Using cross-country consumption data we estimate a system of demand equations in a piecewise manner to investigate whether price and expenditure elasticities for energy differ between broad groups of countries. The empirical results reject the assumption of constant parameters across regimes of...

Recent evidence suggests that regional economic integration provides an important stimulus not only to trade, but also to FDI. In contrast, the available theory on FDI does not yet provide empirically testable propositions on the effects of concurrent trade and investment liberalisation....

This paper uses a simple gravity model of bilateral FDI flows to assess the commonly heard assertion that FDI inflows into transition economics in Central ad Eastern Europe have been disppointingly low. The results show that the amounts of overseas investment bY EU countries in the more advanced...