01808cas a2200241 a 4500 AALejournalIMF003310 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451875560 1018-5941 BD-DhAAL BD-DhAAL Levchenko, Andrei. Institutional Quality and International Trade / Andrei Levchenko. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (47 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The quality of institutions-meaning the quality of contract enforcement, property rights, shareholder protection, and the like-has received a great deal of attention in recent years. The purposes of this paper are twofold. First, it studies the consequences of trade when institutional differences are the source of comparative advantage among countries. Institutional differences are modeled within the Grossman-Hart-Moore framework of contract incompleteness. It is shown, among other things, that the less developed country may not gain from trade, and that factor prices may actually diverge as a result of trade. Second, the paper provides empirical evidence of "institutional content of trade:" institutional differences are shown to be important determinant of trade flows. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2004/231 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/231/001.2004.issue-231-en.xml IMF e-Library