I rely on a historical natural experiment to provide, for the first time, a causal estimate of the effect of currency unions on international trade. Since the seminal paper by Rose (2000), a large literature has developed around currencies as a trade cost. However, self-selection and endogeneity...

We measure the impact of frequent exogeneous shocks on small ECCU economies, including changes to global economic activity, tourism flows, oil prices, passport sales, FDI, and natural disasters. Using Canonical-Correlation Analysis (CCA) and dynamic panel regression analysis we find significant...

This study investigated the effect of exchange rate shocks on foreign trade (exports and imports) of 10 ECOWAS economies. The Autoregressive Distributed Lag (ARDL) approach to co-integration and error correction model was employed to examine the long-run and short-run relationship between the...

Shipping accidents and environmental disasters pose a challenge to the reliability of maritime supply chains. With international trade intensifying without a significant diversification of the supply routes the risk of perturbations is likely to increase, because higher atmospheric carbon...

China has achieved rapid economic growth and international trade development through integration into global value chains (GVCs). However, integration has also resulted in massive greenhouse gas emissions, aggravating the pressure imposed by global climate change. Based on the World...

We study the diffusion of shocks in the global financial cycle and global liquidity conditions to emerging and developing economies. We show that the classification according to their external trade patterns (as commodities’ net exporters or net importers) allows to evaluate the relative...

With China’s economy transitioning from high-speed to high-quality development, whether and how to achieve functional upgrading in Global value chains (GVCs) are crucial, which are yet to be demonstrated. This study provides a long-term macro-economic analysis of the functional upgrading in...

This paper uses 68 measures of trade policy and trade liberalization to ask if membership in theWorld Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) is associated with more liberal trade policy. Almost no measures of trade policy are significantly...

This chapter was prepared for the Handbook of International Economics (Vol. 5) edited by Gita Gopinath, Elhanan Helpman, and Kenneth Rogoff. We provide a review of the recent literature —both theoretical and empirical — analyzing the multi-dimensional connections between globalization and...

This research was aimed to understand the effects of exchange rate volatility on UAE’s international trade. To examine the effects, ten of the top trading partners of UAE were considered for this study. Additionally, in order to determine the volatilities of UAE’s top ten trading partners’...