This paper studies the importance of incentives as a determinant of international trade flows. We argue that barter, countertrade and foreign direct investment can be seen as efficient institutions that mitigate contractual hazards which arise in technology trade, marketing and imperfect capital...

This paper studies interaction of pharmaceutical regulation and parallel trade in a North-South framework. An innovative Örm located in the North can sell its drug only in the North or in both countries. Governments may limit reimbursement for the drug. Reimbursement limits reduce the Örmís...

We study optimal climate policy for a "policy bloc" of countries facing a market where emissions offsets can be purchased from a non-policy "fringe" of countries (such as for the CDM). Policy-bloc firms benefit from free quota allocations whose quantity is updated according to firms' past...

International barter transactions are becoming increasingly important in world trade. The following article examines the reasons for this as well as its implications for competition and the international division of labour, and presents an assessment of future developments.

Unconventional forms of international trade (such as counterpurchase, compensation deals and barter) have assumed rapidly growing importance, especially in many developing countries, as a consequence of the fall in commodity prices and the worsening of international debt problems since the oil...