This paper models and tests the implications of institutional efficiency on the pattern of FDI. We posit that domestic agents have a comparative advantage over foreign agents in overcoming some of the obstacles associated with corruption and weak institutions. Under these circumstances, FDI is...

This paper models and tests the implications of institutional efficiency on the pattern of foreign direct investment (FDI). We posit that domestic agents have a comparative advantage over foreign agents in overcoming some of the obstacles associated with corruption and weak institutions. We...

Extensive research has demonstrated the existence of large potential welfare gains from trade facilitation - measures to reduce the overall costs of the international movement of goods. From an equity perspective an important question is how those benefits are distributed across and within...

"The book, published on the occasion of International Trade Centre's 50th anniversary, traces the history of the organization since its inception in 1964 - reflects on five decades of global growth and illustrates how the world economy is rebalancing; identifies and analyses the three major...

This paper proposes a new method for measuring the degree to which the domestic capital stock is self-financed. The main idea is to use the national accounts to construct a self-financing ratio, indicating what would have been the autarky stock of tangible capital supported by actual past...

This paper argues that the limited ability to help developing countries in a crisis should shift the focus to policies helping in reducing the ex ante probability of crises. Indirectly, such policies would also alleviate the depths of realized crises. Two specific ideas are explored: I....