The quest for economic security can sometimes exacerbate insecurity thereby leading to a black hole of regulations, spending and ever-worsening insecurity. This paper explores food security in the Philippines, demonstrating how the state-trading enterprise for rice increases prices, decreases...

We explore the possibility of representing sustainability concerns in the objective function of an optimal growth problem instead of as a constraint. In a general model with capital accumulation and resource depletion, we represent intergenerational equity using the pure rate of time preference...

We estimate the impact of FDI on growth using sectoral data for FDI inflows to China and Vietnam. Previous empirical studies, using either cross-country growth regressions or firm-level micro-econometric analysis, fail to reach a consensus. Our paper is the first to use sectoral FDI inflow data...

The sources of economic growth and development have been puzzling economists from the modern dawn of the profession. While the Solow-Swan neo-classical model dominated research on growth in the 1960s and 1970s, the 1980s saw the emergence of growth theories that disputed, largely on theoretical...

Once established, invasive species can rapidly and irreversibly alter ecosystems and degrade the value of ecosystem services. Optimal control of an exotic pest solves for a trajectory of removals that minimizes the present value of removal costs and residual damages from the remaining pest...

This paper considers the welfare implications of a discriminatory preferential trading arrangement in a general equilibrium model where imports are differentiated by region of origin and terms of trade are fixed. The relationship between the initial (pre-reform) relative volume of trade with the...