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Applies the two‐factor version of the Heckscher‐Ohlin‐Vanek (HOV) theorem. Two hypotheses are derived. The empirical analysis offers support for the second but not for the first hypothesis when trade of each Organization for Economic Co‐operation and Development (OECD) country with the...
Examines the evolution of the role of the Bank for International Settlements (BIS), created in 1930 to promote co‐operation between central banks, into the arena of the Third World debt problem. The bank has extended loans to developing countries, such as Mexico, Argentina, Nigeria and Brazil...
Reports an attempt to evaluate the role of industrial policy in affecting entry in Greek manufacturing industry in 1982‐1988. Finds that industrial policy favouring the restructuring of Greek manufacturing towards capital‐intensive and high technology sectors, affected entrants′ numbers but...
Survey data on expected and actual prices received by individual vegetable growers in Florida, Michigan and Texas in 1990 are used to test the rational expectations hypothesis. The use of individual grower data overcomes many of the issues that have limited previous tests of this hypothesis in...
Attempts to shed new light on the relation between the terms of trade and effective exchange rate using cointegration analysis and data from 25 countries. Findings could be summarized by saying that there is no long‐run relation between exchange rate and the terms of trade.
Analyses smuggling through legal entry points in the context of a Ricardo‐Viner (RV) economy. Posits that smuggling will improve welfare if the benefits of a reduced domestic price distortion exceed the resource cost of smuggling. Strengthening of anti‐smuggling activity need not improve...
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