In 2020, Venezuela has gone through a process of autocratic consolidation. This consolidation taken place amid substantial economic reforms that have allowed the government Nicolás Maduro survive sustained international and domestic pressure. this article, we analyze We explain how, by focusing on establishment an “interim-government” in 2019, Venezuelan opposition been unable to coordinat...

There are two major theories about trade’s effect on the environment. The first, a win-lose scenario, posits that trade liberalization leads to economic growth, which, while increasing incomes, also results in an increasing scale of economic activity and, therefore, greater environmental degradation. This effect might also be compounded by a composition effect, in which countries specialize in ...

Institutional freedom is considered one of the most important factor in the debate of economic growth of nations. Most prominent kinds of institutional freedom which actively take part in economic prosperity are democracy (political liberalization) and economic freedom (business liberalization). In the history of economic growth savings and investment issues have their unique importance. More o...

Trade liberalization is being actively promoted as a key component of development strategies. Through greater efficiency in resource allocation, specialization in production, dissemination of knowledge and technological progress, and competition, trade liberalization should favor economic development and growth. How is this reflected in poverty? In theory, a more liberalized trade regime will m...

In the discussions of trading, unemployment and income distribution inequality, this question is raised by economists that in economic development of developing and developed countries, which policy is necessary in the first stage. Is trading liberalization the pre-requirement of transfer from a close economy to a relative open economy and is it necessary for the developed economy compared to o...

We examine what is perceived as one of the main culprits in the occurrence of banking crises: financial liberalization. As is typically argued, if liberalization is accompanied by insufficient prudential supervision of the banking sector, it will result in excessive risk taking by financial intermediaries and a subsequent crisis. Having evaluated the empirical validity of this hypothesis, we co...

In this paper, we aim at investigating from a game theory perspective whether trade liberalization can promote a collusive intra-industry trade and whether such a collusive trade is always socially desirable compared to the autarchy solution. We show that, under Cournot competition, economic integration is anti-competitive if collusive trade is a possible outcome of the repeated game; under pri...

A Pragmatic Approach to Capital Account Liberalization Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the benchmark neoclassical framework. We explore em...

Recent decades have seen momentous changes in the economic geography of the world. Political transitions and economic liberalization have brought formerly closed countries into the world economy. In Richard Freeman’s phrase, this has amounted to a “doubling of the world labor force.” The collapse of communism in the Soviet bloc brings 260 million workers into the world labor force; the opening ...