In its process of growth and its attempt to catch up with the North, the South faces a terms of trade decline in a product cycle scenario. If the South is dependent on imports of northern machines, its growth rate would be adjusted to the growth rate of the North and the terms of trade would...

Contrary to the classical proposition, the works of Prebisch and Singer launched the controversial hypothesis of long-term decline in the terms of trade of primary products vis-à-vis manufactures and a corresponding decline in the terms of trade of the South vis-à-vis the North. The present...

This paper analyses a longitudinal dataset on legal protection of shareholders over a 36 year period, 970-2005 for four advanced countries, UK, France, Germany and the US. It examines two aspects of the legal origin hypothesis - whether shareholder protection is higher in the common law...