In this paper we have made an attempt to explain the observed rising inequality between unskilled and skilled wages, or, fall in relative wages of unskilled labour within a general equilibrium framework by introducing specific factors and non- traded intermediate goods. For this we set up two...

The aim of this paper is to show the interaction effect of product market competition and corporate governance variables on firm performance. While the linkage between internal governance mechanism and firm performance is well established in several studies, the interaction between internal and...

Today many developing countries fear that regional movements in other parts of the world will adversely impact their trade as regionalism overtakes multilateralism. The response has been that most of them are trying to get into one regional bloc or the other via regional trade arrangements...

In our model, there are entrepreneurs and other agents. The latter have labour and capital, but no entrepreneurship. They are employed for a wage, or they are self-employed (which is inefficient). If they are employed for a wage, they invest their capital in financial assets. Otherwise, they...

The aim of this paper is to show the interaction effect of product market competition and corporate governance variables on firm performance. While the linkage between internal governance mechanism and firm performance is well established in several studies, the interaction between internal and...

Since the Washington Consensus of the early nineties, there has been an attempt to define the role of governments in development. After the laissez faire market solution of the Consensus there was view that the success of the dirigiste economies of East Asian economies suggested that the...