That tax haven policies contribute to favorable economic growth in tax haven countries is widely accepted in international policy dialogues. There is, however, minimal empirical evidence to substantiate this assertion. Empirical investigations are hampered by the likely endogeneity of tax haven...

With the revival of global economy, the issues of "exit policies" and rebalancing global growth have taken center stage in policy discussions. Since many emerging Asian economies presently have large current account surpluses, the issue of rebalancing has special significance for Asia. While...

Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize F&R's...

This paper studies the connection between trade and growth in the context of a partial and inconsistent liberalization process in a specific Eastern European country in transition towards market economy, namely, the Republic of Belarus. The analysis of the country trade patterns during the USSR...

With the revival of global economy, the issues of “exit policies” and rebalancing global growth have taken center stage in policy discussions. Since many emerging Asian economies presently have large current account surpluses, the issue of rebalancing has special significance for Asia. While...

Trade promotes economic growth, alleviates poverty and helps countries reach their development goals. However, developing countries – in particular the least developed – face difficulties in making trade happen and turning trade into economic growth. The Aid for Trade Initiative – launched...

We estimate the effect of imports and exports of intermediates on economic growth in a panel of more than 100 among developed and developing economies. We find that both capital and intermediate imports positively affect growth. The overall effect is driven by the effect of imports in developing...

This working paper draws on historical and contemporary data on tariffs, non tariff barriers, and transportation costs (for the United States and its major trading partners) to estimate the role of policy liberalization in US merchandise trade growth over the period 1980 to 2006. Both partial...

This paper empirically analyzes the net effect of trade openness on ‘economic culture,' measured by indicators of trust, respect, level of self-determination, and obedience. Openness to international trade means that societies are more likely to be exposed to alternative attitudes, beliefs,...