This paper analyses the impact of unilateral climate policy on firms' international location strategies in emission-intensive sectors, when countries differ in terms of market size. The cases of partial and total relocation via foreign direct investment are separately considered. A simple...

We contribute to the debate on the impact of unilateral climate policy with a two-country two-firm international oligopoly model accounting for endogenous plant location and heterogeneity in both country size and firm's emissions technology. Our results suggest that, if the carbon price...

During the last two decades a number of emerging economies have become deeply engaged in technology-intensive production. This has been reflected in their international trade specialization shifting from labour-intensive goods towards capital-intensive ones, and in rapid productivity gains...

We investigate the relationship between capital misallocation and financial development in six countries at different levels of development. We find that more developed financial systems perform better at allocating capital investment. If financial development is low, faster capital accumulation...

The internationalization of China's currency, the renminbi (RMB) bolsters the growing economic and political influence of China in the Asia-Pacific region. This paper assesses the evolution of RMB exchange rate co-movements against the US dollar (USD) within the region. While the RMB's influence...