The authors use a computable general equilibrium model of the Russian economy to assess the impact of accession to the World Trade Organization (WTO), which encompasses improved market access, tariff reduction, and reduction of barriers against multinational service providers. They assume that...

The North American Free Trade Agreement (NAFTA) has had a profound impact on Mexico's economy and institutions. Clearly, no consideration of tax reform can ignore its role. The thinking about tax reform in Mexico requires evaluating NAFTA's effect on Mexico's economy, including its tax...

Does financial development translate into a comparative advantage in industries that use more external finance? The author uses industry-level data on firms'dependence on external finance for 36 industries and 56 countries to examine this question. The author shows that countries with...

The authors develop a numerical endogenous growth model approximating an infinite horizon, which allows them to investigate the relationship between trade liberalization and economic growth. Economic theory generally implies that trade liberalization will improve economic growth, and the two...

This study reviews trends in the process of India's integration into the world economy in the context of the experience of developing countries as a whole, and evaluates the main factors which may hamper the pace at which integration occurs in the future. Based on a consideration of prospects...

The authors analyze the unparalleled increase in foreign direct investment to emerging market economies in the past 25 years. Using a large cross-country time-series data set, the authors evaluate the dependence of foreign direct investment on global factors or worldwide sources of risk (that...

Conventional analyses of the effect of terms-of-trade shocks provide a misleading view of their impact on investment and the current account, because capital goods imports are excluded from the analytical framework. The author argues that such an exclusion is both arbitrary and unrealistic. The...

This paper presents policy- and outcome-based ways of measuring the progress of market-oriented reforms in both traditional areas of first-generation reform and the areas of institutional reform that have been emphasized lately. These policy areas are the domestic financial system; international...

The Revised Minimum Standard Model (RMSM) was originally created in 1973 as a means of ensuring a consistent approach to World Bank projections and thus facilitate intercountry comparisons. These objectives are met through the provision of a standard list of variables and a minimum set of...

Over the period 1984 to 1987, a major liberalization of restrictive trade policies was implemented in the Moroccan manufacturing sector. The level of imports changed across different industries according to each industry's degree of liberalization. The paper focuses on exploring the distribution...