This annual series provides comprehensive analysis on current and emerging issues of international trade and economics. In this volume, researchers use theory and empirics to provide novel analyses of six of the key issues surrounding the integration of developing countries into the global market place. Contents include: Trade Policy and Industrial Sector Responses in the Developing World: Interpreting the Evidence Erkan Erdem and James Tybout (Pennsylvania State University) Globalization's Impact on Compliance with Labor Standards Ann Harrison and Jason Scorse (University of California, Berkeley) When Economic Reform Goes Wrong: Cashews in Mozambique Margaret McMillan (Tufts University), Dani Rodrik (Harvard University), and Karen Horn Welch (Stanford University) Staying The Course: Maintaining Fiscal Control In Developing Countries Christopher Adam and David Bevan (Oxford University) Through What Channels Does External Debt Affect Growth? Catherine Pattillo, Helene Poirson, and Luca Ricci (International Monetary Fund) Crisis Resolution: Next Steps Barry Eichengreen (University of California, Berkeley), Kenneth Kletzer (University of California, Santa Cruz), and Ashoka Mody (International Monetary Fund)