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We provide empirical evidence that risk sharing enhances specialization in production. First, we calculate an index of … specialization index on the degree of risk sharing, controlling for relevant economic variables and find a positive relation between …
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One of the unforeseen consequences of the WTO agreements has been controversy over risk. This volume explores aspects of risk with special reference to the WTO, where national instruments to reduce risk may conflict with international trade rules. The book is divided into sections dealing with:...
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