During the three past decades, most developing countries have opted for both a higher degree of political democracy as well as increased trade openness. This trend raises the question of the effect of democracy on trade liberalization. To address the question, this paper proposes a theoretical...

This paper examines the interaction of globalization through trade liberalization and climate change, globally with a special focus on Morocco and Turkey. We use the GTAP model, which is a global general equilibrium model, to investigate trade liberalizat

Neither simple average nor import-weighted average tariff indexes are ideal measures of tariff barriers. In this paper, we propose a generalized trade restrictiveness index (GTRI) that extends Feenstra’s (1995) tariff restrictiveness index (TRI) by relaxing the crucial assumption of a small...

This paper considers the implications of the General Agreement on Trade in Services for the delivery of water to low-income residential customers in the South. The specific feature of the GATS is the liberalization of water supplies. The paper argues that the GATS may, depending on national...

Abstract: The paper studies the dynamic welfare and macroeconomic effects of a revenue-neutral strategy of offsetting tariff reductions with increases in destination-based consumption taxes. To this end, we employ a dynamic general equilibrium model of a small open developing economy, featuring...

This paper uses a dynamic dominant-firm model with an endogenous merger process to examine the effects of trade liberalization on industry structure. Domestic and cross-border mergers and demergers are allowed for. When firms are myopic and the dominant firm has a sufficiently high pre-merger...

China's economy has maintained a rapid growth rate over the past two decades; however, its stock market has exhibited a very different level of performance during financial crises. In this paper, we try to explain this phenomenon and answer two important questions: Is there financial contagion...