This paper introduces international capital mobility in a general equilibrium model of a small developing economy which is characterized by a dualistic economic structure. The model is then used to analyze the positive and the normative aspects of development policies that are often recommended...

Evaluating the sources of economic development is of obvious importance, and numerous attempts have been made to judge the impact of many different factors on economic development. Since some empirical studies have reported that telecommunications investment is one of the important factors in...

Increasingly, developing countries embrace foreign direct investment (FDI) and simultaneously pursue economic integration with developed countries. Foreign investment is subject to sovereign risk and it has been suggested that free trade agreements may serve as a commitment mechanism in order to...