To assess the welfare effects of bilateral versus multilateral trade and/or investment liberalisation in general equilibrium, we set up a three-country and three-factor knowledge-capital model of trade and multinational activity. Numerical simulation results indicate that multilateral...

This paper analyzes empirically the determinants of the EU countries' attitude towards enlargement during the pre-enlargement phase. The empirical specification is motivated from the perspectives of old and new trade theory. A variety of spatial econometric estimators is employed to assess the...