The world economy has undergone tremendous change during the past decade, with a range of emerging issues influencing global trade and coming to the fore in discussions among policy-makers and trade negotiators. Whether these issues will or should be addressed within the multilateral context as...

Recent evidence on the respective contributions of institutions and trade to income levels across countries has demonstrated that - once endogeneity is considered - institutional quality clearly dominates the effect of trade. We argue that overall trade is not the most appropriate measure for...