With its America First strategy, the former US administration turned away from an internationally oriented trade policy … conducted: Almost all US industries were negatively affected by the US trade policy. This effect can be seen in the forward … companies. As few firms profit in this situation, the rationale for a restrictive trade policy cannot be based in economic gains …

In this paper, we investigate the impact of trade and financial liberalization on the degree of stock market co … reforms which aim at opening these countries to trade and financial channels to the rest of the world. The estimation of time … the quality of the statistical inference. Our results offer strong support in favor of a positive impact of trade and …