This paper applies the common agency framework and the theory of nonprofit organization to the functioning of international financial institutions such as the IMF, IBRD and ADB. Webs of intricate monitoring networks exist among member countries of an institution, its sevretariat, and countries...

We present a two-country OLG economy in which international capital mobility exixts in the presence of moral hazard in financial contracts.

This paper analyzes the impact of regional integration on outside countries as well as member countries, using a simple model with product differentiation and increasing returns to scale. Major findings include: (I) economic integration surely benefits the member contries but definitely worsens...