TY - BOOK ID - 84543299 TI - The Impact of Trade Liberalization on the Trade Balance in Developing Countries AU - Wu, Yi. AU - Zeng, Li. PY - 2008 SN - 146232150X 1452702683 1283516594 9786613829047 145191329X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Balance of trade. KW - Balance of trade KW - Deficits, Trade KW - Trade, Balance of KW - Trade balance KW - Trade deficits KW - Trade surpluses KW - Surpluses, Trade KW - International trade KW - Balance of payments KW - Mercantile system KW - Payment KW - Econometric models. KW - Econometrics KW - Exports and Imports KW - Trade Policy KW - International Trade Organizations KW - Empirical Studies of Trade KW - Trade: General KW - Estimation KW - International economics KW - Econometrics & economic statistics KW - Trade liberalization KW - Exports KW - Imports KW - Estimation techniques KW - Commercial policy KW - Econometric models KW - Indonesia UR - https://www.unicat.be/uniCat?func=search&query=sysid:84543299 AB - Using two recently constructed measures of trade liberalization dates, this research studies the impact of trade liberalization on imports, exports, and overall trade balance for a large sample of developing countries. We find strong and consistent evidence that trade liberalization leads to higher imports and exports. However, in contrast Santos-Paulino and Thirwall (2004) who find a robustly negative impact of trade liberalization on the overall trade balance, we only find mixed evidence of such a negative impact. In particular, we find little evidence of a statistically significant negative impact using our first measure of liberalization dates which extends Li (2004). Using a second measure of liberalization dates compiled by Wacziarg and Welch (2003), we find some evidence that liberalization worsens the trade balance, but the evidence is not robust across different estimation specifications, and the estimated impact is smaller than that reported by Santos-Paulino and Thirwall (2004). ER -