Purpose – Unlike the common belief in the so-called ‘trickle-down effect,' trade-induced output growth in a small open … trickle-down effect does not work properly such that the connection between trade-induced output growth and welfare …

of trade. Regression results suggest that import protection makes income distribution worse for countries in labor …

emergence of China as an exporting powerhouse. While research in economics had long acknowledged that trade with lower …-income countries could raise income inequality in Europe and the US, empirical estimates indicated only a modest contribution of trade … the unequal impacts of trade can manifest along different margins. Recent evidence from countries across Europe and the US …

external trade and finance - including foreign direct investment, remittances, and aid - play a critical role. It is therefore …