This paper examines the impact of transaction costs on economic welfare and development. We extend the static model of Romer (1994), in which transaction costs reduce welfare by the reducing the equilibrium number of intermediate goods, and estimate the welfare losses in the case of domestic...

This article outlines work in progress on a study of technological choice in the context of North-South development. Its main purpose is to describe the methodology being developed in the pilot phase of the study. This is of interest because it links together a number of analytic...

This paper focuses on an economic aspect of the disarmament question: the international market of armaments. I shall explore the thesis that arms trade is an increasingly important factor in North-South economic relations, that it affects not only international trade patterns, but also through...