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:...

This paper studies the role of financial frictions in explaining the heterogeneous effect of exchange rate uncertainty on international trade. Empirically, exports in industries in which firms have less tangible capital or rely more heavily on external finance decrease more in times of high...