The adoption of the Tobin tax would be an important political act, a break both with the neo-liberal practices which accompany economic globalisation, and with the fatalism which goes along with them. This idea assumes that the level of co-operation which exists between the nations of the world...

In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of trade. We demonstrate this first theoretically in a...

This paper traces the rise of export-led growth as a development paradigm and argues that it is exhausted owing to changed conditions in emerging market (EM) and developed economies. The global economy needs a recalibration that facilitates a new paradigm of domestic demand-led growth....

Main factors determining the economical inefficiency of the state enterprises (either in the Capitalist or Socialist societies) are underlined. The lack of a sort of “Damocles Sword”, well suspended only upon the efficient behavior of the management under competitive market conditions is the...

There are many viewpoints surrounding illegal immigration into the United States, especially concerning illegal immigrants from Latin America. This paper addresses the economic perspectives of the various stakeholders, starting with the perceptions of those most affected - the illegal immigrants...

This Article argues that the norms and legal practices of global finance in the arenas of sovereign debt and private wealth have led to a significant market failure, in particular the over-supply of sovereign borrowing and a related misallocation of global capital away from its most productive...

In the 2007-2008 financial crisis, over-the-counter (OTC) derivatives triggered the collapse of colossal financial institutions. In response, global policymakers instituted clearinghouse mandates. As a result, all standardized OTC derivatives must now use clearinghouses, and global financial...

In this paper, role of international trade in economic development is discussed, both from the perspective of theoretical development and empiricism. In particular, it revisits theories pertaining to intra-industry and inter-industry trade and presents evidences of resilience in intra-industry...

Chapter 11 of the North American Free Trade Agreement (NAFTA) allows most foreign investors from any NAFTA country to seek monetary damages for properties that might be appropriated, or any measure that might be deemed "tantamount to an expropriation" by the governments of any of the other NAFTA...

In this paper we explore the nexus between cross-border trade integration and monetary policy. We first review the evidence that trade liberalization has increased the degree of integration in North America and conclude that, while robust structural inferences remain elusive, there is sufficient...