The distribution of transport infrastructure across space is the outcome of deliberate government planning that reflects a desire to unlock the welfare gains from regional economic integration. Yet, despite being one of the oldest government activities, the economic forces shaping the endogenous...

The issue of liberalization of international trade in services has received considerable attention in recent years. One of the benefits discussed in the literature is the role of services in facilitating goods trade among countries. We test this claim by analyzing the impact of trade in services...

This paper evaluates the time series factor estimators using autoregressive model for the short-term forecasting of Ghana’s GDP growth based on the exploitation of early releases of monthly real sector indictors. The principal component analysis was performed using forecast equation on...

We analyze the empirical violation of the Hillman condition, a necessary and sufficient condition for the correspondence between comparative advantage and pre-trade relative prices. Our comprehensive data set allows us to investigate the Hillman condition for virtually all countries of the...

Globalization means the affirmation of a single market at the global level. More generally, the word globalization is usually used to indicate a unified world that tends to homogenize products and consumption patterns. In addition to the undoubtedly positive effects that the processes of...

The trade balance is built directly into a factor proportions model of produc - tion. A wealth stockpile of the exported good is maintained, growing when the small open economy has a surplus and shrinking with a deficit. Income and prices determine consumption of exports and imports, while...

We analyze the empirical violation of the Hillman condition, a necessary and sufficient condition for the correspondence between comparative advantage and pre-trade relative prices. Our comprehensive data set allows us to investigate the Hillman condition for virtually all countries of the...

When Analyzing Immiserizing Growth For A Tariff-Ridden Small Country, The Ubiquitous Assumption Of Normality In Consumption Is Shown To Be Unnecessary. A Condition Implied By The Optimality Of Free Trade Preserves The Existing Results Even If Either Good Is Inferior.

This paper deals with fragmentation both theoretically and empirically. Not only it presents a picture of the existing literature on the field but it also provides some basic hints for future investigation. It pays particular attention to the possible theoretical dichotomy between fragmentation...

We analyze the empirical violation of the Hillman condition, a necessary and sufficient condition for the correspondence between comparative advantage and pre-trade relative prices. Our comprehensive data set allows us to investigate the Hillman condition for virtually all countries of the...