The 2008 Nobel prize for economics was awarded to Paul Krugman for three papers - Krugman (1979, 1980, 1991). In this paper we illustrate that, indeed, these three papers are closely connected. We present - a summary of - the papers using a unified framework. Central in the discussion is the...

Trade flows among countries have increased dramatically during the last globalization episode creating new winners and losers between and within countries. This paper revisits the contested topic of the impact of globalization on within-country inequality in Latin America from a historical...

Recent work has documented industrial output growth around the poor periphery from 1870 to the present, finding unconditional convergence on the leaders long before the modern BRICS and even before the Asian Tigers. The Philippines was very much part of that catching up. In the decade or so up...

In the present paper it will be shown that unit labour cost and technology do matter for the world market share in the international trade. However, it will be also shown by means of an econometric model that unit labour cost matters more than technology. The present paper is an extension and...

The protracted international dispute on currency manipulation has exposed the weakness of the contemporary international economic law framework in regulating the sovereign intervention on foreign exchange rate. The legal mandate of the WTO on currency manipulation remains questionable and the...

The new international trade theory has shown that trade among countries does not necessarily depend on international differences in technology and factor endowments. Instead, trade is the result of the exploitation of scale economies and scope economies, and more concretely of the migration of...

Despite the essential role that international trade has historically played for resource-rich African economies, growth possibilities have been hindered by considerable trade barriers. Yet, in the large literature on commodity market integration, Africa is a blank spot and little is known about...

This paper documents the evolution of variables central to understanding the creation of an Atlantic Economy in wheat between the US and the UK in the nineteenth century. The cointegrated VAR model is then applied to the period 1838-1913 in order to find long-run relationships between these...

The paper presents an outline of the issues and a preliminary appraisal of the use of trade sanctions by the World Trade Organization (WTO) as a means of promoting compliance by parties. The WTO is unique among intergovernmental organizations (IGOs) in using trade sanctions to enforce...

This article discusses the place of both the World Trade Organization (WTO) and the Energy Charter Treaty (ECT) and their role in global energy governance in the light of the fragmentation debate roughly twenty years after their establishment. The Energy Charter Secretariat (ECS), the...