International environmental agreements have had varying success in the past; the theoretical literature on international environmental agreements (IEAs) explains why freeriding is so common. This paper allows for two strategically different types of countries. Damage functions are concave for...

In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...

Consisting of teams working with firm level data, the International Study Group on Exports and Productivity has used comparable micro level panel data for 14 countries and a set of identically specified empirical models to investigate the relationship between exports and productivity. The...

Customs-related corruption costs World Customs Organisation (WCO) members at least $2 billion in customs revenue each year. Using recent data only about bribe payers' actual experiences in paying bribes, we show that trade facilitation would only help reduce corruption and improve efficiency -...

Intensity standards have gained substantial momentum as a regulatory instrument in US climate policy. Based on numerical simulations with a large-scale computable general equilibrium model we show that intensity standards may rather increase than decrease counterproductive carbon leakage....

This paper establishes an economic theory of information value and volume that differs from Shannon's mathematical theory of communication (Shannon, 1948). The economics of information should be recognized as an important frontier field of economics to explore the 4th industrial revolution...

The question how the real and the financial side of a capitalist economy relate to each other has been a frequently recurring topic in the history of economic thought. Our paper addresses this question from the viewpoint that capital ultimately seeks returns from its perpetual reallocation and...

This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to reassess the relationship between bank ownership and bank performance, providing separated estimations...

This paper revisits the effects of a country's institutional framework on individual firms' behavior, in particular focusing on their propensity to comply with legal rules. The theoretical model presented here suggests that these effects may be of paramount significance-contrary to the recently...

This paper uses a large cross-country survey of business firms to assess their influence on government policies. It is found that influence is associated with larger, government-owned firms that have a high degree of ownership concentration. In contrast, foreign ownership matters little. It is...