No abstract.

The paper demonstrates how trade between developing countries can cause the divergence of long-run growth among these countries. The model describes two symmetric countries trading with each other and the industrial rest of the world. Bilateral trade occurs at any moment if the countries have...

Firms having significant shareholdings in one another is not an unusual phenomenon in countries where the law admits such ownership arrangements, like Sweden and Japan. In this paper the role of cross-ownership as means for deterring takeovers is examined in the framework of a simple two-firm,...

As one of the world’s largest recipients of Foreign Direct Investment (FDI), China is emerging as a key global player in Research and Development (R&D). This rapid increase in R&D investment is mainly attributed to the effort of strengthening the indigenous innovation capacity of domestic...

No abstract.