This paper reviews recent literature on the spatial agglomeration of economic activity. This literature provides new ways of thinking about the determinants of the location of production, of trade flows, and of international income differences. Agglomeration of activity arises out of the tension...

This paper gives an overview of different analyses of the effects of globalization on industrial location. It suggests that comparative advantage is inadequate to explain several aspects of the changing patterns of trade and location, and that it needs to supplemented by approaches based on new...

This paper investigates the effect of exchange rate variations on the equilibrium of an industry in which domestic firms are competing with foreign suppliers. The paper is designed as an expository survey. It discusses the perfectly competitive industry; exchange rate pass through under...

The article sets the Asian financial crisis in the context of the developmental state model of Asian development and sees it as, in part, the downside risk of a financial liberalization that was badly handled but nevertheless appropriate as a stimulus to better productivity performance. The East...

Estimates of growth rates of real output per head in various countries are presented and it is concluded that divergence has been more common than catch-up in the twentieth century. Trends in the Human Development Index are reported and these offer a more encouraging picture of the relative...

The paper reviews theory and evidence on the ways in which regulation affects productivity outcomes. In a context of endogenous growth, it is argued that traditional measures of compliance costs miss the potentially most important impacts of regulation on productivity which occur through changes...

Theory and evidence on the effects of public investment on growth and productivity are reviewed. It is concluded that, on average, public capital has positive impacts on output and private investment, partly offset by the effects of the taxation needed to finance it. A possible future shortfall...

This paper provides a survey of the Great Depression comprising both a narrative account and a detailed review of the empirical evidence, focusing especially on the experience of the United States. We examine the reasons for and flawed resolution of the American banking crisis, as well as the...