The effects of a reform in capital and consumption taxes on private welfare and government tax revenue are examined for a small open, capital-importing economy. A trade-off between private welfare and tax revenue is encountered in maximizing social welfare. Nonetheless, lowering capital taxes...

Using a simple international mixed oligopoly model with one public and one or more foreign firms, this paper examines the effect of partial privatization or foreign competition on optimum tariffs and finds that foreign competition lowers the optimal tariff rate but partial privatization raises...

This paper examines the welfare implications of quotas for an economy that is small in terms of traditionally traded goods and has monopoly power over the trade of goods consumed by tourists. Inbound tourism converts local nontraded goods into tradable goods, creating a tourism terms-of-trade...

This paper investigates the analytical implications of partially mobile capital among sectors arising in the context of the two-sector general-equilibrium Harris-Todaro (HT) model. It is shown that under partially mobile capital, unlike the case of totally mobile or immobile capital, labor...

This paper shows that, in the 2 × 3 sector-specific capital Harris-Todaro model, capital growth owing to either domestic or foreign investment always enhances the welfare of the country (i.e. non-immiserizing), and this result of non-immiserizing foreign investment holds regardless of...

While the welfare effect of foreign aid has been extensively analyzed, the impact on the distribution of income has received less attention. At the same time, there has been recent work on tourism where it is complementary to aid in improving welfare. By combining these two strands, this paper...

This paper uses a general equilibrium model incorporating rural-urban migration to analyze and contrast the short- and long-run effects of profit-sharing. Specifically examined are the effects of profit-sharing on rural-urban migration, the degree of competition among urban firms, and...