This paper considers the implications of having trade and investment liberalization occur at different points in time. It is found that such a sequencing can be detrimental to the process of liberalization, but can never be beneficial. In particular, it is possible to find distributions of...

Numerous studies have investigated the link between trade policy and firm productivity. Despite justifying firm level analysis on the basis of considerable heterogeneity between firms within narrowly defined industries, these studies typically constrain all firms to have the same expected...

This paper considers the implications of having trade and investment liberalization occur at different points in time. It is found that such a sequencing can be detrimental to the process of liberalization, but can never be beneficial. In particular, it is possible to find distributions of...

Abstract Barriers to trade are commonly viewed as a result of political systems in which politically influential groups benefit from and successfully lobby for protection. However, trade policy is a highly inefficient tool for redistributing income. Although recent theoretical research has...

Barriers to trade are commonly viewed as a result of political systems in which politically influential groups benefit from and successfully lobby for protection. However, trade policy is a highly inefficient tool for redistributing income. Although recent theoretical research has focused on...

Barriers to trade are commonly viewed as a result of political systems in which politically influential groups benefit from and successfully lobby for protection. However, trade policy is a highly inefficient tool for redistributing income. Although recent theoretical research has focused on...