The radical liberalization of foreign trade in Central and Eastern Europe since 1989 has been a key part of the economic reform and has been accompanied by a full-scale geographical reorientation of international trade from East to West. Increased trade with the EU has been associated with...

This paper is concerned with the properties of public-sector shadow prices in the presence of market distortio ns. Some theoretical properties of shadow prices in a competitive gen eral equilibrium model are derived and numerical examples are used to argue that partial equilibrium...

This paper applies simple duality theory to integrate some elements of the theory of public finance into the theory of economic policy in open distorted economies. Results on the effect of reductions in distortions are derived which generalize the results of Dixit (Journal of Public Economics,...

"The reduction in trade barriers in Europe through the Single Market Programme (SMP) was intended to increase competition in European markets, and hence welfare and efficiency. The paper examines how the SMP has affected trade patterns and what can be learnt from this regarding the impact on...