We study the performance of the four Western Hemisphere trading blocs during the period 1978-2001. For the North American Free Trade Agreement (NAFTA), trade integration outweighed trade diversion; for MERCOSUR, increased integration and trade diversion went hand in hand; for the Central American...

This paper examines the importance of agglomeration economies and institutions vis-a-vis initial conditions and factor endowments in explaining the locational choice of foreign investors. Using a unique panel data set for 25 transition economies between 1990 and 1998, we find that the main...

This paper examines different explanations-initial conditions, openness to trade and FDI, and institutions-of the Mauritian growth experience since the mid-1970s. We show that arguments based on openness to trade and FDI are either misleading or incomplete, and the transmission mechanism...

In this article two original microeconomic models of an externality market are described: (1) model of optimal financial compensation of a damage caused by a negative externality in the economy with agents maximizing probability of their survival (generalized Coase Theorem) and (2) generalized...

This paper presents a simple model of strategic network formation with local com- plementarities in effort levels and positive local externalities. Equilibrium networks display - other than the complete and the empty network - a core-periphery structure, which is commonly observed in empirical...

A idéia do conceito da Multifuncionalidade da Agricultura é: agricultura é multifuncional porque além da função central de fornecimento de alimento e fibra, também fornece outras funções ou serviços para toda sociedade, produzindo externalidades positivas. Este conceito pode ser...

This article was inspired by an important number of empirical studies on regional performances, studies which on the one hand classify the Ile de France Region as a high performing entity in terms of productivity, and on the other hand, as an entity which does not exploit its full potential...

This paper examines the spatial dispersion effects of regional conflicts, defined as internal or external armed conflicts in contiguous states, on international trade. Our empirical findings-based on different measures of conflict constructed using alternate definitions of contiguity and...

We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and...

The paper focuses on a new theoretical-methodological approach to interpreting functional transformation processes of farms located in rural areas and marked by a delay in development. We have defined a theoretical paradigm of optimal value portfolio (OVP) which considers -in a new light-...