The world economy has become more open and integrated in recent years. Countries are more engaged in international trade and the importance of tradables relative to non-tradables in national output is rising everywhere. Capital flows more freely among countries and workers cross borders more...

The authors review current developments in international trade and its prospects for the future arguing that despite the recent slowdown, trade remains an important driver of economic growth and development. Scepticism towards further trade opening needs to be addressed, notably via appropriate...

Purpose − This study explains a puzzle: most countries realize the mutual benefit of tariff cutting, but tariffs never become zero. Approach − The method is decision-theoretic, and proves the results by example. Findings − The Johnson tariff-ridden equilibrium may be unique, but not the...

Artificial photosynthesis (AP) is an area of well-advanced research involving large international groups at the cutting edge of synthetic biology and nanotechnology. In simple terms it offers to produce a cheap source of hydrogen for fuel through using sunlight to split water, as well as making...

The existing theoretical literature does not take into consideration the existence of non-traded goods and the nature of capital mobility between the traded and the non-traded sectors in analyzing the consequences of liberalized investment policies on the relative wage inequality in the...