In the 1992 Rio Earth Summit, developing countries (DCs) were adamant that, in order to protect the environment for the future, new institutions were needed which would channel resources from the wealthy developed countries to the poor DCs. With this backdrop, I analyze the problem faced by an asymmetrically informed supranational governmental authority (SNGA) who wishes to design an Internatio...

There is substantial interest in development policies related to international migration from developing countries. In the last decade, there has been a wave of rigorous empirical studies (many of which are randomized controlled trials) quantifying the impacts of such policies. This article examines evidence on the impacts of policies in five areas: 1) migration facilitation, 2) migrant educati...

Temporary Shocks and Offshoring: The Role of External Economies and Firm Heterogeneity We construct a model of offshoring with externalities and firm heterogeneity. Due to the presence of externalities, temporary shocks like the Y2K problem can have permanent effects, i.e., they can permanently raise the extent of offshoring in an industry. Also, the initial advantage of a country as a potentia...

The development of pre-industrial Europe was driven by the expansion of trade. This paper describes the patterns of trade and shows how they can be understood in terms of differences in trading costs. It discusses how the different levels of trade–from local to transoceanic-contributed, both quantitatively and qualitatively, to the process of growth. JEL Categories: F14, F15, F43, N13, N73, O19...

The paper examines the applicability of GDP-linked bonds for the financing of developing countries and emerging markets. GDP-linked bonds are bonds of which the coupon and/or redemption payments are tied to the GDP of the issuing country. The study encompasses a detailed empirical analysis of their pricing behaviour, the pricing sensitivities to changes in GDP, and of their behaviour in a portf...

We studied 21 strains of amikacin-resistant Serratia marcescens from three different U.S. cities, Twenty of the 21 strains contained conjugative R plasmids mediating gentamicin and tobramycin resistance. Amikacin-resistant S. marcescens from two cities predominated in protracted outbreaks. Conversely, the amikacin-resistant Charleston strain (serotype 02/03:nonmotile) was isolated from only fou...

As the world recovers from the worst economic crisis since the Great Depression, the international community should promote a mix of policies to sustain this global recovery and create jobs through reducing carbon dependency, ecological degradation and poverty. Such a Global Green New Deal (GGND) requires a long-term commitment to implementing and coordinating “green investments” by the Group o...

Motivated by the proliferation of free trade agreements (FTAs) in Asia over the last decade, this paper studies the challenges faced by the Asian “noodle bowl”—overlapping, multiple trade rules, regulations, and standards in Asia—in the process of regional and global trade integration. The paper first highlights the importance of trade and investment linkages among Asian economies that have for...

This study explores the importance of cross-border social networks for entrepreneurship in developing countries by examining ties between the Indian expatriate community and local entrepreneurs in India’s software industry. We find that local entrepreneurs who are based in cities with weaker formal institutions rely significantly more on diaspora networks for business leads and financing. Relyi...

The institutional structure of global commodity chains and cross-border production networks has a profound impact on how the benefits of globalized production are distributed. This paper engages with this issue by developing a model that combines the insights of earlier unequal exchange theorists and new work on global commodity chains to clarify the distributive dynamics of the expansion of lo...