The WTO is one of the most important intergovernmental organizations in the world, yet the way in which it functions as an organization and the scope of its authority and power are still poorly understood. This comprehensively revised new edition of the acclaimed work by an outstanding team of...

The adoption, on 20 October 2005, of the Convention on the Protection and Promotion of the Diversity of Cultural Expressions (Diversity Convention) has returned the limelight to the suitability of World Trade Organization (WTO) rules for cultural products. This article shows that the Diversity...

We study the determinants of the dollar/pound real exchange rate from 1879 to 1914 focusing on the role of fiscal policy. We present a simple dynamic model of the real exchange rate to frame our analysis. The econometric results are based upon the decomposition of the sources of the innovation...

We show a statistically significant and economically relevant effect of open capital accounts on financial deepness and economic growth in a cross-section of countries over the period 1986 to 1995. Countries with open capital accounts over some or all of this period had a significantly greater...

The paper lays out basic design options for infrastructure policy. It first sketches mechanisms to asses demand. Then it sets out a hierarchy of issues starting with choice of market structure followed by conduct regulation. Ownership options are largely a function of market structure choices....