Trade liberalization is often the core attention of foreign economic strategies in developing countries. Findings in the literature confirm a significant effect of free trade on developing economies through which the economic sectors benefit from technology transfer and spillovers and increasing production capacities and input productivity leading to international competitiveness. On the other...

This paper examines how financial regulation and institutional quality affect the probability of a banking crisis using panel 138 countries over period 1996–2017. Our key inference is that fits an inverted U-shaped curve: it rises as stringency moves from low to medium levels falls high levels. Countries located in intermediate level regulatory face more instability than either loosely or sever...

In light of the financial crises in the emerging markets, the coming-into-force of the financial services agreement under the GATS has been considered a success. While the agreement provides for little new liberalization but rather formalizes the status quo, it has been feared that governments could even backtrack on previous commitments in the belief that more open markets could increase the d...

The majority of OECD countries has experienced a reduction in the volatility of output during the past two and a half decades. This period has also been characterized by a process of capital accounts liberalization among these countries. We study an open economy business cycle model with financial market frictions and show that the international liberalization of capital markets can lead to low...

trade linearization according to scale, composite, and technology effects, changes the environment quality. on the other hand, trade liberalization, increases capital flow in the world. based on pollution haven hypothesis, polluted intensive industries move from the countries with stringent environmental policies to those with more relaxed environmental policies. in order to evaluate the effect...

Does trade liberalization foster total factor productivity (TFP) growth in the manufacturing sector? Does sectoral trade orientation determine sectoral TFP levels and growth rates? These questions are addressed using pooled pre-and post-liberalization panel data from Cameroonian firms of eight manufacturing industries. A single production function for the whole manufacturing sector is estimated...

Decentralization can complement market liberalization by strengthening incentives of agents to exploit local information in response to market signals. In China, however, banks centralized lending authority following financial reforms in the mid-1990s. We offer a new theory of financial decentralization in which centralization provides a credible commitment not to refinance bad projects by redu...

the main purpose of this study is to determine welfare impacts of trade liberalization on maize market. for this purpose, we used from time series data for the period 1961/2009 and estimated domestic supply, domestic demand and import demand for maize. results of estimation showed that price elasticity of supply and demand is 0.32 and -0.25, respectively. then, by means of these elasticities, w...