This paper analyses policy centralization outcomes in a two-jurisdiction model of public good provision choices with … referendum and representative democracy. We show that policy centralization is more likely to occur if the choice to centralize … preferred level of the jurisdiction that least favours centralization, rather than to a compromise between the two jurisdictions …

harmonization and gains from trade. Moreover, standards themselves will be modified by the opening of trade and under reasonable … assumptions harmonization will be one of the outcomes of free trade. The empirical evidence suggests that industry groups are … result of market integration is then international harmonization together with increased differentiation across industries. …

). As a consequence, a growing number of RTAs include provisions on NTMs. This paper investigates the effect of standards-harmonization …-South harmonization of technical regulations reinforces a hub-and-spoke trade structure potentially detrimental to the development of … South-South trade and (ii) harmonization on regional standards hurts Southern exports to the North. Thus, standards-harmonization …

falls short of harmonization across jurisdictions. We identify a free-riding problem and discuss its implications for legal … culture, integration, and harmonization. It is argued that harmonization of legal rules by a central authority in order to …

harmonization of patent policies is necessary or sufficient for global efficiency. …

harmonization can foster financial integration. The results are especially strong for equity holdings. It is verified that the …

, centralization reduces capture, and is more likely to be welfare enhancing in the presence of information asymmetries. Then, we apply …

. We distinguish three modes of unionization with increasing degree of centralization: (1) ‘decentralization’ where wages … firms, and (3) ‘centralization’ where an industry union sets a uniform wage rate for all firms. While firms' investment … incentives are largest under ‘centralization’, investment incentives are non-monotone in the degree of centralization …