The U.S. recession could hurt the South, particularly in oil and apparel exports, and Latin America and the Caribbean. But South-South trade is partly picking up the slack. Middle-income countries are driving export diversification of low-income countries. Developing countries may be moving...

The United States (U.S.) recession could hurt the South, particularly in oil and apparel exports, and Latin America and the Caribbean. But South-South trade is partly picking up the slack. Middle-income countries are driving export diversification of low-income countries. Developing countries...

Production networks have been at the heart of the recent growth in trade among East Asian countries. Fragmentation trade, reflected mainly in the trade in parts and components, is expanding more rapidly than the conventional trade in final goods. This is mainly due to the relatively more...

Madagascar's weak administrative system and complex tax structure (with many exemptions) have led to tax evasion and smuggling. The authors compare Madagascar's fiscal system with that of other low-income countries, noting its greater reliance on distortionary taxes. Using a 10-sector model and...

The economic literature now accepts theoretical arguments that liberal, outward-oriented trade policy is better than restrictive, inward-oriented policies. Traditionally such arguments for the gains from trade have rested on the concept of allocative efficiency. But a new argument for liberal...

The authors identifies a new set of stylized facts on the 2008-2009 trade collapse that they hope can be used to shed light on the importance of demand and supply-side factors in explaining the fall in trade. In particular, they decompose the fall in international trade into product entry and...

This book deals with financial liberalization issues in the context of trade negotiations. The liberalization of trade and investment in financial services is only a subset of the broader financial liberalization agenda. The purpose of trade and investment liberalization is to increase financial...