The concept of virtual water – the amount of water used during the entire production chain of goods – represents a new tool for policymakers in water-scarce countries to shape policies in ways that improve water use efficiency. The present study extends work on the virtual water concept by...

This paper develops a three-sector economic growth model of a small open economy with imported goods and tariff. The three are the industrial, service and public sectors. The model also introduces the impact of externalities, congestion and effects of the public good on the productivities. The...

The debate on international trade and labor market equilibria has often neglected the effects of the former in terms of employment, assuming that these very effects would have been nullified by general equilibrium sector reshuffling. Nevertheless these effects can be relevant also in general...

In this article the Heckscher-Ohlin (H-O) theorem in its both the ‘commodity’ and the ‘factor content’ version is examined under the existence of non-factor price equalisation conditions in the bilateral trade between two countries, in a model with three countries and many commodities....

This paper uses duality techniques and a new diagram to represent the specific factors model. Compared to the existing representations, it is more complete and intuitive, as well as highlighting certain important features of the model. It also allows unemployment to be more easily incorporated,...

Economic integration studied in a framework of endogenous growth can be conducive to extreme results in terms of uneven development. Employing one sector production functions, in the presence of externalities due to increasing returns, the region recording the higher returns to physical...

In this paper we analyze the dynamics of catching up for a backward three sector economy and investigate the transitional structural adjustment process. A theoretical model is developed to explain international development and trade patterns as a transitory process of technological catching up....

A multi-region and multi-sector intertemporal general equilibrium model is constructed to study MERCOSUR regional trade agreement effects on its member countries as well as on a non-member country, the United States. By taking into account both transitional and steady state adjustments,...

By using a three countries-one-commodity trade model, this paper measures the export earnings instability of LDCs in free trade and in an import tariff distorted equilibrium. Free trade is superior to the policy regime when the instability of LDCs’ exports is less than that observed under the...

High- and medium-tech exports (hereafter complex exports), refl ecting a nation’s technological capabilities, can bring a nation larger benefi ts from international trade than simple exports. What determines the complex exports? While the topic is quite important, the quantitative analysis on...