This paper presents an alternative view on the appropriateness of international policy coordination. Policy-makers compete for internationally mobile capital by offering club goods which are used as input factors by firms. A country is attractive for internationally mobile capital if the price...

In a recent paper, Muthoo (1995) discusses whether the Rubinstein solution carries over on repeated bargaining situations. He concludes that stationary equilibria for such a repeated bargaining game do not imply the Rubinstein solution and that several non-stationary equilibria may exist. This...

This paper discusses the issue of competitiveness and environmental regulation from the viewpoint of Heckscher-Ohlin models. It demonstrates that the impact of unilateral environmental regulations does not necessarily lead to a decrease in international competitiveness. Important is the measure...

Das Konzept der internationalen Wettbewerbsfähigkeit einer Volkswirtschaft ist seit den siebziger Jahren in der Öffentlichkeit und auch in der wirtschaftswissenschaftlichen Forschung in den Vordergrund getreten. Die Gründe für dieses zunehmende Interesse insbesondere in der Bundesrepublik...

Capital flight has characterized the transformation process in Russia. Inflows of foreign direct investment have been minor and have been preceeded by inflows of portfolio capital. The paper shows that uncertainty about macroeconomic stabilization exhibits a strong negative effect on the volume...

These is an ongoing debate with regard to the Timing and Sequencing of Liberalization in LDC's. The Capital Account or Trade Account First'-Puzzle is tackled with different methodological tools of analysis, ranging from the Political Economy Approach put forward by D. Lai (1987) to the orthodox...