and began to integrate rapidly with the world economy. With the country’s recent accession to the World Trade Organization …

This paper analyzes the effects of trade openness on budget balances by distinguishing the effects of natural openness … from those of trade-policy induced openness. Using the GMMsystem estimator, the econometric analysis focuses on 66 … developing countries during 1974-98. The results show that trade openness increases a country's exposure to external shocks …

liberalization on imports, exports, and overall trade balance for a large sample of developing countries. We find strong and … consistent evidence that trade liberalization leads to higher imports and exports. However, in contrast Santos-Paulino and …Using two recently constructed measures of trade liberalization dates, this research studies the impact of trade …

trade-offs, the uncertainties regarding the nature of the shocks, and the additional challenges brought on by the global …

. The results confirm that structural factors such as per capita GDP, agriculture share in GDP, trade openness and foreign …

We examine the cyclical properties of development aid using bilateral data for 22 donors and over 100 recipients during … recipient countries. However, they become countercyclical when recipient countries face large adverse shocks to the terms-of-trade …