Trade Openness and Developing Countries' Vulnerability: Concepts, Misconceptions, and Directions for Research

Pierluigi Montalbano

World Development, 2011, vol. 39, issue 9, 1489-1502

Abstract: Summary This work focuses on the welfare costs of exposure to shocks and uncertainty linked to trade openness--a prominent issue in international debate. It contributes by presenting a comprehensive review of the literature on the "destabilizing effects" of trade openness, drawing together studies in different fields. It provides a conceptualization of vulnerability and three promising lines of reasoning (macro, micro, and meso) for future research on the link between trade and vulnerability.

Keywords: vulnerability; trade; openness; uncertainty; volatility; crisis; transmission; developing; countries (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (41)

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