It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic...

Since the recovery from the great financial crisis in 2010, global real trade flows grew much slower than pre-crisis, in both absolute terms (growth rates) and relative terms (relative to GDP, from 2:1 in the great 1990’s to 1:1 since 2012) A debate has arisen as to whether this global trade...

This research examines the economic origins of Islam and uncovers two empirical regularities. First, Muslim countries, virtual countries and ethnic groups, exhibit highly unequal regional agricultural endowments. Second, Muslim adherence is systematically larger along the pre-Islamic trade...

The global process of strengthening and harmonization of intellectual property rights (IPRs) systems has been intensified in the last twenty five years by the signing of trade agreements (TAs) that include chapters with intellectual property (IP) provisions and other non-trade-related issues....

This research examines the economic origins of Islam and uncovers two empirical regularities. First, Muslim countries, virtual countries and ethnic groups, exhibit highly unequal regional agricultural endowments. Second, Muslim adherence is systematically larger along the pre-Islamic trade...

In the world trading system there has been an increase in unilateral trade and bilateral trade of differentiated products. However, the main trade theories have difficulties providing an explanation for unilateral trade. We show that profit seeking abroad by merchants or countries originates...

This paper assesses the relative merits and demerits of different East Asian models by placing them in a historical perspective. It re-interprets Gerschenkron's model of late industrialization, and extends it to compare East Asian economies in view of substituting and complementing models. It...

This paper estimates relative differences in factor prices (and thus industry comparative cost differences) between the United States and each of eight country groups by relating differences in factor-use requirement and actual bilateral export/import ratios across industries. Predictions...

This paper uses a Ricardian model to generate predictions about the influence of institutions on trade in differentiated (complex) and commoditized (simple) products and then uses a rich international trade data set for empirical tests. The model draws the distinction between the role of...