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While theoretical models suggest that trade is likely to increase productivity and income levels, the empirical evidence is rather mixed. For some countries, trade has a strong impact on growth, whereas for other countries there is no or even a negative linkage. We examine one likely...
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The growing importance of regional integration, particularly in the Triad of Western Europe, North America and the Asia-Pacific region, is not always regarded as positive, but is also criticized because of the dangers involved for free world trade. What effects on world trade are to be expected?...
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