The Theory of the Second Best implies that any country with less-than-ideal resources can lose from international trade. Recently it has been suggested this means the South (poor countries) are better off suppressing trade with the North, especially trade in natural resource products, since the...

Despite the general belief among economists on the growth-enhancing role of international trade and significant trade opening over the past 25 years, the growth performance of many developing economies, especially of those in Latin America and Africa, has been disappointing. While this poor...

Artículo de revista ; This article describes the main characteristics of the trade agreement reached between the European Union (EU) and the Common Market of the South (MERCOSUR) in 2019 and presents estimates of its possible impact on trade and GDP in the two areas." "It is an ambitious...

This is Bruegel’s third report on the internationalisation of European firms, and the first one that relies on new, internationally consistent data resulting from the seven-country survey undertaken within the framework of the EFIGE (European Firms in a Global Economy) project. In the first,...

The object of study is the exchange of knowledge between agents of the private sector and its implications for innovation, social welfare and economic policy. The exchange of knowledge is of great importance, in particular with respect to innovative activity. New Growth Theory for instance...

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Despite the clear influence of European Union biotechnology restrictions on trade patterns, very little work has been done to model these influences or their long-run effects. This paper presents an economic trade theory model of biotechnology, biotechnology research and development (R&D), and...