As China joins the World Trade Organization, the author questions whether China’s large firms will be able to compete on the global level playing field. Over the past two decades, Chinese large enterprises have undertaken extensive evolutionary change but, at the same time, the world’s...

Recent years have witnessed the rapid growth of China’s imports and exports of manufactures, as well as critical changes in its terms of trade. This study compares trends in China’s price indices for exports and imports between 1993 and 2000. It also examines the terms of trade for China’s...

Using the "revealed competitive advantage indices" for exports and imports, the paper is devoted to the analyses of the vulnerability of selected developing countries if China´s competitive position is improved due to its entry to WTO. In contrast to the existing literature which concentrates...

The Kyoto Protocol sets reduction targets to greenhouse gas emission levels in developed countries, including OECD and East European countries (the so-called Annex 1 Parties to the Climate Change Convention). The Kyoto Protocol gives Annex 1 countries considerable flexibility in the choice of...

This paper analyses the quest for technological progress in China, a large, semi-industrialized, socialist developing country. In the introduction, it is argued that international income convergence is not an automatic product of market forces. Therefore, the path of technological progress in a...

Technology Diffusion, Human Capital and Economic Growth in Developing Countries This paper (i) uses a newly constructed dataset on machinery imports from both developed and developing countries with significant domestic R&D expenditure to assess technology transfer to developing countries, and...

Trade policy is at a crossroads. So is trade diplomacy. The failure of the “traditional import substitution” policies of the 1950s–1970s has been followed by the failure of trade liberalization in the 1980s and 1990s by developing countries. In particular, the deadlock in the negotiations...

The Basel Committee´s Proposals for Revised Capital Standards: Mark 2 and the State of Play. The new 500-page consultative document on capital standards of the Basel Committee on Banking Supervision (BCBS), “The New Basel Capital Accord”, gives what is likely to prove a reasonable idea of...

The virulent crisis that struck five Asian economies in mid-1997 and 1998 raised concern about the stability of the global financial system. The financial crisis and market turbulence caused a steep fall in output, and thus had high economic and social costs. The crisis-stricken economies made...

Globalization has drastically improved access of technological latecomers to advanced technologies and, to the extent that technological upgrading is important for development, it provides a unique opportunity for low-income countries to raise per capita income. This paper shows that low-income...