This Article brings to the attention of those public servants involved in the design and negotiation of free trade agreements between the United States and developing countries, such as Colombia, the potential benefits and drawbacks of negotiating in a bilateral forum. Rather than critiquing the...

In the current age of trade and financial openness, local economies in developing countries are becoming increasingly exposed to external investments. The objective of the proposed two-sector model with environmental externalities is to provide an insight into the interaction between external...

Why did the Japanese economy stagnate beforeWorldWar II, how did it achieve rapid economic growth after the war, and why did it stagnate again after the 1970s? To answer these questions, I developed a two-country trade model with technology transfer, where firms in a developed country (the U.S.)...

We propose a new measure of inter-industry ‘distance'. This is constructed a la Antras et al. (2012). While they measure the distance of an industry from its final use - what they call ‘downstreamness' of an industry - we measure the distance between a pair of industries. Our proposed index...

This paper studies the joint dynamics of the Canadian economy in conjunction with US economic variables. The methodology employed is that of the structural vector error correction that combines unrestricted short-run dynamics with long- run restrictions derived from growth theory. Common trends,...

Since 1981, the United States has managed a trade deficit that has become more negative with each passing year. Yet, economic growth has been on a positive trend. Is there a relationship between the two? Using annual data from 1950 to 2014, this article investigates the causal relationship...

The paper applies fuzzy clustering techniques to developed and emerging economies in East Asia in order to arrive at an identification of potential subgroups of economies for monetary union. The statistical criteria employed are those suggested by the Optimal Currency Areas theory and the period...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...