Globalization and catching up -- The key institution -- New developmentalism -- The tendency of the exchange rate toward overvaluation -- The Dutch disease -- Foreign savings and slow growth -- Foreign savings and financial crises

This paper examines the effect of international trade on corporate market power in emerging market economies and developing countries, with a special focus on sub-Saharan Africa. The analysis is based on a large firm-level dataset, tariff data by sector and agreggate indicators of international...