There is a growing literature that studies the properties of models that combine international trade and neoclassical growth theory, but mostly in a de- terministic setting. In this paper we introduce uncertainty in a dynamic Heckscher-Ohlin model and characterize the equilibrium of a small open...

This paper examines the impact of real exchange rate volatility on economic growth in Kenyan. The study employed the Generalized Autoregressive Condition of Heteroscedasticity (GARCH) and computation of the unconditional standard deviation of the changes to measure volatility and Generalized...

Previous studies have argued that global value chains (GVCs) have increased the sensitivity of trade to external business cycle shocks. This may occur either because GVC trade is concentrated in durable goods industries, which are known to have high income elasticities (a composition effect), or...

We explore the real effective exchange rate (REER) effects on the share of exports of Indian non-financial sector firms for the period 2000–2010. Our empirical analysis reveals that, on average, there has been a strong and significant negative impact from currency appreciation and currency...

The paper constitutes an updated and generalized research earlier conducted at the IET (Sinelnikov, Kadochnikov, Chetverikov, 2003) and comprises an extended review of problems and models associated with the demand for import and import substitution, and revaluation of models using the 2003 data...

We document several new features of firms' export entry and exit behaviors: i) one-third of exporting firms enter into and exit from exporting multiple times; ii) most continuing exporters enter and exit specific export destinations multiple times; iii) firms re-entering exporting often sell the...

International trade increases productivity; internal trade should too. The size and consequences of internal trade barriers are unfortunately not well known. Using unique Canadian data and multiple approaches to measure trade costs, we find internal trade barriers are large, especially for poor...

Purpose: The cost of global piracy has been estimated at $15-25 billion. During 2011, piracy reached an all-time high, but decreased in 2012. Although piracy remains an ongoing threat to world trade and raises commodity costs, piracy activity is being reduced; but the complete resolution of the...

Connectivity is one of the specific agenda in APEC summit 2013 in Indonesia. Physical connectivity is one of the pillars among three pillar of connectivity. Infrastructures are very important to facilitate connectivity, namely logistics. This paper is aimed at (i) exploring the relation between...

This paper compares the performance of the Mexican economy with that of the rest of the region over the past 20 years, based on the available economic and social indicators, and with its own past economic performance. Among the results it finds that Mexico ranks 18th out of 20 Latin American...