A formalization of the Coase-Williamson-Cheung theory of the firm is used to examine the trade-off between the firm and the market as institutions for organizing production in a dynamic, general equilibrium model with increasing returns to labor specialization. The model considers the interaction of internal and external transaction costs and the gains to labor specialization in determining imp...

D uring the past few decades, national security plays a central role in the process of economic development. Also, foreign investment and trade have rapidly increased worldwide and have enhanced economic growth in developing countries. Although foreign investment and trade bring huge economic benefits, many developing countries fear that by opening up markets to competition and forei...

The paper presents a theory of the industrial transformation amongst sectors along the balanced growth path equilibrium, using endogenous growth theory. Allowing only a slight upward trend in the productivity of the human capital sector, combined with ascending degrees of human capital shares of sectoral output, in say, agriculture, manufacturing and services, output gradually shifts relatively...

Welfare effect of tariff for a small country in the case of traditional tariff (exogenous) compared to free trade would decrease the welfare of the country. This paper has shown that the welfare effect of tariff in case of untraditional tariff (endogenous) can be explained by using the specific factors models (Jones) that fundamentally determined by Cournut- Nash Equilibrium system in contrary ...

National security depends on soft power, the ability of a country to generate and use its economic power and to project its national values. It also depends on long-term factors that contribute to economic growth and increase the total resources base available not only for defense but to provide economic security in the form of income and business opportunities for individuals. The economic iss...

The growth of regional trade blocks has been one of the major developments in international relations in recent years. Regional agreements vary widely but, all have the objective of reducing barriers to trade between member countries that in most cases result in increasingly trade flows and economic growth. This paper attempts to explore the results of trade integration in ECO, EU and OIC block...

in this paper, we develop a ramsey-type endogenous growth model in which government spending on property rights protection is a major determinant of economic growth. this model includes equations for welfare, private and public sectors production. we introduce the legal efficiency into private production function, and x-inefficiency parameter into public production function. also, we consider t...

this paper using endogenous growth models based on research and development, has investigated two economic relations in three groups of countries included developed countries, developing countries and a mixed group of both mentioned ones. at first, the effects of r&d; activities on patent growth have examined and then the relation between volume of patent and growth rate in these groups has sur...