This paper examines the impact of European Union policy on genetically modified organisms on trade flows and economic growth. Restrictive European Union policies on biotech production and consumption result in: an effective export subsidy of capital to the South; new trade flows; North America...

The nature of public agricultural research changed in 1980 when the Bayh-Dole Act allowed universities to retain title to inventions that were created with Federal funds, and the court case Diamond v. Chakrabarty allowed patenting of living tissue and eventually other bio-engineered products. In...

The nature of the observed market structure and R&D competition in genomics research is used as the basis for a comparative analysis of research under a mixed oligopoly, pure oligopoly and monopoly when the timing of the innovation outcome is uncertain (as in an R&D race), the winner-take-all...

Several characteristics of biotech industry structure follow cyclical patterns. Mergers and acquisitions activity shows cyclical behavior, with peaks from 1988-92 and 1996-97 and a valley from 1993-95. The ratio of large-firm to small-firm field trials, and the Herfindahl-Hirshmann concentration...

Over the past fifteen years, the agricultural biotechnology industry has exhibited cyclical behavior in concentration and consolidation. This paper provides a theoretical model of endogenous R&D, in which industry concentration exhibits cyclical behavior. The model also generates additional...

The emergence of agricultural biotechnology and policy responses to is altering global agricultural trade patterns. This paper models the effects of restrictive policies concerning the production and consumption of genetically modified agricultural products. The model relies on a...

Undervaluation of the currency is generally believed to affect growth through two main transmission channels: the 'capital accumulation channel' and the 'total factor productivity (TFP) growth channel'. This paper carries out the first empirical investigation on the TFP growth channel. More...

Countries increasingly rely on independent fiscal councils to constrain policymakers' discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the...

Countries increasingly rely on independent fiscal councils to constrain policymakers' discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the...