Geography and Ownership as Bases for Economic Accounting provides a forum for leading specialists in trade and international economics to explore whether changes in the world economy have increased the usefulness of international accounts drawn up on the basis of ownership rather than on...

This paper explores the new interconnections between real and financial policies that affect international transactions. Among other conclusions are the following. (1) In a world of spatially mobile capital and reasonably accurate expectations, trends in international competitiveness and...

This paper describes the essential similarity between "modern" commercial policy, with its rent-like revenues, and capital transfers. Import barriers are shown to have consequently ambiguous effects on nominal and real exchange rates. The paper also examines some important supply-side welfare...