The EU is a unique economic and political partnership between 27 democratic European countries. It has accomplished a great deal in promoting peace, prosperity, justice, freedom, solidarity, and participatory democracy for its 498 million citizens. The eurozone showcases the achievement of its...

Whereas international joint venture is a dominated strategy in the property rights theory of the firm, this article shows that it can be optimal in the presence of contractual and financial frictions. We use the data of Chinese foreign affiliates to test and support our key theoretical result...

This paper examines various economic issues on offshoring (international outsourcing). It begins with a discussion of the factors that determine a firm's decision to offshore and illustrates, with simple models, the cost saving of offshoring certain stages of production and the advantages of...