Firm entry and exit play a crucial role in spurring a reallocation of resources across firms as tariffs are reduced. In the light of the substantial trade reforms implemented in the Philippines over the last two decades, the paper examines the impact of trade reforms on the exit of domestic...

We analyze the foundations of the relationship between trade and total factor productivity (TFP) in the Ricardian model. Under general assumptions about the autarky distributions of industry productivities, trade openness raises TFP. This is due to the selection effect of international...

Theoretical results support two concurrent views regarding the mediating role that ownership structure might play on the effect of competition on firm performance. According to one stream of literature, competition has a high, positive impact in companies that have an effective ownership...

Despite nationalistic and protectionist sentiment and fears about a destabilizing Chinese-style "Big Bang" liberalization of China's capital markets, Beijing has demonstrated full compliance with China's 2001 WTO commitments on foreign investment in the securities and fund management service...

This paper attempts to clarify the reasons for the rapid growth of FDI in developing countries, particularly East Asian countries, compared with that of FDI in developed countries. To do this, we will examine the mechanics of HFDI and VFDI with a view toward shedding light on the role of trade...

This paper provides the first evidence about pure exporters (i.e., firms exporting all of their output to the foreign market) -- a phenomenon overlooked and cannot be explained in the existing literature. It then offers a generalized model of Melitz (2003) for examining the existence and...

The private sector is deemed as an engine of growth. As such, many developing countries including Ghana have sought to develop the private sector to propel the growth of their economies. This notwithstanding, much has not been done to examine the effects of such efforts on the productivity of...

As Latin America and the Caribbeans "Great Liberalization" reaches its 30th anniversary, we revisit the trade and growth debate by updating and expanding Estevadeordal and Taylors 2013 paper. To better understand the regions heterogeneity of policies and outcomes, we extend this analysis to...

Has the labor share declined? And what is the impact of international trade? These questions are not only relevant in an international context they also matter for understanding the regional distribution of incomes in a given country. In this paper, we study two regions with trade exposures that...

Almost eight years after the launch of the Doha Round, the WTO negotiations remain mired in a swamp of detail, with many participants unwilling or unable to make the hard decisions which would bring the Round to a conclusion. Meanwhile, the world has changed dramatically with the onset of a...