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Frontmatter -- Contents -- Acknowledgments -- Preface -- 1. Introduction: Geographical And Historical Background -- 2. The world Economy At The Turn Of The First millennium -- 3. World Trade 1000–1500: The Economic Consequences Of Genghis Khan -- 4. World Trade 1500–1650: Old world Trade And...
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This paper studies some implications of economic integration in the context of a neoclassical model of international trade, public investment, and capital mobility. Owing to the endogeneity of the productive public capital stock, international capital mobility, while equalizing returns to...
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This paper provides a summary of what is known about trends in international commodity market integration during the second half of the second millennium. The range of goods which have been traded between continents since the Voyages of Discovery has steadily increased over time, and there has...
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The principle of laissez-faire, so closely associated with Adam Smith and the classical economists, should certainly not be considered an endorsement of anarchy as the ideal form of social order. Despite the theological overtones of divine providence in the imagery of the "invisible hand", Smith...
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This paper provides a synthesis of the three papers on the non-Nordic developed economies, Ireland, Japan and Switzerland along the following themes: role of the state, openness, education and human capital, and macroeconomic stability. It then draws lessons for developing countries of today.
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