Virtually all of the studies that quantify the adjustment costs of trade liberalization relative to the benefits point to the conclusion that adjustment costs are small in relation to the benefits of trade liberalization. The explanation for low adjustment costs is that: These costs are...

The authors aim at contributing to understand the dispersion of returns from policy reforms using cross-country regressions. The authors compare the"before reform"with"after reform"GDP growth outcome of countries that undertook import-liberalization and fiscal policy reforms. They survey a large...

In a series of recent papers, Neary and others have established the importance of trade in factor services, especially capital, in determining the welfare effects of import restrictions by tariffs, QRs, and VERs. In the absence of induced terms-of-trade changes and rental rate effects, Neary...

Ianchovichina and Martin present estimates of the impact of accession by China and Chinese Taipei to the World Trade Organization. China is estimated to be the biggest beneficiary, followed by Chinese Taipei and their major trading partners. Accession will boost the labor-intensive manufacturing...

Most Central American economies experienced slower growth in the 1980s than in the 1960s and 1970s, trailing far behind the Asian Tigers. Contributing to slow growth were severe external shocks, sizable macroeconomic disturbances, and widespread political instability. The challenges Central...

The author explores a possible link between financial development and trade in manufactures. His theoretical model focuses on the role of financial intermediaries in facilitating large-scale, high-return projects. Results show that economies with better developed financial sectors have a...

Antidumping is by far the most prevalent instrument applied by countries to impose new import restrictions. In the 1980s antidumping was used mainly by a handful of industrial countries. More recently developing countries have used it increasingly often. Since the World Trade Organization (WTO)...

Countries in transition have considered membership in the World Trade Organization (WTO) an important step toward integration in the international economic system. After several years of negotiations, five members of the former Soviet Union (FSU) - Armenia, the three Baltic countries, and the...

Using a political economy approach, the authors analyze the pattern of protection in Mexico's manufacturing sector during the period of trade policy reforms (1985-89), when Mexico experienced significant trade liberalization and an important inflow of foreign direct investment. They take into...

At the Davos forum of January 2014, a group of 14 countries pledged to launch negotiations on liberalizing trade in"green goods"(also known as"environmental"goods), focusing on the elimination of tariffs for an Asia-Pacific Economic Cooperation list of 54 products. The paper shows that the Davos...