This paper examines the welfare effects of trade liberalisation and economic growth in an economy which is large enough to influence world prices and in which trade is restricted by both tariffs and quotas. I derive general expressions for shadow prices of goods and foreign exchange and use them...

Regional policy has taken the centre stage in delivering current UK government efforts to promote productivity-driven economic growth. This article considers the validity of the prime indicator being used to assess regional economic performance: gross value added (GVA) per head. Evidence...