Which countries find it optimal to form an economic union? We emphasize the risk-sharing benefits of economic integration. Consider an endowment world economy model, where international financial markets are incomplete and contracts not enforceable. A union solves both frictions among member...

Nowadays, businesses are founded on the law of excluded middle and have to make a choice between two paths: they can either choose to evolve and keep pace with the technological trends, or to stagnate and wither just like a flower without water does, and so they become useless – both ways can...

The potential benefit of several regional integration initiatives undertook by African countries in recent years is a contentious issue that is continuously being debated. This article assesses the impact of a free trade agreement between member countries of the Southern African Development...

Due to low bargaining power and scarce resources, small developing states face severe disadvantages in international negotiations and may benefit from bloc formation and intra-bloc migration. Policies are examined in a model where a bloc’s size and welfare impact are determined by...

The Association Agreement between Central America (CA) and the European Union (EU) has three pillars: political dialogue, cooperation, and trade. Nicaragua has the lowest volume of trade with the European continent. Politically, Europe has been a very important companion to lay the foundations...

Ez az írás Magyarország európai uniós csatlakozásának, illetve tízéves EU-tagságának néhány lényeges hatását vizsgálja. Középpontjában az Európai Unió szabályozási környezete áll. Az EU-csatlakozással ez a feltételrendszer Magyarország szempontjából külsőből...