This paper considers a developing nation that faces a foreign exchange shortage and hence its demand for foreign goods is limited both by its income and its foreign exchange balance. Availability of international credit relaxes the second constraint. We develop a simple model of strategic...

This paper models a developing nation that faces a foreign exchange shortage and hence its demand for foreign goods is limited both by its income and its foreign exchange balance. Availability of international credit relaxes the second constraint. It is shown that in this setting the...

The problem of child labor has moved from a matter of regional and national concern to one of international debate and possible global persuasion and policy intervention. In crafting policy for mitigating this enormous problem of our times, it is important to start with a proper theoretical and...