Technological collaboration coupled with equity participation improves the quality of transacted technology relative to a situation characterised by a pure technology licensing agreement. Such a result is proved in a model of a signalling game with asymmetric information and threat of imitation....

This paper argues that international trade should affect local organization of production in a systematic way. By using the standard Heckscher-Ohlin-Samuelson model we show that the export sector is more likely to demonstrate fragmentation, entrepreneurship and outsourcing compared to the...

Does corruption aggravate wage-inequality? We try to answer this question in terms of a general equilibrium model where both skilled and unskilled workers participate in corruption. Corruption in our model diverts resources from the productive sectors. Factor intensities within the productive...

An important source of trade with time zone differences is related to the “coincidence in time” aspect of service transactions. Trade across different time zones is gainful when fulfilling nighttime demand in one time zone by utilizing daytime supply in another time zone. This note...