How firms react to a given shock may depend on the degree to which rivals are present and on whether potentially viable entrants to that market exist. A preferred supplier market presence and threat of entry lessen a nonmember country's price reaction to most-favored-nation trade liberalization...

"The author surveys the empirical literature on the political economy of agricultural protection. He uses a detailed data set of agricultural Political Action Committee (PAC) contributions over five U.S. congressional election cycles over the 1991-2000 period to investigate the relationship...

By 2025, six major emerging economies--Brazil, China, India, Indonesia, South Korea, and Russia--will account for more than half of all global growth, and the international monetary system will no longer be dominated by a single currency. As economic power shifts, these successful economies will...