INTERNATIONAL TRADE AND ECONOMIC DEVELOPMENT

ABSTRACT. Kandil examines channels of interaction between exchange rate shifts and the macroeconomy. Exchange rate shifts are differentiated into anticipated and unanticipated components. Goldin and Reinert consider the development benefits and costs of four kinds of capital flows: foreign direct investment, equity portfolio investment, bond finance, and commercial bank lending. Kandil and Mirzaie examine determinants of private consumption in a sample of developing countries.