This paper constructs a dynamic model of the arms trade in which there are a small number of suppliers who care about the profits from the trade and the security consequences of the sale and a large number of interacting buyers who are concerned about their security relative to regional rivals....

In this paper, we show that if capital and labour are complementary inputs and labour is in surplus[LS], economic development will reduce investment in the agricultural sector. We analyse the impact of factor substitutability and factor mobility on economic welfare as indicated by changes in...

The UK, with its relatively liberal immigration policies following recent enlargements, has been one of the main recipients of migrants from new EU member states. This paper poses the questions: what is the effect of immigration on a receiving economy such as the UK? Is the effect beneficial or...