Transaction costs are a major reason why international trade flows are much smaller than traditional trade theory would … suggest. Trust between trading partners lowers transaction costs and may therefore enhance trade. The empirical analysis of … this paper shows that more trust leads to more trade so that part of the mystery of missing trade can be attributed to the …

We are at the moment, the first in seventy-five years, where there is no international consensus in support of trade …. Indeed, trade is unloved, unsupported, and even unwanted. There is no shortage of topics in the rhetoric of trade complaints … of these complaints, none of them negate the central truth of trade: countries that engage in trade move ahead, and those …

disaggregated bilateral trade flows around the globe. We categorise goods into three groups: fragmented, primary and other. The … how exogenous variation in countries trade patterns influences the quality of institutions. Our regressions show that … trade flows generated by fragmented and other processes of production improve rule of law, while trade flows generated by …

I examine the conditions under which trade can support peaceful coexistence and prosperity when particular social and … allow them to withhold production can improve their gains from trade. I describe the implications for indigenous … contemporary evidence and historical cases of organizations and institutions created to engender trade and support peace drawn from …

This paper presents a model demonstrating how trust affects the volume of trade in a society. There are two ways in …, once this minimum condition is satisfied, the probability of observing a larger volume of trade is high only if the level … between trust and the volume of sales, or the value added of trade. The model also shows that institutions can compensate for …