The author shows that the US as the world's largest investor abroad so far shuns the most dynamic host region East Asia including China and instead continues to focus on investment in Europe. In contrast, Germany follows a different path. Similar to trade, German companies have been very active...

This paper discusses the issue whether developing countries forego chances in world manufactured markets by protecting intermediate services against market entry of new suppliers. By scanning the empirical literature on effective rates of protection (ERP), the evidence is supportive. Yet, it...

The paper discusses the costs and benefits to be expected by least-developed and low-income (‘vulnerable’) economies if they accede to the WTO, the impact of current debates about WTO reform on vulnerable economies, and measures to make it easier for vulnerable economies to accede to and...