One side-effect of the Global Financial Crisis of 2008-09 was the resurgence of a debate over exchange rates. The conventional wisdom dictates that real-exchange rate adjustments are needed in order to bring about changes in trade balances across countries. However, the literature on the effect...

The Political Economy of Protection explains why countries, especially developing countries, change their trade policies over the course of history. It does so through an interdisciplinary approach, which borrows analyses from both political science and economics. While the central focus of this...

The literature on the relationship between economic diversification and development has grown rapidly in recent years, partly due to the surprising finding that diversification rises with gross domestic product per capita up to a certain point. Export diversification along the extensive margin...