The two most topical issues in current financial markets deal with the causes of the recent financial crisis and the means to prevent future crises. This book addresses the latter and stresses a major shift in most countries toward a better understanding of financial stability and how it can be achieved. In particular, the papers in this volume examine the recent change in emphasis at central banks with regard to financial stability. For example: What were the cross-country differences in emphasis on financial stability in the past? Did these differences appear to affect the extent of the...

This volume brings together a set of 16 papers that focus primarily on the political economy of international trade. What sets these papers apart is the recurrent theme of developing and extending political economic analysis beyond details commonly considered when the papers were written.

The book covers problems relating to international macroeconomics and international finance. The first part develops new approaches to exchange rate modeling. The second part is a collection of papers on the theory and empirical analysis of monetary unions. The third part contains criticism of the mainstream macroeconomic models and proposes alternative modeling approaches.

The advent of the World Trade Organization (WTO) in 1995 transformed international economic law for states, enterprises, and nongovernmental organizations. This book analyzes how the WTO is changing the path of international trade law and examines the implications of these trends for the world economy and the global environment. Containing 18 essays published from 1999 to 2011, the book illuminates several of the most complex issues in contemporary trade policy. Among the topics covered are: Is there a normative theory of the WTO's purpose? Can constitutional theory provide guidance to keep...

Services markets remain highly regulated and international trade and investment is restricted. Previous works have identified the scope for significant gains from trade, yet those results are often debated and the progress on reform has been slow. Parts I and II in Priorities and Pathways in Services Reform help fill the gap in the research around this debate. Part I - Quantitative Studies contains up-to-date assessment and evaluations of the impact of policy in a range of services markets in different countries (through cross-country modelling of the impacts of a reform program). Part II -...

Non-Tariff Barriers, Regionalism and Poverty collects together some of the key articles in three important areas of applied international trade research: measuring non-tariff barriers and their effects, the consequences of regional trading arrangements, especially on the countries excluded from them, and the connection between international trade and poverty. Drawing from 30 years of research and experience, L Alan Winters illustrates the development of techniques of this field and his continued commitment to answering real policy questions at the times at which they are debated. The...

The Political Economy of Trade Policy: Theory, Evidence and Applications is a collection of sole-authored and co-authored papers by Devashish Mitra that have been published in various scholarly journals over the last two decades. It covers diverse topics in the political economy of trade policy, ranging from the role of modeling lobby formation in the context of trade policy determination to its applications to the question of unilateralism versus reciprocity and trade agreements. It also includes the theory and the empirics of the choice of policy instruments. Finally, the book presents the...

In this volume, Sven W. Arndt offers succinct and rigorous explanations of important developments in trade, finance, and international monetary relations. The topics include economic and monetary integration, cross-border production networks, and stabilization policy in orthodox and mixed exchange-rate regimes.

Trade-Related Agricultural Policy Analysis brings together several aspects of agricultural policy analysis in an international context. A unique dimension of this book is a focus not on traditional border measures (tariffs, quotas and export subsidies or restrictions) but on behind-the-border measures that reflect the political economy of agriculture as a primary sector in context of its historical roots and relevant issues within each country. Macroeconomic policies interact with agricultural prices and trade, and thus with farm support programs. There is an intense political economy of...