A dynamic general equilibrium model that generalises Roemer's [23] economy with a global capital market is analysed. An axiomatic analysis of the concept of unequal exchange (UE) between countries is developed at general dynamic equilibria. The class of UE definitions that satisfy three...

A dynamic general equilibrium model that generalises Roemer's [23] economy with a global capital market is analysed. An axiomatic analysis of the concept of unequal exchange (UE) between countries is developed at general dynamic equilibria. The class of UE definitions that satisfy three...

The wrongly called free trade between the first economic Power in the world and a backword country as Colombia, based on the experience of the Free Trade Agreement (TLC) between Mexico and USA, is shown, in practice, as assuring structural disequilibrium for Colombian economy and society....

We revisit the hypotheses of unequal exchange and deterioratingterms of trade in the specific context of import-intensive, export-led strategies of developing countries which rely on integration intoGVCs for access to markets in developed countries using a stylizedtwo-country two-commodity...

This paper develops a framework to analyse imperialistic international relations and the dynamics of international exploitation. A new measure of unequal exchange across borders is proposed which captures the territorial structure of imperialistic international relations: wealthy nations are net...