Foreign direct investment can take place through the direct entry of foreign firms or the acquisition of existing domestic firms. Mattoo, Olarreaga, and Saggi examine the preferences of a foreign firm and the host country government with respect to these two modes of foreign direct investment in...

Under administered prices through the fall of 1991, Russia's food distribution system broke down, and it was feared that the food supply would be inadequate in the winter of 1992 and thereafter. In January and March 1992, price ceilings were removed on most items sold in state-owned Russian...

As each new round of multilateral trade negotiations approaches, there is a demand for a negotiating rule that would give credit for autonomous (unilateral) liberalization. The authors show that the feasibility, and desirability of such a rule depend on when it is instituted. A credit rule...

The authors argue that government policies in agriculture have been costly and misdirected worldwide. For them, this inefficiency need not continue. The Urugauy Round is an ideal opportunity for developed and developing nations to strike a bargain. They suggest 1) making agricultural trade...