This paper develops an approach for quantifying the importance of different sources of comparative advantage for country welfare. To explain patterns of specialization, I present a multi-country trade model that extends Eaton and Kortum (2002) to predict industry trade ows. In this framework,...

The difficulty of reliably and accurately incorporating tariffrate quotas (TRQs) into trade models has received a lot of attention in recent years. As a result of the Uruguay Round of GATT negotiations, TRQs replaced an assortment of tariff and nontariff instruments in an effort to standardise...

An interesting contemporary research question in trade theory deals with the possibility of rising wage inequality across the globe. A few possible explanations have been provided so far. We provide a natural explanation and a rigorous proof of the phenomenon by arguing that liberalizing trade...

Stringent regulations coupled with corruption generate and sustain extra legal or informal transactions in the developing countries. Does trade related reform discourage informal activities and corruption? This paper attempts to analyze such a phenomenon. An import competing firm allocates...

In Pacific Asia, globalization has resulted in rapidly growing international flows of goods, portfolio capital, and direct investments. At the same time, several countries shift from a command to market economy. Against this background, we analyze the perhaps most popular model used to depict...

In this paper an attempt is made to evaluate the most efficient approach to regional economic integration in Asia. For the purpose, Asia is defined as inclusive of ASEAN, the plus three economies of China, Japan, Korea and India that is the ASEAN plus four. Given that ASEAN is an existing...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...