The quest for large numbers has been going on for some time in international trade economics: models of trade liberalisation have consistently produced results that, compared ex post with real world data, show the right sign but the “wrong” magnitudes. This paper proposes a new approach by...

This paper discusses the environmental externalities that are commonly found in the developing world (the environmental regime) along with the policy responses, if any, commonly used to deal with these. Included are the effects of industrial emissions, air and water quality impacts of untreated...