Drawing on three fields of economics (international, labour, and development), this study shows that expansion of North-South trade in manufactures has had a far greater impact on labour markets than earlier work suggested. In the South, unskilled workers have benefited most from this trade, but...

This paper formalises the enduring insights of Heckscher and Ohlin in a way that avoids the two least satisfactory features of the standard Heckscher-Ohlin-Samuelson model, namely that in an open economy factor prices are unaffected by endowments or demand and that outcomes vary drastically with...

The relative costs of trading different goods vary much less than the relative costs of producing them. The costs of trade are also often high. In consequence, as this paper shows theoretically and with simulations, demand elasticities in open economies are much lower than substitution...

Between mid-1988 and mid-1989, Vietnam greatly reduced a very high inflation rate at the same time as removing almost all administrative control over individual prices. This paper examines that experience, in relation to the quite different experiences of most other socialist countries. The...

Cross-country econometric analysis informed by Heckscher-Ohlin trade theory suggests that the concentration of Africa's exports on unprocessed primary products is caused largely by the region's combination of low levels of education and abundant natural resources. In some African countries, the...

What is the role of a bilateral donor such as DFID in the field of finance and development? What should be its priorities, and what instruments are available in the three domains in which it can act - internationally, through governments, and on the private sector? In this article, we offer some...