Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and...

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...

La Revista Integración & Comercio del BID incluye artículos referidos a las distintas manifestaciones del proceso de integración en América Latina y el Caribe, a la integración hemisférica y, también, a los procesos con igual orientación que se llevan a cabo en otras partes del mundo....

La Revista Integración & Comercio del BID incluye artículos referidos a las distintas manifestaciones del proceso de integración en América Latina y el Caribe, a la integración hemisférica y, también, a los procesos con igual orientación que se llevan a cabo en otras partes del mundo....

This study traces out the way trade liberalization process affects the trade balance keeping into view the stationary nature of data used. The cointegration techniques and the error correction mechanism allow us to establish both, the short-run and the long-run relationship among different...

Privatization and market liberalization are widely considered to be complementary reforms in transition economies. This paper challenges this view and the closely related "big bang" approach to economic reform. Our analysis suggests that when pursued simultaneously, privatization may actually...

Purpose – The objective of this paper is to contribute to the existing literature by examining which combination of three important agricultural policies – land distribution, domestic food production, and trade liberalization – is most conducive to improving food security in developing...

International economic order, including the rules of the game for trade, usually suffers from enforcement problems. We examine the prospects of self-enforcing cooperation as trade relationships evolve. It turns out that factor differentials and specificities are of utmost importance. In fact,...

This paper examines how trade liberalization affects the growth rate of sectoral employment in developed and developing countries. The estimation results imply that trade openness in the form of higher trade volumes has not been successful in generating jobs in developing countries. The overall...

Addressing a gap in most discussions on globalization, Stalker examines how migration interacts with movement of goods and capital and how it is closely tied to social and economic changes. He makes starkly clear the major impact that economic convergence is likely to have on migrant flows and...