, and small island developing states (SIDS) in particular, have specific macroeconomic characteristics due both to their openness and their small size. Small size means they can never have fully independent capital-intensive domestic economies, so to...
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income in the emerging market and in the industrialized country. Whereas trade globalization always has a positive effect on … the emerging market, financial globalization may not, especially when trade costs are high. For intermediate levels of …
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