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This paper addresses the mechanisms by which trade openness affects growth volatility. Using a diverse set of export diversification indicators, it presents strong evidence pointing to an important role for export diversification in reducing the effect of trade openness on growth volatility. The authors also identify positive thresholds for product diversification at which the effect of openness on volatility changes sign. The effect is shown to be positive only for a minority of countries with highly concentrated export baskets. This result is shown to be robust to both explicit accounting for endogeneity as well as the inclusion of a host of additional controls.

Achieving Shared Growth --- Developing countries --- Economic activity --- Economic Conditions and Volatility --- Economic crisis --- Economic development --- Economic growth --- Economic management --- Emerging Markets --- External shocks --- Financial markets --- Fluctuations --- Free Trade --- Growth effect --- Growth effects --- Growth process --- Growth rates --- Growth volatility --- Interest rates --- International Economics and Trade --- International trade --- Liberalization --- Macroeconomic volatility --- Macroeconomics and Economic Growth --- Markets and Market Access --- Poverty Reduction --- Private Sector Development --- Structural characteristics --- Trade openness

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The authors examine empirically how domestic structural characteristics related to openness and product- and factor-market flexibility influence the impact that terms-of-trade shocks can have on aggregate output. For this purpose, they apply an econometric methodology based on semi-structural vector auto-regressions to a panel of 90 countries with annual observations for the period 1974-2000. Using this methodology, the authors isolate and standardize the shocks, estimate their impact on GDP, and examine how this impact depends on the domestic conditions outlined above. They find that larger trade openness magnifies the output impact of external shocks, particularly the negative ones, while improvements in labor market flexibility and financial openness reduce their impact. Domestic financial depth has a more nuanced role in stabilizing the economy. It helps reduce the impact of external shocks particularly in environments of high exposure-that is, when trade and financial openness are high, firm entry is unrestricted, and labor markets are rigid.

Aggregate Output --- Business Cycle --- Currencies and Exchange Rates --- Debt Markets --- Developing Countries --- Economic Conditions and Volatility --- Economic Fluctuations --- Economic Growth --- Economic Theory and Research --- Emerging Markets --- Exchange Rate --- External Shocks --- Finance and Financial Sector Development --- Financial Depth --- Foreign Exchange --- Free Trade --- Growth --- Inequality --- International Economics & Trade --- Labor Market --- Labor Markets --- Macroeconomic Management --- Macroeconomic Policy --- Macroeconomic Stability --- Macroeconomics and Economic Growth --- Output Volatility --- Policy Research --- Poverty Reduction --- Private Sector Development --- Pro-Poor Growth --- Relative Importance --- Significant Impact --- Social Protections and Labor --- Structural Characteristics --- Trade Openness --- Trade Shocks

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Environmental abiotic stresses, such as extreme temperatures, drought, excess light, salinity, and nutrient deficiency, have detrimental effects on plant growth, development, and yield. Plants are equipped with various adaptation mechanisms to cope with such unfavorable conditions. Our understanding of plants’ abiotic stress responses is crucial to maintaining efficient plant productivity. This book on the responses of plants to environmental stresses is an attempt to find answers to several basic questions related to their adaptation and protective mechanisms against abiotic stresses. The following chapters of the book describe examples of plants’ protective strategies, which cover physiological, cellular, biochemical, and genomic mechanisms. This book is aimed for use by advanced students and researchers in the area of stress biology, plant molecular biology and physiology, agriculture, biochemistry, as well as environmental sciences.

Medicine --- Heterogeneous water stress --- Phyllostachys edulis --- Rhizome --- Vascular bundle --- Stress Signal --- Physiological characteristics --- isoprene --- ocimene --- heat stress --- water stress --- ramie (Boehmeria nivea (L.) Gaudich) --- transcriptome --- nitrogen deficiency --- resilience --- nitrogen-use efficiency --- eggplant --- heat shock factor --- gene family --- expression profile --- abiotic stress --- Malus. ‘Prairifire’ --- photosynthetic characteristics --- chlorophyll a fluorescence --- 2-dimensional electrophoresis --- diurnal regulation --- OsGI --- rice --- U-box E3 ligase --- barley --- ABC gene family --- gene expression --- alarm photosynthesis --- Antarctic --- oxalate oxidase --- Elymus sibiricus, seed aging --- isobaric tandem mass tag labeling --- reactive oxygen species --- parallel reaction monitoring --- Dendrobium catenatum --- superoxide dismutase (SOD) --- stresses --- antioxidative enzyme activity --- low pH --- proline --- protein --- wheat --- WRKY transcription factor --- gene structural characteristics --- regulatory mechanism --- drought --- salinity --- heat --- cold --- ultraviolet radiation --- rainfed --- irrigated --- Gossypium hirsutum --- antioxidant activity --- growth inhibition --- ion homeostasis --- salt stress --- rhizoboxes --- gaseous exchange --- sub-Saharan Africa --- root length density --- Heterogeneous water stress --- Phyllostachys edulis --- Rhizome --- Vascular bundle --- Stress Signal --- Physiological characteristics --- isoprene --- ocimene --- heat stress --- water stress --- ramie (Boehmeria nivea (L.) Gaudich) --- transcriptome --- nitrogen deficiency --- resilience --- nitrogen-use efficiency --- eggplant --- heat shock factor --- gene family --- expression profile --- abiotic stress --- Malus. ‘Prairifire’ --- photosynthetic characteristics --- chlorophyll a fluorescence --- 2-dimensional electrophoresis --- diurnal regulation --- OsGI --- rice --- U-box E3 ligase --- barley --- ABC gene family --- gene expression --- alarm photosynthesis --- Antarctic --- oxalate oxidase --- Elymus sibiricus, seed aging --- isobaric tandem mass tag labeling --- reactive oxygen species --- parallel reaction monitoring --- Dendrobium catenatum --- superoxide dismutase (SOD) --- stresses --- antioxidative enzyme activity --- low pH --- proline --- protein --- wheat --- WRKY transcription factor --- gene structural characteristics --- regulatory mechanism --- drought --- salinity --- heat --- cold --- ultraviolet radiation --- rainfed --- irrigated --- Gossypium hirsutum --- antioxidant activity --- growth inhibition --- ion homeostasis --- salt stress --- rhizoboxes --- gaseous exchange --- sub-Saharan Africa --- root length density