The climate is changing, and so diplomacy. Global treaties may be failing, while unilateral actions are proving to contentious both within the trade regime. At same time, countries need given right incentives participate in fight against change start curbing their emissions substantially. European Union's (EU) decision introduce a Carbon Border Adjustment Mechanism (CBAM) momentum around carbon...

Theory suggests that the spatial context within which species interactions occur will have major implications for the outcome of competition and ultimately, coexistence, but empirical tests are rare. This is surprising given that individuals of species in real communities are typically distributed nonrandomly in space. Nonrandom spatial arrangement has the potential to modify the relative stren...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. In this paper, we identify the groups of countries where inte...

Market access liberalization has influenced product-specific growth of world exports and contributed to the shift in the structure of world exports of manufactures towards electrical and electronic goods (including parts and components), goods that require high R&D expenditures, and labour-intensive products such as clothing. Multilateral trade liberalization has strongly improved market access...

We study the influence of minimum quality standards in a two-region partial-equilibrium model of vertical product differentiation and trade. Three alternative standard setting arrangements are considered: Full Harmonization, National Treatment and Mutual Recognition. The analysis integrates the choice of a particular standard setting alternative by governments into the model. We provide a set o...

This paper analyzes the political economy of transport-system choice, with the goal of gaining an understanding of the forces involved in this important urban public policy decision. Transport systems pose a continuous trade-off between time and money cost, so that a city can choose a fast system with a high money cost per mile or a slower, cheaper system. The paper compares the socially optima...

The significant progress in the development of Rapid Single Flux Quantum (RSFQ) logic circuits indicates their potential for fast cryoelectronic device applications. The possibilities of realizing logic components based on this principle with high-T, superconductive (HTS) materials have been studied by means of numerical computations. The most crucial task is to manage the trade-off between des...

We study how corporate financing evolved during the Twentieth century in Britain. We document a remarkable transition from single to multiple firm-bank relationships. Larger, global, or transparent companies with greater needs for bank credit were more likely to add a bank, especially when located in more competitive local banking markets. Deregulation and intensifying competition in the bankin...