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

Posted: 2 Feb 2012

See all articles by Pierluigi Montalbano

Pierluigi Montalbano

Sapienza University of Rome (Italy); University of Sussex

Date Written: January, 31 2012

Abstract

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

JEL Classification: F40, I32, C82, E17, D60

Suggested Citation

Montalbano, Pierluigi, Trade Openness and Developing Countries’ Vulnerability: Concepts, Misconceptions, and Directions for Research (January, 31 2012). World Development, Vol. 39, No. 9, 2011, Available at SSRN: https://ssrn.com/abstract=1996814

Pierluigi Montalbano (Contact Author)

Sapienza University of Rome (Italy) ( email )

Piazzale Aldo Moro 5
Roma, Rome 00185
Italy

HOME PAGE: http://www.uniroma1.it

University of Sussex

Falmer
Brighton, Sussex BNI 9RH
United Kingdom

HOME PAGE: http://www.sussex.ac.uk/

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