Purpose: The purpose of this paper is to investigate the direction of causality between firm productivity and export status. The correlation can arise from multiple alternative causal models, and the authors study if more productive firms export, and/or if firms learn to export, and/or if firms...

Purpose This paper aims to present a chronology of Indian business cycles in the post-reform period. In India, earlier, macroeconomic shocks were about droughts and oil prices. Economic reforms have led to an interplay of a market economy, financial globalisation and decisions of private firms...

Purpose – Recent developments in the literature on international trade and foreign direct investment (FDI) emphasise the role of firm characteristics in shaping firm participation in exports and FDI. The seminal work of Melitz and Helpman-Melitz-Yeaple (HMY) places heterogeneity in firm...

This book makes concrete macroeconomic policy recommendations for Asian economies aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas...

Trade misinvoicing should be seen as an element of de facto capital account openness. Traditional explanations for trade misinvoicing—high custom duties and weak domestic economies—are less persuasive in a world of high growth emerging markets that have low trade barriers. We construct a...