abstract t his paper explains bilateral trade patterns between south korea and thirteen opec member countries over the period 1980-2014 using a gravity model. the estimation results show that the gravity equation fits the data reasonably well. we confirmed the existence of long term relationships between the bilateral trade flows and the main components of gravity model - gdp, income (gdp per c...

Environmental regulation is an effective tool to control environmental problems caused by foreign trade. Research conclusions are inconsistent on the relationship between regulations and exports. Based Heckscher-Ohlin-Vanek model, this paper provides empirical analysis for examination effect of manufacturing exports, adopting panel data 16 sectors from China’s during 2005-2015. Material capital...

We study the incentives to expropriate foreign capital under democracy and oligarchy. We model a two-sector small open economy where foreign investment triggers Stolper-Samuelson effects through reducing exporting costs. We show how incentives to expropriate depend on the distributional effects of the investment and on how these affect the interests of the group in power. How investment affects...

Does globalization widen inequality or increase income risk? Globalization amplifies the effect of idiosyncratic relative productivity shocks. But wider markets reduce the effect of economy-wide supply shocks on world prices. Both forces are at work in the specific factors continuum model of this paper. Ex post equilibrium exhibits positive (negative) premia for export (import-competing) sector...

The relationship between trade liberalisation and the environment has been the subject of a growing body of literature in recent years. As can be seen from the differing assessment of instrument types for environmental protection, one of the important factors for the relationship between environmental protection and economic competitiveness are regulatory stringency and efficiency. This concern...

In a two-country infinite-horizon model, with two traded goods and two factors of production and no international borrowing and lending, there is no convergence of incomes if there is factor-price equalization. With factor-price equalization, the Euler equations of the two economies become identical. I show that in such a set-up if agents have a non-zero probability of death, then we do get con...