In this study, we investigate the contribution of trade openness to the structural change process in ECOWAS countries. Our findings suggest that the production structural change process is significantly and positively affected by the extent of trade openness. Higher openness levels are...

This article investigates by means of an augmented gravity model, the impact of EMU on financial market integration across time by assessing its effect on capital (equities and bonds) holdings. We contribute to the respective literature by investigating this effect from a global perspective and...

Recent cross-country studies on the globalization and output-inflation tradeoff correlation find openness has no significant effect on OECD countries. Those studies assume parameter constancy across countries. In this paper, we argue that this assumption does not hold for major industrialized...

This paper estimates export and import price equations for 40 countries – including 19 emerging market economies (EMEs) – and aims to understand heterogeneity across countries in the degree of exchange rate pass-through to import and to export prices. Results indicate that (i) the...

This paper provides estimates of the exchange rate pass-through to the quarterly Consumer Price Index (CPI) in five Gulf Co-operation Council (GCC) countries (Bahrain, Kuwait, Qatar, Oman, and Saudi Arabia) during the period 1999q1 to 2009q4. The degree of pass-through varies significantly...

This paper analyzes the relationship between bilateral trade flows, trade openness, and asset holdings in a three-country stochastic general equilibrium model. The threecountry model set-up enables me to disentangle and separate the effects bilateral trade flows and trade openness have on...

While the impact of exchange rate changes on economic growth has long been an issue of key importance in international macroeconomics, it has received renewed attention in recent years, owing to weaker growth rates and the debate on "currency wars". However, in spite of its prevalence in the...