Changes in the trade of manufactured goods between the United States and Mexico are examined during the first 5 years of the North American Free Trade Agreement implementation period. Most industries exhibit large increases in intra-industry trade. An examination of intra-industry specialization...

This paper was one input to the Australian Government’s decision to remove tariffs on imports from the least developed countries. The Commission’s analysis suggests that removing tariffs on imports from these countries could significantly boost imports from these countries, particularly of...

When relationship-specific investments are necessary for production, under-investment occurs if contracts cannot be enforced. The efficiency loss from under-investment will differ across industries depending on the importance of relationship-specific investments in the production process. As a...

We analyse trade between Central and Eastern European (CEE) countries and the European Union during 1993-1998 using three methods. First, we calculate the share of intra-industry trade to determine the ex-tent to which two countries trade in similar products. Second, we calculate similarity...

Most of the large tariff reductions achieved in multilateral trade negotiations have involved the use of tariff-cutting formulas, such as the “Swiss” formula. But the wide variations in initial tariff rates between active participants may create a demand for new approaches in the Doha...

Despite the shortcomings of Hayek’s spontaneous order, there is a positive side, perhaps even a positive feedback. Hayek left us with a “what if” question and returns us to that initial opening of Pandora’s Box, or perhaps the initial onset of neo-realism, neo-liberalism,...

This paper looks at the impact on Australia’s trade in crops (non-wheat grains and oilseeds) where GM technology has been introduced. The model includes assumptions about the productivity gains of GM crops, possible consumer responses and regulatory costs for Australia and its major trading...