This paper evaluates the role of sectoral heterogeneity in determining the gains from trade. We first show analytically that in the presence of sectoral Ricardian comparative advantage, a one -sector sufficient statistic formula that uses total trade volumes as a share of total absorption...

This paper analyzes the unit prices of imports into the EU, Japan, and the US during 1989–2006 of manufactured products in which China specializes. It finds that imports from middle income countries are in close price competition with those from China and that there has been price competition...

This paper presents an alternative decomposition method to explore the driving forces of change in carbon emissions by using distance functions estimated by data envelopment analysis. The proposed approach can isolate the effects of changes in GDP composition and energy supply composition on the...

In recent years China and India have achieved tremendous technological progress and development in the solar photovoltaic (PV) industry. Using case studies, this paper analyses and compares the technology progress in the solar PV industry in China and India, and discusses the role national...

Microscopic traffic simulation models have advanced significantly in recent years and are now used extensively around the world for detailed traffic modelling where dynamic operations have to be represented. Whilst extremely powerful, these models can have substantial calibration requirements....

This study examines how institutional environmental factors, including cultural norm, state regulatory system and venture capital market, influence the high-tech entrepreneur's choice for using network vs. market methods when approaching prospective investors at the early stage of their new...

In the period since 1990, sovereign debt renegotiations take an average of five years for bank loans but only one year for bonds. We provide an explanation for this finding by highlighting one key difference between bank loans and bonds: bank loans are rarely traded, while bonds are heavily...

In the past, foreign borrowing by developing countries was comprised almost entirely of government borrowing. However, private firms and individuals in developing countries now borrow substantially from foreign lenders. It is often asserted that this surge in private sector borrowing generates...

Conventional wisdom suggests that financial liberalization can help countries insure against idiosyncratic risk. There is little evidence, however, that countries have increased risk sharing despite widespread financial liberalization. We show that the key to understanding this puzzling...