Empirical research in international trade is growing at a rapid pace. This book presents some of the existing issues in the field of quantitative analysis of international trade. We highlight recent developments in trade theories and their diverse explanations of gains from trade while explaining the changing pattern of trade over the years. Broadly, the book discusses “new” new trade models; trade growth accounting; gravity models; the impact of trade liberalization under the aegis of regional and multilateral liberalization efforts; methodologies of constructing ad valorem equivalents of nontariff barriers; and volatility spillover effects of financial and exchange rate markets, among other topics.
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