welfare gain from moving to a world with frictionless trade. In this model, a country's trade potential depends on only the … countries have greater potential gains from trade relative to rich countries, while their welfare costs of autarky are similar … estimates of trade costs, while both the welfare cost of autarky and the volume of trade correlate weakly with trade costs. Thus …

€™s potential welfare gain from moving to a world with frictionless trade. In this model, a country’s trade potential depends on …. Quantitatively, poor countries have greater potential gains from trade relative to rich countries, while their welfare costs of … strongly with estimates of trade costs, while both the welfare cost of autarky and the volume of trade exhibit correlate weakly …