To analyze the role of the trade and payments regime in economic development the National Bureau of Economic Research undertook a major research project on this issue. In this article a brief report on some of the findings pertaining to the effect of exchange rates, i. e. devaluation under...

Central to the following discussion is the assertion that a foreign trade policy which maximizes the static efficiency gains from trade may result in reduced dynamic or X-efficiency and thus impair a developing country’s development potential. The dominant view of the relation between...

This paper augments the existing literature on trade and child labor by exploring the effects of terms of trade changes in the context of a three good general equilibrium model, where one of the goods is a non-traded good. We find that under quasi-linear preferences the effect of the terms of...

The orthodox theory of foreign trade, which is simply a theory of re-allocation, can scarcely do justice to the issues that arise in the context of North-South relations. Its isolation from the problems of world and regional economic development, different trade flows and the transfer of...

In the area of foreign trade theory, the theorem of unequal exchange, in the area of social sciences in general and in the sphere of development policy in particular, the "dependencia" approach, and in the politico-economic area, the interdependence approach, have yielded important results and -...

The paper analyzes the effects of a source-based capital income tax on production and market structures, trade and capital flows as well as national and global welfare. The analysis is carried by means of a general equilibrium model of trade which incorporates international capital flows as well...

The paper analyzes the effects of increasing capital market integration on production and market structures, trade and capital flows as well as national and global welfare. In order to facilitate the analysis of the integration process, three stages of capital market integration are defined....