Essay question: In the last two decades, one of the central changes in world trade were the rapid growths in exports from newly industrializing economies. With your knowledge of the trade models, discuss how changes in the terms of trade and economic growth will affect the welfare of nations engaged in international trade

Answer the following section:

1. In this section you are expected to critically analyze relevant studies (at least 5 academic journal articles) that directly or indirectly analyze the impact of terms of trade and economic growth on a country's welfare.

2. In doing this, you need to indicate the purpose of each study you cite, how the analysis was comprehended and the findings.