Central to the following discussion is the assertion that a foreign trade policy which maximizes the static efficiency gains from trade may result in reduced dynamic or X-efficiency and thus impair a developing country’s development potential. The dominant view of the relation between...

The question that remains unanswered is whether Trump’s tariff strategy is a tactical one, intended to wring concessions from China, Germany, Mexico and others, or whether it represents a genuine abandonment of the U.S. commitment to free trade that dates back to the mid-1930s. The answer will...

The socialist market economy with Chinese characteristics has turned into a systemic trade and investment issue both bilaterally and multilaterally. The hope that WTO membership would eventually transform China into a market economy with distortions that would gradually become tolerable and...

The new regulatory framework in the digital sector in Europe is likely to fall short of expectations. A fragmented digital market with insuffi cient incentives for investment is the probable outcome. European regulators should abandon their approach in favour of a new and more flexible set of...