International trade: why we don’t have more of it

Abstract

Globalization has led to an enormous increase in international trade. Over the past 40 years, world exports as a share of output have doubled to almost 25 percent of world output. However, despite this enormous increase, economic evidence suggests that significant barriers to international trade still exist. In “International Trade: Why We Don’t Have More of It,” Edith Ostapik and Kei-Mu Yi summarize the latest developments in the measurement of international trade barriers.International trade