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Growth volatility and trade: evidence from the 1967-1975 closure of the Suez Canal

Parinduri, Rasyad (2012): Growth volatility and trade: evidence from the 1967-1975 closure of the Suez Canal.

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Abstract

This paper examines the effects of trade on economic growth and growth volatility. Using the 1967-1975 closure of the Suez Canal as an instrument for trade, I find that trade leads to higher economic growth, and lower probability of recession or economic slowdown. There is no evidence that trade reduces growth volatility, however.

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