This paper proposes an international trade model under uncertainty in which international differences in financial development provide the basis for trade. When preferences exhibit risk vulnerability as defined by Gollier and Pratt [1996], financial development reduces individuals’ risk...

In a context of generalization of decentralization in the world going "hand in hand" with democratization and globalization, Brazil qualifies the universality of this process, at least in matter of fiscal federalism. In the paper, we firstly adopt a comparative perspective relative to an...

In this paper, we implement Granger causalty tests using panel data as methodology perfected by Hurlin (2004, 2005) and Hurlin and Venet(2004). We consider the bilateral trade patterns of the European Union with 17 countries over the period 1976-2000. We show that for the whole sample, there are...

This paper investigates the welfare effects of international trade when technological idiosyncratic risk is distorted by optimistic and pessimistic managers. We show that free trade always improves the ex-ante welfare but sometimes lowers the ex-post welfare. Free trade commitment can be...

Le Laboratoire Prospective, Stratégie et Développement Durable (PS2D) de la Faculté des Sciences Économiques et de Gestion de Tunis (Université Tunis El Manar) et le Réseau de chercheurs de l’Agence Universitaire de la Francophonie ‘Analyse Economique et Développement’...

Le retour du Brésil à la démocratie s’est accompagné d’une ouverture aux échanges au niveau multilatéral (OMC) et régional(Mercosur). Simultanément, la constitution de 1988 affirmait une volonté forte de décentralisation fiscale. Vingt ans plus tard, le bilan de l’intégration...

Lors des émeutes de Seattle, en 1999, les manifestants avaient planté deux panneaux indiquant deux directions opposées :l’OMC vers la droite, la démocratie vers la gauche. Cette incompatibilité supposée entre la libéralisation du commerce et la démocratie aurait sans doute étonné...

Over the past two centuries, the connection David Ricardo made between money and foreign trade was widely commented on the basis of the 1809-1811 writings, notably the High Price of Bullion, Proof of the Depreciation of Bank Notes, of the 1816 Proposals for an Economical and Secure Currency,...