Marin, Dalia; Schnitzer, Monika - In: American Economic Review 85 (1995) 5, pp. 1047-64
A countertrade contract ties an export to an import. Usually, countertrade is criticized as a form of bilateralism and reciprocity and, thus, as an inefficient form of international exchange. In this paper, the authors argue that there are circumstances in which the tying of two technologically...