We construct a simple two-country model that enables us to examine the interactions between trade in goods and international capital movement under financial imperfection. We show that they are complements in the sense that trade in goods facilitates capital outflow from the South, which is...

What are the choices the Asia-Pacific community will face if it proceeds further down the path of developing preferential regional trading arrangements? Fragmentation of the region into preferential trading arrangements on a bilateral or subregional basis promises relatively little economic gain...

What are the choices the Asia-Pacific community will face if it proceeds further down the path of developing preferential regional trading arrangements? Fragmentation of the region into preferential trading arrangements on a bilateral or subregional basis promises relatively little economic gain...

This paper uses a rich set of student transcript data to estimate the economic cost incurred by a university when it does not adopt a 'mean-shift grading policy' to fight grade inflation. In a naiuml;ve scenario, where potential moral hazard constraints are ignored or assumed non-binding, the...