In the recent decade, reversed brownfield FDI are intensified. Companies from developing countries such as China, initiated cross border mergers and acquisitions on target firms in developed countries with large turnovers. Many of the parent companies are state-owned enterprises and many of the...

Some paradoxes, such as 'The Braess Paradox,' persist in transportation networks. This paper studies the congestion properties in networks constituted by a set of circular and diffusive expressways. We use a model with a single origin/multiple destination (E-net) to depict the evening rush hour,...

This paper examines self-enforcing International Environmental Agreements (IEAs) in an open economy environment. Using an extended model of Barrett (1994), we show that: (i) equilibrium tariff is positive; (ii) the endogenously determined size and the effectiveness of an multilateral IEA are the...

Relationship banking paradox refers to the case that credit market competition may threaten relationship banking practice, but it may stimulate it as well because of differentiation. Using a mixed model of adverse selection and double moral hazard, this paper shows that for some parameter...

Recent surges of China's outward FDI feature four stylized facts: China's OFDI is predominately conducted by state owned or state controlled enterprises (SOEs); a large proportion of such OFDI takes the form of cross-border M&A; most of the target firms are failing firms, which lead to poor...

The paper studies the behavior of mid- to long-run real coal price in the Chinese market. The problem is of great importance because the coal takes a 70% share in China's energy mix, and China is the world's second largest carbon emitter. An accurate forecast in coal price is crucial in...

This paper examines the efficiency and welfare effects of intra-industry trade in the presence of imperfect competition and heterogeneous technologies. We show that when a Southern country has a relatively less concentrated industry and faces low demand, the output of the Northern country may...

type="main" xml:id="twec12188-abs-0001" <title type="main">Abstract</title> <p>Global imbalances are attributable to savings deficiency in some economies and savings glut in others. The recent global crisis has triggered widespread social conflict over income inequality. The inequality-saving link has again become a pressing...</p>

Based on the Deviation from Proportional Growth (DPG) model developed by H.B. Chenery and his coauthors (e.g., Chenery, 1960; Chenery et al., 1962; Chenery et al., 1986) and Structural Decomposition Analysis (SDA) model proposed by Syrquin (1976), this paper develops a new SDA model that directly...