This paper computes welfare levels under different degree of capital controls and compares them with the welfare level under perfect capital mobility by using the methodology of Schmitt-Grohe and Uribe (2007). We show that perfect capital mobility is not always optimal and that capital controls...

The objective of the present study is to examine whether household access to microfinance reduces poverty. Using national household data from India, treatment effects model is employed to estimate the poverty-reducing effects of MFIs loans for productive purposes, such as investment in...

Despite the world-wide spread of economic blocs following the Great Depression, Japan sought to find trade partners outside of its own bloc and to maintain a relationship with some foreign blocs, in particular maintaining a connection with the British Commonwealth and the Sterling bloc. The...

This paper examines international trade in tainted food and other low-quality products. We first find that for a large class of environments, free trade is the trading system that conveys the highest incentives to produce non-tainted high-quality goods by foreign exporters. However, free trade...

Aunque el desarrollo económico de Japón posguerra ha sido un resultado complicado de varias causas, se podrá prestar una atención especial a las políticas industriales, las cuales se han considerado como uno de los factores esenciales del éxito económico logrado. En este documento se...

This paper examines researchers' choices between either collaborating with venture capitalists (Regime C) or going independently (Regime I), and how their interaction affects long-run endogenous growth, in an economy characterized by incomplete contracts and financial market imperfections. Both...

Why do producers often accept parallel trade in some markets such as automobiles, clothing, toys and consumer electronics? This paper identifies two new factors, viz., market stealing and union-wage cutting, which may make parallel trading beneficial to a manufacturer. Specifically, (i) under...

Until around 1980 Japanese companies occupied a predominant position in Asia. In terms of the scale of operation, level of technology and international competitiveness, they surpassed local Asian companies. They enjoyed number one position. International business of Japanese companies in Asia...

Complexities in the Japanese distribution system are well-publicized. An emerging body of literature has documented recent changes in the Japanese distribution system. In this paper, it is examined whether foreign firms' accessibility to the Japanese distribution system has changed in a...

We examine the effect of threats to property rights on the economic performance of the manufacturing sector of Indian states. We construct indices of the threats from data on crime against property rights. Our estimation results show that not only threats to private property, but also threats to...