This paper sets out to investigate the forces behind the so-called "global capital flows paradox" and related "dollar glut" observed in the era of advancing financial globalization. The supposed paradox is that the developing world has increasingly come to pursue policies that result in current...

This paper sets out to investigate the forces behind the so-called global capital flows paradoxʺ and related dollar glutʺ observed in the era of advancing financial globalization. The supposed paradox is that the developing world has increasingly come to pursue policies that result in current...

In a recent edition of Economic Affairs, Edwin van de Haar provides evidence against the thesis that trade fosters peace. However, I argue his description of the “trade-fosters-peace” thesis as insufficiently precise is incorrect. By its nature, we must use probabilistic language....

In the 1870s and 1880s, the scientist, logician, and pragmatist philosopher Charles S. Peirce possessed an advanced knowledge of mathematical economics, having mastered and criticized Cournot as early as 1871. In 1884 he engaged in a multi-round debate with the editors of The Nation over the...

This paper explores the impact of the South Asian Free Trade Area (SAFTA) agreement on food security by using a gravity model to examine the regional changes in trade in agricultural products. This is followed by a discussion of how this might affect the four dimensions of food security,...

For a very long time, the areas available for continuous long-distance trade were limited to territories the size of Braudel's Mediterranée (1949). Whatever the commercial organizations (merchants in the Roman or the Fatimid Empires, the Hanseatic League, the Florentine Companies), their trade...

We examine how globalization affects trade patterns and welfare when conflict prevails domestically. We do so in a simple model of trade, in which a natural resource like oil is contested by competing groups using real resources ("guns"). Thus, conflict is viewed as ultimately stemming from...

In the last two decades, due to falling barriers to trade and investment, the world economic scenario has profoundly changed. Few rich countries (United States, Great Britain, France, Japan, Switzerland, Germany and the Netherlands) have been securing a substantial stake in worldwide production...

Since June 2007, the EU and India have been negotiating a comprehensive free trade agreement, but negotiations broke down in 2013. Nevertheless, both sides have expressed their desire to revive talks on the Broad-based Trade and Investment Agreement (BTIA). To quantify potential economic...

This study examines the home bias in trade in goods and services within the European Union. Using the newest release of the World Input Output database, available for the years 2000-2014, the effect is estimated using gravity regressions. The trade-reducing effect of borders is found to be...