The Washington Consensus suffers from fundamental inadequacies, and that a more comprehensive framework of the economic process is needed to guide the formulation of country-specific development strategies. The following five propositions summarise the set of interrelated arguments made in this...

The Washington Consensus suffers from fundamental inadequacies, and that a more comprehensive framework of the economic process is needed to guide the formulation of country-specific development strategies. The following five propositions summarise the set of interrelated arguments made in this...

The weak global GDP growth since the financial crisis in 2007-2009 has coincided with unusually weak growth in global trade. Organisations that monitor international macro-economic development have identified growing protectionism – not least the increase in non-tariff barriers to trade, such...

It is widely believed that trade agreements are necessary to enable the UK to prosper in world markets. In reality, unilateral free trade is possible and offers many benefits. The UK’s exports of services to the EU owe little to the Single Market as national barriers to trade in services still...

This paper draws on the neoclassical theory of international trade to examine the limits of efficient export diversification in low-income, commodity-exporting countries. It demonstrates the fundamental importance of relative factor endowments among countries for determining the commodity...

According to Copenhagen criteria, any country formulating its option to adhere at the European Union has the obligation to meet a series of requirements: - the consolidation and the stability of the fundamental institutions that guarantee the lawful state and the human rights; - a functional and...

In this article we inquire into the root causes of the present financial crisis by drawing on a Heckscher-Ohlin-Samuelson trade model. At the origin of the current crisis are global imbalances originating from distortions in relative prices. Due to impasses in international production, financial...

In this article we inquire into the root causes of the present financial crisis by drawing on a Heckscher-Ohlin-Samuelson trade model. At the origin of the current crisis are global imbalances originating from distortions in relative prices. Due to impasses in international production, financial...

According to Copenhagen criteria, any country formulating its option to adhere at the European Union has the obligation to meet a series of requirements: - the consolidation and the stability of the fundamental institutions that guarantee the lawful state and the human rights; - a functional and...

Recent efforts by international trade economics have led to the integration of the theory of the multinational enterprise into the theory of international trade. This is both an exciting and an important development. Prior to the last decade or so, analysis of the MNE was largely distinct from...