This paper develops a dynamic monopolistic competition model with heterogenous firms to analyze the effects of uncertainty on international trade. We characterize a stationary equilibrium, with N symmetric countries, where firms’ productivities evolve stochastically over time. Our model...

This study brifly looks into the process of Turkey into the world economy and concludes that this process has been accelareted in the 1990s.

This paper investigates why regional trade arrangements (RTAs) are proliferating extensively and how the effects of multiple RTAs, by interacting with each other, evolve over time. Our empirical analysis, based on an extended gravity model utilizing a large panel data set of 175 countries from...

This article aims to determine whether the geographical pattern of the external trade of foreign-owned enterprises in Brazil differs from that of domestic enterprises and whether, in the case of foreign enterprises, the region of origin of their capital is an important factor in determining that...

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...

The results of the Uruguay Round, show that the concessions given by developing countries were generally more valuable than those they received from industrial countries. I suggest that this outcome is explained by aggressive demands from industrial countries, and by the lack of resources at the...

This study is divided in ten sections. The first three sections are devoted to macroeconomic performance of the economy in the 1990s, followed by the analysis of contemporary foreign trade performance and institutions. The overall and dramatic decay starting from 1990 is registered in all topics...

This article discusses the probability of growth of neoliberalism in modern China and its implications for Chinese constitutionalism. A China polity under the vision of a neo-liberal regime engenders problems of prescribing a legal system and identifying constitutional ethos. The genesis of this...

The Hayek Hypothesis holds that prices contain enough information to direct the resources in the economy to their most efficient use. In a series of experiments, Vernon Smith (1992) found that, with the right trading institutions, a market with agents that know only their own valuations of a...