Trade Regulation

Please choose the most appropriate answer for each sentence.
  • 1

    Recent World Bank research suggests that countries should complement trade openness with greater flexibility of their investment ..... and labor markets.

  • 2

    "Trade ..... growth in flexible economies, but its positive impact is much reduced - and in some cases, even reversed-in excessively regulated economies," says Caroline Freund, Senior Economist in the World Bank's Trade Research Team.

  • 3

    Trade stimulates growth by directing resources into their most productive uses both within and ..... industries.

  • 4

    An excessive regulatory ..... will prevent this reallocation of resources from occurring, reducing the prospects for trade-generated growth.

  • 5

    However, complications can arise because of interest groups that ..... to lose in a more flexible environment.

  • 6

    Some of the steps that ..... regulated economies need to take are easy and inexpensive; for example, it does not cost much to reduce excess procedures for registering a new business.

  • 7

    New technologies can also ..... deregulation, such as implementing online registration systems.

  • 8

    The success of openness depends on whether firms can adjust quickly to the new conditions ..... by international competition.

  • 9

    Doing well in the areas of public infrastructure, governance and ease of firm entry clearly correlates with stronger trade-related growth, suggesting that countries may need to simultaneously ..... reform in several areas in order to benefit from trade openness.

  • 10

    An analysis to help identify the areas requiring reform helps design a policy package tailored for a particular country, as opposed to a(n) '.....' approach.

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