Lin, Faqin; Sim, Nicholas C.S. - In: European Economic Review 59 (2013) C, pp. 1-18
Does trade improve the income levels of the poor and less developed nations? Focusing on the Least Developed Countries (LDCs) designated by the United Nations, we construct a new measure of trade cost, based on the Baltic Dry Index (BDI), as an instrument for trade. The BDI reflects the cost of...