Does a regional trade agreement lessen or exacerbate growth volatility? : an empirical investigation /

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Bibliographic Details
Author / Creator:	Kpodar, Kangni.
Imprint:	[Washington, D.C] : International Monetary Fund, African Department, 2015.
Description:	1 online resource (20 pages)
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/15/177 IMF working paper ; WP/15/177.
Subject:	Trade blocs. International trade. Economic development. Economic development. International trade. Trade blocs.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12504656

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Other authors / contributors:	Imam, Patrick. International Monetary Fund. African Department.
ISBN:	1513540440 9781513540443
Notes:	"July 2015."
Summary:	"This paper assesses how regional trade agreements (RTAs) impact growth volatility on a worldwide sample of 170 countries with data spanning the period 1978-2012. Notwithstanding concerns that trade openness through RTAs can heighten exposure to shocks, in particular when it leads to increased product specialization, RTAs through enhanced policy credibility, improved policy coordination, and reduced risk of conflicts can ease growth volatility. Empirical estimations suggest the benefits outweigh the costs as RTAs are consistently associated with lower growth volatility, after controlling for trade openness and other determinants of growth volatility. Furthermore, regression results also suggest that countries that are more prone to shocks are more likely to join a RTA, in particular with countries with relatively less volatile growth, additionally enhancing the stabilization effect."--Abstract.
Standard no.:	10.5089/9781513540443.001

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