Information frictions are often invoked to explain low levels of international trade beyond those that measured trade frictions (tariffs, transportation costs, etc.) can explain. But to explain why international trade is lower then domestic trade, home firms have to know something that foreigners do not. Without information asymmetry, domestic trade and foreign trade would be inhibited equally....

Trade plays an increasingly important role in the global food system, which is projected to be strained by population growth, economic development, and climate change. For this reason, there has been a surge of interest in the water resources embodied in international trade, referred to as ‘‘global virtual water trade.’’ In this paper, we present a comprehensive assessment of virtual water flow...

today trade is the basis of development of any societies that with its expansion, the industrial enterprises, takes advantage of its benefits and enhances their productivity. also they earn competitive advantage and further providing domestic needs, can capture the new markets. among these, the role of imports in trade is very important because the import of capital and intermediate inexpensive...

China's water resources are under increasing pressure from socioeconomic development, diet shifts, and climate change. Agriculture still concentrates most of the national water withdrawal. Moreover, a spatial mismatch in water and arable land availability--with abundant agricultural land and little water resources in the north--increases water scarcity and results in virtual water transfers fro...

For some time now there has been considerable skepticism about the ability of comparative cost theory to explain the actual pattern of international trade. Neither the extensive trade among the industrial countries, nor the prevalence in this trade of two-way exchanges of differentiated products, make much sense in terms of standard theory. As a result, many people have concluded that a new fra...

For some time now there has been considerable skepticism about the ability of comparative cost theory to explain the actual pattern of international trade. Neither the extensive trade among the industrial countries, nor the prevalence in this trade of two-way exchanges of differentiated products, make much sense in terms of standard theory. As a result, many people have concluded that a new fra...

The objective of this study is to see the impacts of economic reforms and trade liberalisation policies on agricultural export performance of Pakistan. The major purpose is to examine the effects of both domestic supply-side factors and world demand on agricultural export performance. Four indicators of economic reforms and trade liberalisation policies are considered namely competitiveness, di...

In this paper we analyze some policy implications of incompleteness of markets in trade models, where there is both inter-spatial and intertemporal trade between countries. We interpret the absence of intertemporal trade as an absence of intermediation services provided by both domestic and foreign service providers. For simplicity, we consider extreme cases where intertemporal intermediation s...

This article develops an approach to measuring the factor content of trade when intermediate inputs are traded, and techniques differ for reasons such as factor price differences. An empirical section documents the importance of intermediates and shows that they mitigate cross-country differences in the factor content of finished goods. The performance of recent models of factor service trade i...