01884cam a2200289 a 4500 1/51294 051123s2004 lu u pdd 0 0eng 92-894-5969-7 1016-8060 (print) 1725-3187 (online) ECFIN/162/04-EN 33165 GR-PeUP eng ΚΕΤ Αλφαβητική σειρά Walde, Klaus. The empirics of trade and growth : where are the policy recommendations? / Walde Klaus, Wood Christina A. Brussels ; Belgium : European Commission: Directorate-General for Economic and Financial Affairs, 2004. 19 σ. ; 30 εκ. Existing literature repeatedly documented a strong correlation between trade and growth. It has also shown a causal effect of imports (though not necessarily exports) on growth in simultaneous equation models but to a lesser extent in Granger-causality tests. Export and import taxes have sometimes been found to negatively affect growth. Drawing policy conclusions from these general findings for a particular country is difficult not only because of the contradictory results but also because of potential second best world effects and the implied endogeneity of trade policy. Policy recommendations for a specific country require a careful analysis of market and institutional arrangements and can not be based on the existing cross-country literature. Economic Papers Wood, Christina A. European Commission : Directorate-General for Economic and Financial Affairs. Economic papers May 2004, No 204. European Economy. Economic papers ; 204. INST UNIPILB KET 20090311 EEEP 204 EEEP 204 NOLOAN 23 1 http://ec.europa.eu/economy_finance/publications/publication_summary714_en.htm