The Dutch are the world's leaders in the ower business despite they seem to lack comparative advantage in the traditional sense. Comparative advantages paid a role in the history of the Dutch ower industry and they still have a role today. Based on a critic of Porter's theories, the...

The late 1980s and the early 1990s are turning points in the history of monetary unification in Europe. It is the time of the Delors report which provided the intellectual basis of the Maastricht Treaty. The latter was signed in 1991 and developed the blueprint for monetary union in Europe. At...

The paper develops a two-stage duopoly model in which market structure is endogenous, as it is the outcome of the first stage of the game. The model considers a private firm and a State Trading Enterprise (STE) competing on a foreign market; the most important difference between the private firm...

We explore the role of the ownership structure of capital in an economy that suffers from barriers to entry and an imperfect financial system. In such an environment, an unequal distribution of capital provides an explanation for trade flows and trade gains even when countries do not differ in...

Ce texte propose une analyse critique des paradoxes pour lesquels la théorie de l’économie de l’offre qui inspire la globalisation n’a pas de réponse. L’économie de la démesure est autoreproductible. En s’autonomisant et en s’imposant avec force et brutalité aux sociétés...

A new Development Economics is being built, combining the return to the heritage of the “old” Structuralism with contributions brought by the renewal of the Institutionalism. This paper begins with a balance of the first development economists’ contributions and insufficiencies and of the...

Drastic technological changes are cyclical because basic R&D is carried on only at times when entrepreneurial profits for incremental technologies of the prevailing technological paradigm fall close to zero. The model is essentially an endogenous technological change framework. Varieties, input...

Since little is known about the degree of bias in estimated fixed effects in panel data models, we run Monte Carlo simulations on a range of different estimators. We find that Anderson-Hsiao IV, Kiviet’s bias-corrected LSDV and GMM estimators all perform well in both short and long panels....

The British Industrial Revolution triggered a reversal in the social order whereby the landed elite was replaced by industrial capitalists rising from the middle classes as the economically dominant group. Many observers have linked this transformation to the contrast in values between a...