There has been an unprecedented trade liberalization which started in the mid1980s in a wide spectrum of developing countries. In the same period, there have also been considerable changes in the tax structures of countries. This paper uses panel data on 65 countries, including 16 Middle East and North Africa (MENA) countries, for the period 1980–1997 to examine how tax structures responded to ...

Research on the macroeconomic impact of capital account liberalization finds few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. Most papers that find no effect of liberalization on real variables tell us nothing about the empirical ...

This paper emphasizes the different nature of cross border liberalization in network related services, such as telcoms, compared to liberalization in goods. In the presence of network externalities, it argues that if two disjoint country service networks involving a small and large country are connected as part of international liberalization, the per capita gain for the small country from acce...

Abstract Exchange rate volatility has emerged as a significant challenge for Asian emerging markets since the adoption of liberalization process. This study examines influence central bank transparency on exchange using sample ten important markets. The uses fixed effect regression model covering financial crisis, global banking and taper tantrum episodes. Results show that an increase in stabi...

T agreement to create a General Agreement on Trade in Services (GATS) was one of the major innovations to emerge from the Uruguay round. Trade in services was not covered by the 1947 General Agreement on Tariffs and Trade (GATT), even though such trade had always accounted for a non-trivial share of the foreign exchange earnings (expenditures) of many countries. The best estimates available sug...

using the optimum control procedure, the present paper is concerned with the effects of trade liberalization on both government and private expenditures in iran. an appropriate analytical consisting of ten equations is specified throgh which significant estimation results are obtained, using econometric method over the 1959-86 period. the model is utilized to explore how any change in control v...