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This study tests for convergence in financial development and economic growth by incorporating the interaction between the real and financial sectors into an otherwise traditional test for convergence. The results show strong evidence for conditional convergence. Middle- and high-income...
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Before the introduction of terminal handling charges (THCs), traditional freight rates included both ocean freight charges and terminal charges at ports. Since the introduction of THCs in 1991, the freight rate has become a "port-to-port" charge that covers only the sea leg, while the on-shore...
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