Despite several theoretical contributions and considerable informal empirical evidence" to the contrary, a notion that trade and investment are substitutes persists in trade policy" analysis. This paper considers the liberalization of commodity trade versus liberalization" allowing direct...

The observation of an increase in the ratio of skilled to unskilled wages in the high-income countries and in some cases in low/middle income countries has led to considerable discussion and indeed controversy as to its cause. Virtually none of the analysis has considered a possible role of...