This paper examines the main determinants of linkages between foreign and domestic firms in developing countries. Based on existing evidence, we highlight the relevance of linkages generated by MNEs in developing countries and then we discuss the factors which boost or hamper the interactions...

This paper provides a comprehensive discussion of the market value of variable renewable energy (VRE). The inherent variability of wind speeds and solar radiation affects the price that VRE generators receive on the market (market value). During wind and sunny times the additional electricity...

The gravity model has become an efficient tool in the analysis of international economic relations due to its theoretical derivation and ability to explain these relationships. The contending issue now is the appropriate specification and estimation techniques. This paper presents a review of...

This paper examines the formal features, the political rationale, distinctiveness, potential, and difficulties of post-liberal regionalism, with a particular focus on the case of UNASUR. Through this organization, traditional unionism and aspirations of Latin American regional integration are...

Reducing public sector deficits and high debt burdens in part will require an increase in net exports – which is only possible if the countries concerned are able to produce goods and services that are 'competitive' on world markets. Policies aimed at enhancing competitiveness may be offset by...

In this paper we show that free entry decisions may be socially ineffcient, even in a perfectly competitive homogeneous goods market with non-lumpy investments. In our model, inefficient entry decisions are the result of risk-aversion of incumbent producers and consumers, combined with...

This paper discusses the challenges that confront the WTO, inspired by the recent appointment of a new Director-General for the organization and various views that have been expressed by knowledgeable observers as to how these challenges should be addressed. The paper focuses in particular on...

This paper proposes a set of VaR models appropriate to capture the dynamics of energy prices and subsequently quantify energy price risk by calculating VaR and ES measures. Amongst the competing VaR methodologies evaluated in this paper, besides the commonly used benchmark models, a MC...

Onshore, generators are connected to the transmission grid by TSOs. This regulatory model could simply be extended to offshore (i.e. Germany), but the connection of offshore wind farms to shore is also an opportunity to test alternatives, i.e. the third party model (i.e. the UK) or the generator...

The institutional setting of open gas networks and markets is revealing considerably diverse and diverging roads taken by the US, the EU or Australia. We will show that this is explained by key choices made in the liberalization process. This liberalization is based on a redefinition of the...