This paper re-estimates the correlation between trade and business cycle synchronization. Different from other previous studies, we employ long-run GDP and trade data and use the GDP cross-correlation index a la Cerqueira and Martins (2009) rather than over-time cross-correlations. We find a...

This paper shows that globalization increases (decreases) the growth rate if and only if the beachhead cost for the domestic market is strictly higher (lower) than that for the foreign market in a endogenous growth model with firm heterogeneity, international trade, and endogenous international...

In the past few decades, many African countries have implemented policies of trade and financial liberalisation. As a result, Africa is today more integrated into the global economic system than it was a few decades ago. Yet, like developing countries in other regions, African economies have...

To explain the links between population distribution and economic integration, we construct a spatial economics model with endogenous fertility. A higher population concentration increases real wages and child-raising costs, thus lowering the fertility rate. However, people migrate to more...

Despite the world-wide spread of economic blocs following the Great Depression, Japan sought to find trade partners outside of its own bloc and to maintain a relationship with some foreign blocs, in particular maintaining a connection with the British Commonwealth and the Sterling bloc. The...

Ten countries-most completing their transition from socialist-based economies to market economies-became the EU members in 2004, two additional countries are slated to join the Union in 2007, and a few others are expected to become members at some future dates. Despite a relatively small...

The conclusions of the 1976 Kemp-Wan proposition are shown to be substantially valid even if all tariff vectors, both pre-union and post-union, are optimally chosen.