The literature has paid very little attention to a potential positive endogenous nexus between trade globalization and political liberalization. In this paper, I apply a structural approach to investigate two-way causality between the two based on the gravity trade theory, using data from a...

This paper studies the effect of political regime transitions on public policy using a dataset on global agricultural distortions over 50 years (including data from 74 developing and developed countries over the period 1955-2005). We employ both difference-in-differences regressions and...

In this paper, I study how 2007-2009 US financial crisis reshaped the structure of production networks and transmitted shocks from financial and real-estate (F/R) sectors to the entire economy through production networks. Sectors that are more closely related to F/R sectors lose more buyers and...

Welfare bums and welfare queens are by no means limited to the public housing projects. They are also to be found in the corporate boardrooms of some of the most prestigious business firms in the nation, but wherever found, this system is corrupting and inefficient. Government efforts to direct...

Most efforts to negotiate a multilateral agreement on the liberalization and protection of investment have failed despite the fact that there are more than 2,400 bilateral investment treaties in existence. We have coined this phenomenon the quot;lateralism paradox.quot; Within this article, we...

This paper re-examines the determinants of trade policy. It modifies the Grossman-Helpman model of trade policy to take account of factors besides lobby contributions that may lead politicians to value rents differently across industries. The idea is motivated by the puzzling results of the...

The international discussion of Trump's dispute over import tariffs for steel, aluminum and even cars is so far focused on the big global players. However, African countries in particular could suffer from the planned punitive tariffs, analogous to the famous African proverb, "When elephants...

Why do some business associations mobilize, engage in collective action, and take public stands against the populist right while others do not? This article examines business mobilization against the populist right in Germany, which is heavily export-oriented and reliant on the European and...