Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ?

Islam, Roumeen; Reshef, Ariell

doi:10.1596/1813-9450-3907

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collection.link.5	https://openknowledge.worldbank.org/handle/10986/9
collection.name.5	Policy Research Working Papers
dc.contributor.author	Islam, Roumeen
dc.contributor.author	Reshef, Ariell
dc.date.accessioned	2012-06-21T18:04:58Z
dc.date.available	2012-06-21T18:04:58Z
dc.date.issued	2006-05
dc.date.lastModified	2021-04-23T14:02:40Z
dc.description.abstract	Good institutional quality (function) and similar institutional design (form) can promote international trade by reducing transactions costs. The authors evaluate the relative importance of function versus form in a gravity model, using an indicator of different legal systems as a proxy for differences in form, together with indicators of overall institutional quality. They find that good institutions promote trade much more than similar legal systems and have much more explanatory power. This effect is economically large-up to 10 times the effect of different legal systems. Moreover, better infrastructure matters as much as good institutions.	en
dc.identifier	http://documents.worldbank.org/curated/en/2006/05/6762296/trade-harmonization-your-institutions-good-matter-different
dc.identifier.uri	http://hdl.handle.net/10986/8678
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	Policy Research Working Paper; No. 3907
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo/
dc.subject	AGRICULTURE
dc.subject	AUTHORITY
dc.subject	BILATERAL TRADE
dc.subject	CIVIL LAW
dc.subject	CIVIL LAW SYSTEMS
dc.subject	COMMON LAW
dc.subject	COMPARATIVE ADVANTAGE
dc.subject	COMPETITION LAW
dc.subject	CONSUMER PREFERENCES
dc.subject	CONTROL
dc.subject	CONTROL OF CORRUPTION
dc.subject	CORRUPTION
dc.subject	CUSTOMS
dc.subject	CUSTOMS PROCEDURES
dc.subject	DECENTRALIZATION
dc.subject	ECONOMIC OUTCOMES
dc.subject	ECONOMICS LITERATURE
dc.subject	ELASTICITY
dc.subject	EUROPEAN UNION
dc.subject	EXPORTS
dc.subject	EXTERNALITIES
dc.subject	FACE VALUE
dc.subject	FEDERALISM
dc.subject	FINANCIAL SECTOR
dc.subject	FREE TRADE
dc.subject	GATT
dc.subject	GDP
dc.subject	GDP PER CAPITA
dc.subject	GENERAL SYSTEM OF PREFERENCES
dc.subject	GOVERNMENT SUBSIDIES
dc.subject	INDUSTRIALIZED COUNTRIES
dc.subject	INFORMAL INSTITUTIONS
dc.subject	INTELLECTUAL PROPERTY
dc.subject	INTELLECTUAL PROPERTY RIGHTS
dc.subject	INTERNATIONAL AGREEMENTS
dc.subject	INTERNATIONAL TRADE
dc.subject	LANDLOCKED COUNTRIES
dc.subject	LAWS
dc.subject	LEGAL DEVELOPMENT
dc.subject	LEGAL LITERATURE
dc.subject	LEGAL PROCEDURES
dc.subject	LEGAL RECOURSE
dc.subject	LEGAL SYSTEM
dc.subject	LEGAL SYSTEMS
dc.subject	LEGISLATION
dc.subject	LESS DEVELOPED COUNTRIES
dc.subject	MARKET ACCESS
dc.subject	MARKET SHARE
dc.subject	POLICY RESEARCH
dc.subject	POSITIVE EFFECTS
dc.subject	PRICE LEVELS
dc.subject	PRIVATE PROPERTY
dc.subject	PROPERTY RIGHTS
dc.subject	QUALITY
dc.subject	REDISTRIBUTION
dc.subject	REGIONAL TRADE
dc.subject	REGIONAL TRADE AGREEMENTS
dc.subject	SHIPMENTS
dc.subject	SUFFICIENT EVIDENCE
dc.subject	SYSTEM OF PREFERENCES
dc.subject	TRADE AGREEMENTS
dc.subject	TRADE FLOWS
dc.subject	TRANSACTIONS COSTS
dc.subject	TRANSITION ECONOMIES
dc.subject	WTO
dc.title	Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ?	en
okr.crosscuttingsolutionarea	Jobs
okr.doctype	Publications & Research :: Policy Research Working Paper
okr.doctype	Publications & Research
okr.docurl	http://documents.worldbank.org/curated/en/2006/05/6762296/trade-harmonization-your-institutions-good-matter-different
okr.globalpractice	Macroeconomics and Fiscal Management
okr.globalpractice	Transport and ICT
okr.globalpractice	Governance
okr.globalpractice	Trade and Competitiveness
okr.globalpractice	Trade and Competitiveness
okr.googlescholar.linkpresent	yes
okr.identifier.doi	10.1596/1813-9450-3907
okr.identifier.externaldocumentum	000016406_20060502124637
okr.identifier.internaldocumentum	6762296
okr.identifier.report	WPS3907
okr.language.supported	en
okr.pdfurl	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/05/02/000016406_20060502124637/Rendered/PDF/wps3907.pdf	en
okr.topic	Transport and Trade Logistics
okr.topic	Law and Development :: Legal Products
okr.topic	Economic Theory and Research
okr.topic	Law and Development :: Trade Law
okr.topic	Industry :: Common Carriers Industry
okr.topic	Transport
okr.topic	Macroeconomics and Economic Growth
okr.unit	Development Research Group (DECRG)
okr.volume	1 of 1

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