Transaction costs are a major reason why international trade flows are much smaller than traditional trade theory would … suggest. Trust between trading partners lowers transaction costs and may therefore enhance trade. The empirical analysis of … this paper shows that more trust leads to more trade so that part of the mystery of missing trade can be attributed to the …

disaggregated bilateral trade flows around the globe. We categorise goods into three groups: fragmented, primary and other. The … how exogenous variation in countries trade patterns influences the quality of institutions. Our regressions show that … trade flows generated by fragmented and other processes of production improve rule of law, while trade flows generated by …

I examine the conditions under which trade can support peaceful coexistence and prosperity when particular social and … allow them to withhold production can improve their gains from trade. I describe the implications for indigenous … contemporary evidence and historical cases of organizations and institutions created to engender trade and support peace drawn from …

both advanced and developing economies; and for the influence of shifts in the terms of trade …

Existing literature repeatedly documented a strong correlation between trade and growth. It has also shown a causal … also because of potential second best world effects and the implied endogeneity of trade policy. Policy recommendations for …