Quid pro quo foreign investment
Article Abstract:
The theory of international trade in the 1980s became focused on product market imperfections rather than factor market imperfections. Political processes also became included in the evaluation of economic policy. The theory of direct foreign investment also changed so that the host country's policy could be endogenous to the DFI in a manner that required the formal incorporation in the normative and positive assessment of the investment. Quid pro quo DFI is characterized by the economic exploitation of the political relationship between trade policy and investment.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1992
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Schumpeterian growth and international business cycles
Article Abstract:
Joseph Schumpeter developed a theory of economic change that explains the business cycle more effectively than either the Walrasian or the Marshallian approach. The new-Schumpeterian view of economic growth models the description of technological change put forth by Schumpeter. This approach, which is related to the endogenous-growth approach, complements the new-classical and new-Keynesian approaches. A new model of international Schumpeterian business cycles generates several co-movements of macroeconomic variables.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1992
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The theory of preferential trade agreements: historical evolution and current trends
Article Abstract:
The formation of preferential trade agreements (PTAs), free trade areas and Customs Unions sanctioned by the General Agreement of Tariffs and Trade Article XXIV, have evolved from models created by various economists. These include the Viner, the Kemp-Wan-Ohyama, the Cooper-Massell-Johnson-Bhagwati, the Brecher-Bhagwati and the Grossman-Helpman-Krishna models. Moreover, the dynamic-time-path effects of PTAs are also evaluated.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1996
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