This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a suc cess rate in excess of 80 percent under some criteria. The policy works well in terms of...

Bulgaria follows a currency board tied to the euro and we find that multi-product firms (MPFs) specializing only in Non-EU markets absorb exchange rate movements relatively more in their export volume than in their prices of every variety. Such effects can be however offset by cannibalization...

In this paper we investigate the different behaviors between new and continuing exporters in response to exchange rate shocks. We establish a dynamic model, in which new exporters strategically charge a lower price than continuing exporters in order to increase their current sales and accumulate...

In this paper we investigate whether the design of World Bank conditionality, namely the extent of trade liberalization conditions, is influenced by the commercial motives of the Bank’s five major shareholders. Using a newly available dataset on World Bank conditionality we analyze the...

As is the case with several other developing countries which grew rapidly in the 1980s and 1990s, Thailand was largely influenced by neoliberalism. This essay discusses neoliberalism, its influence on Thailand, and the role that neoliberalism played in the subsequent Asian financial crisis....

Substantial tariff reductions and increased usage of non-tariff measures (NTMs) have been key dynamics of global trade policy in recent decades. We use highly disaggregated data on tariffs, NTMs, and trade to investigate how IMF conditionality as a form of external pressure to reduce tariffs...

Tests for causality and rationality in the coffee futures market were carried out using data from the New York Market. Tests of causality indicated that futures prices strongly influence variations in spot price eight weeks or more to maturity. However, beginning seven weeks to maturity there...