Hijacking, Hold-Up, and International Trade
Insecurity impedes trade. Using a variant of the gravity model (the workhorse of empirical international economics) Anderson and Marcouiller (1999) showed that transparent government policies and enforceable commercial contracts significantly reduce trade costs and increase trade volume. This paper asks two further questions. Does insecurity impede some types of trade more than others? Do different dimensions of insecurity affect different types of trade differently?
|Date of creation:||31 Aug 2000|
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- James E. Rauch & Alessandra Casella, 2003. "Overcoming Informational Barriers to International Resource Allocation: Prices and Ties," Economic Journal, Royal Economic Society, vol. 113(484), pages 21-42, January.
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