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This paper develops a general equilibrium model and proposes a theory to explain the main stylized facts about the growth of barter transactions in Russia during the 1990s. Because of the high opportunity cost of using fiat money, with a tight enough credit market it may be optimal for firms to barter if they have access to that transaction technology, yet the riskiest firm will keep using money. We also claim that, in the short run, Russian managers might avoid restructuring because it jeopardizes their access to alternative transaction technologies, and that this phenomenon might also take place in well-developed market economies.
Together with efforts to control the arms race, commercial issues were a central feature of relations between the United States and the Soviet Union in the 1970s. There was a clear recognition that trade and economic issues were of key importance to political relations. This book, first published in 1987, is a comprehensive analysis of the views and perceptions held by Soviet Area Executives of US ‘trade actor’ companies in the critical years 1975-76. It focuses on the key issues of overall US-Soviet relations which formed the environment for commercial relations between the superpowers.
This book reveals the key trends in the modern Russian trade policy to provide a deeper understanding of the main challenges and barriers, possible paths and opportunities in its development. An international team of authors investigates specific factors influencing the Russian trade policy evolution; recent trends in Russia’s international trade development; and the impact of Russia’s participation in the World Trade Organization on the domestic economy. Particular attention is paid to regional integration processes that involve Russia and their outcomes; as well as challenges in the remaining and building commercial relations with Russia’s traditional and ‘new’ trade partners, taking into consideration those alienating the West and economic sanctions regimes. The analysis of key trends is combined with a special focus on selected industries and economic partners of Russia. The book contains a variety of case studies investigating the ways in which political and business actors adapt to the transformation of Russian trade policy, how Russia participates in the WTO dispute settlement mechanism, and what the driving forces and outputs are for the national economic agents. Finally, the authors consider what the reasonable expectations might be regarding the future prospects of Russian trade policy. The book presents a unique, comprehensive and multidimensional analysis of modern Russian trade policy. Filling an important gap in the existing literature, this book will be of value to all those interested in Russia’s economic development path.
General Theory of Trade... is the first academic or practitioner text book to establish a general theory of trade and competition and attempts to bring these two disciplines back together. Shanker Singham demonstrates that there is indeed a powerful interface between these two areas and that by understanding this interface practitioners, be they in governments, companies or law and economics firms can succeed in trade negotiations as well as build up support for free trade principles in a time when they are being increasingly challenged. By noting that consumer welfare is enhanced where trade liberalization is accompanied by competitive markets and property rights protection, the author articulates an overall vision in which future policymakers can frame a different kind of trade debate.
For this study, a group of Russian authors were commissioned to describe and assess the arms trade policies and practices of Russia under new domestic and international conditions. The contributors, drawn from the government, industry, and academic communities, offer a wide range of reports on the political, military, economic, and industrial implications of Russian arms transfers, as well as specific case studies of key bilateral arms transfer relationships.
Attempting to provide a fully-fledged theory of enclaves and exclaves, A Theory of Enclaves covers a wide scope of regions and territories throughout the world and satisfies the need for a systematic view on enclaves. This book covers 282 enclaves, with a combined population total of approximately three million, but the importance of enclaves is much higher because of their specific status and issues raised for both the mainland states and the surrounding states: Gibraltar was disproportionately large for British-Spanish relations throughout the last three centuries, Kaliningrad managed to cause a major crisis in the EU-Russian relations in 2002-03, Tiny Ceuta and Melilla have caused tensions in Spanish-Moroccan relations for more than three centuries and have recently become visible as conflict points at the EU level, German Buesingen was subject to several complex international treaties between Germany and Switzerland. Rather than viewing each enclave as a unique case, or even as an anomaly, A Theory of Enclaves provides a systematic investigation of enclave-related political and economic issues. Rich on maps and illustrations, A Theory of Enclaves strives to comprise three facets of enclaves' existence: political, economic, and social life.
International Trade: Theory, Evidence and Policy provides an integrated non-mathematical account of trade theory and policy that can be read straight through. The footnotes provide caveats, extensions and entry points, or further reading.This book is divided into three parts. The first part focuses on the core theoretical analysis of international trade that has evolved over a quarter-millennium. The second part reviews recent empirical research in global value chains, trade costs, and heterogeneous firms, particularly from analysing large datasets of individual firms' characteristics and of trade flows disaggregated to very finely detailed levels. The third section of the book analyzes trade policies and discusses current policy debates.This edition is based on Pomfret's Lecture Notes on International Trade Theory and Policy, first published in 2008. The content has been extensively updated and revised to stand as a new volume.
The collapse of the Union of Soviet Socialist Republic at the end of the 1980’s was conceived as a victory for capitalist democracy. Here, Vincent Barnett provides the first comprehensive account of the historical development of Russian and Soviet economic thought across the nineteenth and twentieth centuries, and considers its future in the twenty-first century. Utilizing an extensive range of historical sources, Barnett examines the different strands of thought, including classical, neoclassical, historical, socialist, liberal and Marxian schools. He traces their influence, and the impact their ideas had on shaping policies. An excellent addition to the Routledge History of Economic Thought series, this book covers pre-1870, Tsarist economics, the late Tsarist period, the impact of the war, Bolshevik economics, Stalinist economics, Russian economics after 1940. Incorporating a detailed timeline of the most significant Russian economists work and analyzing the effects of historical discontinuities on the institutional structure of Russian economics as a discipline, Barnett delivers an essential text for postgraduates and professionals interested in economic history and the evolution of Russian economic thought.
This volume presents new empirical methods and applications in economics with special interest in advances in empirical macroeconomics, microeconomics, financial economics, international economics, and agricultural economics. Featuring selected contributions from the 2022 International Conference of Applied Economics (ICOAE 2021), this book provides country specific studies with potential applications in economic policy. It is beneficial to researchers, scholars, academics and policy makers in quantitative economic research (in both methods and applications).