Trade exerts generally favorable effects on the performance of domestic manufacturing industries in the dimensions of allocative and productive efficiency. We review theory and recent evidence on these linkages and also explore a third effect on the turbulence of competitive conditions and the...

Some of the most conspicuous and intriguing international differences in institutions lie in the control, ownership, and integration of enterprises. It is widely accepted that Coase's classic questionWhy does the boundary between the firm and the market fall where it does?is answered by...