In India companies with substantial foreign direct investment can register as private companies irrespective of the size of their operation whether in India or abroad. Under the Indian company law private companies can prevent public access to certain critical information on their operations....

This paper presents theory and evidence to show that imperialism was a major factor impeding the spread of the industrial revolution during the century ending in the 1950s. Two empirical results stand out. First, analysis of historical evidence shows that most sovereign countries were...

The importance of the economic borders of the nations is diminishing continuously, and this phenomenon is strongly linked to regionalization and globalization. We consider that the starting point of the idea that economic borders (represented by nations’ commercial policies) are irrelevant for...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

This manuscript develops a classroom experiment on international trade that is suitable for undergraduate intermediate macroeconomics, international trade, and international finance courses. Students representing buyers, in a small home country and foreign country, and sellers, both home and...

In this study, we predict a pattern of offshoring and reshoring over the course of economic development. We achieve this, by extending Grossman and Rossi-Hansberg's (2008) model of offshoring in a simple way by assuming that offshoring requires both workers and capital in the offshored country....

This chapter is an extensive review of the existing literature on international migration of labour and its close interactions with international trade in goods and services. In addition, we provide a brief model to show that emigration of labour from a developing country has strong implications...

India’s actual export specialisation in IT services is unrivalled by any comparable country and it is evidence of a strong comparative advantage. This paper finds that India owes its IT specialisation in part to its reliance on offshoring - driven by the supply of well-educated,...