We analyze the relationship between trade and the environment in a vertically integrated world economy, an international market structure that deserves further scrutiny given its empirical relevance. Next to the traditional free-riding incentive, we find that the stringency of environmental...

This paper is the first to provide both theoretical and empirical evidence of farmland globalization whereby international investors directly acquire large tracts of agricultural land in other countries. A theoretical framework explains the geography of farmland acquisitions as a function of...

This paper is the first to provide both theoretical and empirical evidence of farmlandglobalization whereby international investors directly acquire large tracts of agricultural landin other countries. A theoretical framework explains the geography of farmland acquisitionsas a function of...

This paper analyzes the impact of vertical linkages on the international effects of environmental policy. With vertical linkages, stricter environmental policy at home indirectly reduces pollution in the rest of the world. This spillback effect can reinforce the free-rider problem that arises...