Heterogeneous Consumers and Trade Patterns in a Monopolistically Competitive Setting
We investigate the 2008–2009 trade collapse using microdata from a small open economy, Belgium. Belgian exports and imports mostly fell because of smaller quantities sold and unit prices charged rather than fewer firms, trading partners, and products being involved in trade. Our difference-in-difference results point to a fall in the demand for tradables as the main driver of the collapse. Finance and involvement in global value chains played a minor role. Firm-level exports-to-turnover and imports-to-intermediates ratios reveal a comparable collapse of domestic and cross-border operations. Overall, our results reject a crisis of cross-border trade per se.
This article assesses the level of openness of Russian economy. It is shown that the open-ness indicators used in the Concept of Long-term Social and Economic Development of the Russian Federation differ from those employed by international organisations. The present research analyses both the intensity of Russian trade in terms of its gross domestic product and the relative strength of import penetration in Russia. Methodological differences determine the differences in the analysis results.
This study analyzes the effects of reducing trade barriers in the context of the objectives of competition policy. Separate chapters are devoted to the assessment of the height of Russian trade barriers, the analysis of the impact of international trade on domestic prices and concentration of production.