Since Adam Smith, most economists have held the belief that trade fosters economic growth, although it has not been possible to establish a strong causal relationship. The results of growth regressions are, at best, mixed, and several historical studies have found a positive relationship between...

Like the rest of the poor periphery, Mexico had to deal with de-industrialization forces between 1750 and 1913, those critical 150 years when the economic gap between the industrial core and the primary-product-producing periphery widened to such huge dimensions. Yet, from independence to...

Muhammad Ali, who ruled Egypt between 1805 and 1849, intervened in Egyptian markets in an attempt to foster industrialization, especially between 1812 and 1840. Like a modern marketing board, the state purchased agricultural commodities (cotton, wheat) at low prices and sold them on world...

Oil price behavior has changed dramatically in the last twenty years. These changes can be explained rather simply in terms of the delayed responses of supply and demand to prices, and in terms of changes in the rate of discovery of reserves. This analysis can be used to forecast possible future...

This paper summarises the key findings of a recent study on the impact of Eastern Enlargement of the European Union (EU) on labour markets in the current Member States. The study focuses on three main channels, along which enlargement may affect labour markets in the EU, namely i) trade, ii)...

This paper examines the interactive effect of distance and trade on international conflict and cooperation. The effect of geographic distance depends on trade, while the effect of trade varies with geographic distance. Trade reduces conflict to a greater extent when dyads are geographically...

This paper is an attempt to use the Hausman-Taylor (HT) estimation to examine the determinants of trade flows of Asean Free Trade Area (AFTA). Based on the two-way error component form of the gravity model, we employ the HT technique to estimate export flows by a country panel data of 39...

Cuadernos de Economía has been published since 1963. During these 35 years a large part of the articles have dealt with the Chilean economy. The purpose of this paper is to analyze some important aspects of the Chilean economy, as they have been viewed th

A new presentation of the specific factors model shows how labor fares under international trade by considering how the price elasticity of the nominal wage rate responds to the terms of trade as well as factor endowments. Gains to labor are decomposed into measurable terms of trade effects and...

This paper summarises the key findings of a recent study on the impact of Eastern Enlargement of the European Union (EU) on labour markets in the current Member States. The study focuses on three main channels, along which enlargement may affect labour markets in the EU, namely i) trade, ii)...