The paper begins with a brief overview of the developments leading up to the MFA and the role played by the European Economic Community (EEC), the largest market in the world for textiles and clothing. Next, the EEC is used as a reference point for an overview of protectionistic measures taken...

The paper presents estimates of a dynamic demand system of the AIDS type for financial assets. The results suggest that dynamic behavior plays a major role in determining asset demand. Estimates on the basis of the equivalent static equilibrium models prove to be clearly inferior statistically....

Since 1974, the year of the first Multi-fiber Agreement (MFA), a considerable number of studies has analyzed the economic impact of quotas such as those of the MFA on industrialized countries. Examples are the studies by Hamilton (1980), Morkre and Tarr (1980), Wolf et al. (1984), and GATT...

The World Trade Organization's (WTO) Singapore Ministerial Conference in December, 1996, represented the first review of where the WTO was almost two years after the Marrakech signing. Unfortunately, neither in implementing Marrakech agreements nor in dealing with new issues is the...

Several developments in international trade in services impact strongly on developing countries: First, the world-wide diffusion of information technologies (IT) has created new export opportunities for developing countries in IT services. Second, the recently proclaimed Millennium Development...

Zur russischen Finanz- und Währungskrise haben zwar weltwirtschaftliche Umstände wie der Verfall der Preise für Energieträger und die Asienkrise beigetragen. Zu einem großen Teil wurde sie jedoch von wirtschaftspolitischen Fehlern der Regierung verursacht. Im Gefolge der Krise hat der...

The UN study concludes that by the end of this century a substantial reduction in the present income gap between developed and developing countries is feasible. The resource base for realizing the envisaged growth rates is not seen as a limiting factor; limits might rather be imposed by the...