14 research outputs found
The effect of dexmedetomidine on the adjuvant propofol requirement and intraoperative hemodynamics during remifentanil-based anesthesia
Análise das alterações cardiovasculares em adultos com deficiência de hormônio de crescimento através da dopplerecocardiografia e do teste de esforço cardiopulmonar
A novel zebrafish kelchlike gene klhl and its human ortholog KLHL display conserved expression patterns in skeletal and cardiac muscles
10.1016/j.gene.2004.05.016Gene338175-83GENE
Altered BAFF-receptor signaling and additional modifier loci contribute to systemic autoimmunity in A/WySnJ mice
Dispensability of APRIL to the development of systemic lupus erythematosus in NZM 2328 mice
Institutional Quality and International Trade
Institutions-quality of contract enforcement, property rights, shareholder protection, and the like-have received a great deal of attention in recent years. Yet trade theory has not considered the implications of institutional differences, beyond treating them simply as different technologies or taxes. The purpose of this paper is twofold. First, we propose a simple model of international trade in which institutional differences are modelled within the framework of incomplete contracts. We show that doing so reverses many of the conclusions obtained by equating institutions with productivity. Institutional differences as a source of comparative advantage imply, among other things, that the less developed country may not gain from trade and factor prices may actually diverge as a result of trade. Second, we test empirically whether institutions act as a source of trade, using data on U.S. imports disaggregated by country and industry. The empirical results provide evidence of "institutional content of trade": institutional differences are an important determinant of trade flows. Copyright 2007 The Review of Economic Studies Limited.